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MONEY MANAGEMENT

Fullerton appoints heads of business development, private equity

Mark Yuen will join Fullerton Fund Management Co. as chief business development officer, according to a news release Wednesday from the S$45 billion ($33 billion) Singapore-based money management firm.

Mr. Yuen on Jan. 8 will take on oversight of Fullerton's business development strategies and initiatives from CEO Jenny Sofian including efforts to widen the firm's target markets and client segments and expand the development of investment solutions, according to a spokeswoman.

Ms. Sofian assumed those additional responsibilities on an interim basis a year ago when Trevor Chudleigh left Fullerton's chief business development officer role to launch a venture capital firm.

Mr. Yuen comes to Fullerton from Eastspring Investments, where he served as director and head of institutional sales and client service management, overseeing client relationships in the region.

An Eastspring spokeswoman said a search has been underway for a more senior role overseeing institutional sales and consultant relationships globally.

The same news release said Tan Huck Khim joined Fullerton on Dec. 1 as head of private equity. The position is a new one at the firm.

A statement forwarded by the firm's spokeswoman said Fullerton will look to build its private equity business methodically, with an initial focus on fund-of-funds operations, adding direct investments later as more private equity veterans join the team.