Investment manager PIMCO has named a new Head of Hong Kong Retail and made other changes to its Wealth Management team.
Steven Chiu joins PIMCO in Hong Kong as Senior Vice President and Head of Hong Kong Retail. In the new role Chiu will be tasked with building and developing distribution partnerships with financial intermediaries in Hong Kong. His focus will be on retail banks, insurance companies and independent financial advisers the firm said in a statement to finews.asia.
Chiu (pictured) will report to Michael Thompson, Head of Global Wealth Management Asia ex-Japan and Head of Singapore.
Steven Chiu was most recently Vice President, Investment Funds of Manulife Asset Management (Hong Kong). Prior to that, he held senior management roles in Bosera Asset Management (International), AIA Wealth Management, Invesco Asset Management, HSBC Retail Banking and HSBC Asset Management. finews.asia reported recently on PIMCO's ambitious plans to reinforce their wealth management offering throughout the Asia Pacific region, the worlds fastest growing where private wealth is concerned.
In their note the firm also highlighted the appointment of Stacie Wang (pictured) as Head of China, Global Wealth Management. Wang joined PIMCO in early August and is now responsible for building partnership with intermediaries in China, with a strategic focus on private banks, retail banks, domestic asset managers, wealth management platforms, financial advisors and family offices.
PIMCO also outlined the recent calibration of Asia ex-Japan Global Wealth Management business team heads who have taken on dedicated channel responsibilities. These included Todd Staley leading the Family Office sub-channel, Henry Chui on Private Banks North Asia and Freida Tay on Singapore Retail.
