Money Management

Deutsche Asset Management names head of Asia-Pacific business

Alexander Prout will join Deutsche Asset Management in Hong Kong in November as head of Asia-Pacific, a spokeswoman for the company confirmed.

Mr. Prout is replacing Jon Eilbeck, the firm's global chief operation officer, who had assumed the Asia-Pacific duties temporarily, said the spokeswoman. With Mr. Prout's appointment, Mr. Eilbeck remains global COO.

Mr. Prout had been chief operating officer for global sales and distribution at Morgan Stanley (MS) Investment Management in New York. An MSIM spokesman couldn't immediately be reached for comment on a replacement.