Wilfred Sit was appointed chief investment officer of equities, Asia-Pacific, at the €560 billion ($590.1 billion) Allianz Global Investors in Hong Kong, the firm said in a statement on Nov. 20.
He starts in the role in January and succeeds Raymond Chan, who will be retiring from the role after a multidecade career with the asset manager.
Sit will lead the equity team in Asia-Pacific and drive the next phase of growth for the firm’s APAC equity platform. “Together, we look forward to evolving our equity offerings in line with the growing needs of our clients,” Virginie Maisonneuve, global equity CIO, said in the statement.
Sit joins from the HK$303 billion ($38.9 billion) Hang Seng Investment Management, where he has been CIO since 2019. He previously held senior positions at Baring Asset Management and Mirae Asset Global Investments.
A spokesperson for Hang Seng Investment Management confirmed his resignation and said that the firm has started the recruitment process for his successor.
