VMS Group appointed Man Wing Chung as the group's first chief investment officer in Hong Kong, effective Tuesday.
His role, which is newly created, entails leading the expansion of the group's investment capabilities across strategies in its key markets such as China and other parts of Asia. He will also develop future investment directions and new products in response to the macroeconomic landscape and clients' asset allocation preferences.
Additionally, he will lead the establishment of the group's external asset manager sourcing, screening and monitoring system, a statement said.
VMS Group had $4.2 billion in assets under management as of end-November and runs private equity, venture capital, real estate, private debt and hedge fund strategies.
Mr. Chung was an investment director and lead manager for Value Partners' Asia ex-Japan equity and all-China equity strategies. He oversaw close to $1 billion in assets under management for institutional and intermediary clients.
Value Partners did not respond to a request for comment on his replacement.
