Fidelity International appoints a new president of China who will eventually become the first general manager for the firm’s asset management business onshore.
Daisy Ho will take on the new Shanghai-based role, effective January 1, 2020, «as Fidelity prepares for its full transition from a private fund manager to an asset management company in China», a release said. Ho’s eventual GM role is still pending approval by the China Securities Regulatory Commission.
Ho joined Fidelity in 2005 and held various institutional roles in her 14-year career with the firm and was, most recently, its Asia ex-Japan managing director.
China Liberalization
Asset manager Fidelity will look to capitalize on China’s recent wholesale move to remove ownership limits on a series of financial service providers, including mutual fund companies, on various dates throughout 2020. The Boston-Headquartered financial giant has remained at the forefront of China’s market opening and was the first global player to register as a private fund management company in 2017. Today, its offices in Beijing, Shanghai and Dalian house over 1,000 employees.
«I am thrilled and honored to take on this role in China, having worked with key clients, regulators and officials on the ground over the course of many years,» said Ho. «The pace of market change in China is truly remarkable and I believe that, working closely with our partners, there is more we can achieve together.»
