Old Mutual Wealth focuses on growth momentum in Asia
Old Mutual Wealth is expanding its operations in Asia with three senior appointments within its offshore business, Skandia International, and its asset management business, Old Mutual Global Investors.
Old Mutual Wealth has ambitious growth plans in the Asian market, focused on combining the strength of its Skandia International products with the expertise of its Old Mutual Global Investors fund managers to deliver a broader set of investment solutions designed specifically for customers in Asia.
As part of these growth plans, Skandia International plans to expand its product suite in Asia to complement its existing life and investment products, in order to address a wider set of customer needs.
At the same time, Old Mutual Global Investors will be looking to extend its presence in the region by partnering with regionally based global financial institutions, regional banks and wealth managers.
Within Skandia International, Steve Hickman has joined the international sales team as global head of high net worth. Hickman joined from HSBC in Hong Kong, where he was head of distribution for high net worth business. At HSBC he played a key role in the design and implementation of the HSBC high net worth insurance proposition. Prior to HSBC, Hickman worked for American International Assurance in Hong Kong, where he redesigned the high net worth brokerage channel. Hickman has 18 years of insurance experience, including nine years in Asia. Before coming to Asia, Steve gained extensive sales experience in the US, South America, Eastern Europe and South East Asia.
Xerxes Wong has joined the commercial product team as the head actuary, high net worth Asia, based in Hong Kong. Wong joined from American International Assurance in Hong Kong, and has also worked for American International Assurance in India, HSBC in Hong Kong and Standard Life in Hong Kong. During his four years at HSBC, Wong played a key role in rolling out three generations of industry leading high net worth products to a wide range of distribution partners across Hong Kong and Singapore. Wong has 10 years’ experience in the insurance industry, and has been a fellow member of the Society of Actuaries (FSA) since 2008.
Carol Wong will be joining the Old Mutual Global Investors team as head of distribution for Asia in November 2013 (subject to regulatory approval). Wong will join from BNP Investment Partners in Hong Kong where she was head of distribution for Hong Kong, China and South East Asia. She has spent the last 15 years at BNP, and has previously worked at Jardine Fleming Unit Trusts Limited in Hong Kong and at HSBC in Hong Kong. Wong brings a wealth of experience with her, having worked in the Asian investment management industry for 19 years. She has been an executive committee member of the Hong Kong Investment Funds Association for the past four years and has been a Chartered Financial Analyst since 1997.
Paul Feeney (pictured), chief executive of Old Mutual Wealth, says: “Asia is fast becoming one of the world’s wealthiest regions, and a core part of our strategy is to leverage the strength of our combined businesses to grow our proposition in the region. Strengthening our presence, broadening our capability, and ultimately our customer reach, will allow us to capture these growth opportunities as they develop.”
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