Adrian Chen joined Manulife Investment Management in Shanghai as head of wealth and asset management for China effective March 1.
The position is new. Mr. Chen will focus on opportunities for Manulife in three areas: China's domestic fund business, where the firm has a 49% stake in Beijing-based Manulife TEDA Fund Management Co.; distributing Manulife's offshore capabilities to Chinese institutional and retail investors; and serving the country's fast-growing retirement market, a news release said Friday.
Mr. Chen is tasked with overseeing the day-to-day operations of Manulife Investment (Shanghai) Ltd. Co., the wholly foreign-owned enterprise which houses the firm's China institutional sales team, and working with its majority-owned life insurance joint venture, Shanghai-based Manulife-Sinochem Life Insurance Co. Ltd., to pursue opportunities in China's pension and retail wealth markets.
Manulife Investment Management oversaw C$966 billion ($755.7 billion) in assets as of Dec. 31.
Mr. Chen was general manager and legal representative of UBS Asset Management (Shanghai). A UBS spokeswoman said Lingrong Chen, who was local operating officer at UBS Asset Management (Shanghai), took on the general manager role in February.