Aberdeen Standard Investments poached a new head in Hong Kong from a family office. The Scottish asset manager wants to win a part of assets flowing in and out of China.
David Lam (pictured above) will oversee the planning and development of Aberdeen Standard's Hong Kong business, ensuring it is aligned with the strategic objectives for the Asia Pacific region, the asset manager in a statement on Thursday. He will report to Ian Macdonald, deputy head of Asia Pacific.
The prominent hire is a bid to get in on growth from wealthy Chinese. «We are seeing good momentum in the local business right now. In addition, Hong Kong also provides a gateway for assets flowing in and out of the mainland China», Macdonald said.
Asia Veteran
Lam is a long-standing Asia banker who joins from Carret Private Investments, a Hong Kong-based multi-family office for the ultra-rich. Previously, Lam absolved lengthy stints at Coutts, Swiss-based GAM, and Merrill Lynch.
He will oversee Aberdeen Standard's 60 staff in Hong Kong, which include investment teams for assets including China equities, private equity and emerging market debt. The Scotland-based asset manager wants to lift its business from institutional and wealthy clients as well as retail avenues.
