London-based M&G has established an office in Taipei after securing a new license in Taiwan.
M&G Investments has secured a Securities Investment Consulting Enterprise (SICE) business license in Taiwan and established a new office in Taipei, according to a statement.
«The securing of the SICE licence will enable M&G to reinforce its existing client base and build significant new client relationships in Taiwan – the largest and fastest growing wealth center in Asia,» the asset manager said.
Taiwan Leadership
Berny Lin has been appointed chairman of the board of directors for M&G Taiwan. Lin has over two decades of asset management experience and is concurrently M&G's Asia ex-Japan head of distribution.
Steven Wang has been named as M&G Taiwan's general manager. Based in Taipei, Wang will be responsible for leading and growing M&G’s institutional and wholesale business in Taiwan, while also leading the local teams to build, grow, and strengthen relationships with clients and partners.
Asian Expansion
M&G set up its first Asia subsidiary in Singapore in 2006 and has since continued expanding in the region. Currently, the firm has Asia Pacific offices in Australia, Hong Kong, Japan, Singapore and Taiwan.
«Taiwan is a natural next step for M&G’s strategic expansion where the regulator has strong ESG ambitions and M&G can provide a diverse range of sustainable investment capability,» the statement added.
As of 31 March 2023, M&G had 306.5 billion British pounds ($401.1 billion) in assets under management worldwide.
