Money Management

Lazard Asset Management adds managing director for Asia distribution

Shen Tan was named a managing director in Hong Kong at Lazard Asset Management, confirmed a spokeswoman for the firm.

The position is new. Mr. Tan focuses on distribution throughout Asia and helps develop the firms' asset management business in the region. He reports to Nathan Paul, chief business officer.

Mr. Tan was a managing director at Capital Group, where he was responsible for its Asia ex-Japan institutional business. He was replaced by Ada Zhang, director of the company's institutional business, a Capital Group spokeswoman confirmed.

Lazard Asset Management and affiliated asset management companies in the Lazard Group managed $252 billion worth of client assets as of March 31.