J.P. Morgan Asset Management appointed Eddy Wong as its first Asia-Pacific head of institutional business after integrating its China operations, and promoted Desiree Wang to the role of CEO for China to succeed Mr. Wong, according to a Thursday statement.
The appointments came after JPMAM acquired full ownership of its fund management business in China earlier this year, and rebranded its China funds business under the brand name of JPMAM.
Both appointments were made effective on Thursday.
Mr. Wong has been with the firm since 2010, having held various positions including head of Hong Kong and China fund distribution, CEO of Taiwan and most recently CEO of China. He relocates from Shanghai to Hong Kong for the role and continues to report to Dan Watkins, APAC CEO.
"Prior to Eddy's appointment, the institutional business was supported by local teams in Australia, Hong Kong, Japan, Mainland China, Singapore, South Korea and Taiwan for a number of years. As Asia Pacific Head of Institutional, Eddy will lead and drive the growth of JPMAM's regional institutional business, working closely with these teams," a spokeswoman said.
The appointment was made in recognition of Asia Pacific being one of the fastest growing pension markets and JPMAM being one of the largest global active managers of institutional and sovereign assets, the statement said.
JPMAM has operated in Asia-Pacific since 1970 and had $217 billion in AUM globally as of March 31.
As the new CEO of JPMAM's China business, Ms. Wang is responsible for continuing the firm's work in integrating the China business and growing investment solutions for domestic clients. She is based in Shanghai and also reports to Mr. Watkins.
Ms. Wang joined the firm in 2008 and was most recently managing director and China country head.