Manulife Investment Management makes an appointment to a newly created role focused on the China market.
Manulife Investment Management names Adrian Chen as its China head of wealth and asset management, according to a statement, reporting to Asia head of wealth and asset Management Michael Dommermuth.
Chen joins from UBS where he was most recently general manager and legal representative of UBS Ruihua and UBS asset management. He spent 13 years with the Swiss major in various functions across wealth management business, wholesale distribution, business development, among other functions.
In the newly created Shanghai-based role, Chen will lead growth in three areas: the domestic fund business; distribution of offshore solutions to Chinese institutional and retail investors; and the retirement market.
China Growth
Not unlike others, Manulife is capitalizing on opportunities from mainland China’s financial market opening for foreign participants.
Manulife Investment Management has a 49 percent stake in an asset management joint venture in Beijing – Manulife TEDA Fund Management – which it claims has significant contributions to the business’ fund flows in Asia. It also runs a majority-owned insurance joint venture, Manulife-Sinochem Life Insurance.
Last year, it acquired a stake in Albamen Capital Partners, a private equity infrastructure investment manager with a focus on renewable energy, data centers and other energy-related infrastructure assets in China.
