The executive, who has been in the role for little over a year, has left the firm to «pursure other opportunities.»
Vanguard Asia chief executive Charles Lin has left the company, and his role is being filled by Axel Lomholt, currently head of portfolio review, Asia, while the company searches for a permanent replacement, according to a report on Friday by «Fund Selector Asia.»
«He is leaving to pursue other opportunities,» a Vanguard spokesperson said to the publication.
Lin joined Vanguard in 2011, overseeing the firm's expansion into China. He later became head of Greater China, and was appointed Asia CEO in November 2018, to add to his portfolio as managing director for China. He replaced David Cermak, who was assigned a new role.
Ant Financial Tie-Up
Lin's departure follows the December 2019 announcement that the firm would be partnering Chinese fintech giant Ant Financial to provide advisory services to China's onshore retail market.
In November 2019, Yan Pu was named its China head of investment management.
Vanguard told FSA that despite the developments, «business plans and commitment to investors in Asia, including China, [and] the organisation structure remain unchanged.»
