US-based asset manager Pimco is going to hire around 20 new professionals in sales and marketing, operations, legal and compliance roles to facilitate its Asia Pacific expansion.
Speaking to Australian newspaper «Financial Standard», the asset manager Pimco's head of Asia Pacific Eric J. Mogelof said the region «continues to be an important growth engine for Pimco. We manage assets for both institutional and wealth management clients, with more institutional assets at present but a rapidly growing individual investor base.»
According further to Mogelof, the private wealth base continues to grow in Asia ex-Japan with an expectation that it will surpass North America's individual wealth base in the next five years.
New Markets in Sight
«To support our clients and this asset growth, we have been increasing our resources within our wealth management effort,» the Pimco manager added.
«We are focused on expanding and deepening our relationships with private banks, retail banks, and family offices in Hong Kong and Singapore, as well as engaging with potential clients in new markets including Thailand, Malaysia and the Philippines,» Mogelof declared.
