Global investment management firm Pacific Investment Management, more familiarly known as Pimco, is adding to its Asian operations in an effort to carve out more market share of the growing private wealth.
According to a report by news agency «Bloomberg», the California headquartered global money manager is in the process of hiring more than 20 people in marketing, operations, legal and compliance teams over the next two years to help cover major retail banks in Hong Kong and Singapore.
Chinese Aspirations
Like many of the leading global wealth managers Pimco is also said to be keen on penetrating deeper into markets such as Thailand, Malaysia and the Philippines.
The firm is also looking to establish its own offices in China and has been working on a business plan to set up its own onshore presence.
