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Money Management

BlueBay Asset Management opens Melbourne office; distribution expanding in China

BlueBay Asset Management, the London-based emerging markets debt manager, opened a Melbourne office Monday.

Ciaran McAssey, the firm's head of sales – Australia, New Zealand and Asia ex-Japan, moved from the Hong Kong offices of parent company Royal Bank of Canada to lead the Melbourne office.

A BlueBay news release said Mr. McAssey was relocating to "his home country" to strengthen relationships with clients there.

A London-based spokeswoman said Mr. McAssey's remit eventually will narrow to Australia and New Zealand, while adding sales and client service coverage for RBC Global Asset Management as well.

In Greater China, meanwhile, RBC GAM's business development team in Hong Kong "will deliver both RBC GAM and BlueBay strategies to institutional clients," she said.

Mr. McAssey said in the release that a local presence in Australia will allow him to work closely with financial institutions and institutional investors there. The firm, with only one other Asia-Pacific office in Tokyo, managed $54 billion globally as of June 30, the news release said.