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January 28, 2022

Allspring Global Investments names new chief for APAC ex-Japan

Allspring Global Investments, an independent asset manager, has hired Andy Sowerby as its new managing director and head of Client Group APAC ex-Japan.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

Sowerby will report to International Client Group head Deirdre Flood. He will be responsible for developing the company’s business across the APAC region.

Sowerby comes with more than 30 years of experience and held several key positions focused on wholesale and institutional markets.

Previously, he was with Legg Mason, where he worked as head of Asia Pacific (ex-Japan). He also served as CEO of its Australia and New Zealand operations.

Before that, he was the global head of distribution for Martin Currie for 11 years.

Allspring executive chair and CEO Joe Sullivan said: “Our international client base is strategically important to us, and investing further to expand our value proposition and better serve these markets is a priority for Allspring. Andy’s hire is an important one as we seek to grow and enhance our international footprint.”

Sowerby added: “Allspring is one of the most exciting asset managers in the market today. With global reach and a full suite of investment capabilities, I believe that Allspring has much to offer.

“With the formation of the new company comes a fresh energy and impetus but with the benefits of scale, heritage and deep resources. I am honoured to join at this juncture and look forward to working with both clients and colleagues to develop our business in the months and years ahead.”

Allspring Global Investments was previously Wells Fargo’s asset management unit. It was rebranded following its acquisition by GTCR and Reverence Capital Partners in July last year.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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