GAM Investments has set up a new office in Singapore to capitalise on the growing wealth in the Asian market.

The Swiss asset manager described Asia as a strategic growth market for the firm. It has an established client base in the region and offices in Hong Kong, Tokyo, and Sydney.

GAM has hired Terence Bong to oversee client activities for Singapore and the South East Asia region.

Bong joins the firm from Templeton Asset Management, where he was head of Wholesale for South East Asia.

Prior to that, he was head of intermediary business development for three years at Nikko Asset Management Asia.

He has also held key positions at Schroder Investment Management, Aviva, and Citibank Singapore.

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By GlobalData

In his new role at GAM, Bong will be responsible for business development and client relationships in Singapore and the South East Asia region and will report to GAM Investments head of APAC Rossen Djounov.

He will be based in Singapore and head GAM’s new office in Singapore.

Commenting on the development, Djounov said: “We are excited to welcome Terence to GAM, who brings deep experience of Singapore and the South East Asia region.

“His appointment underscores our commitment to providing the best service to our clients and to providing them with investment leadership, innovation and sustainable thinking to protect and enhance their financial future.”

GAM Investment Group CEO Peter Sanderson added that the firm is looking to expand its business in Asia, including by responding to growing client demand for sustainable solutions in the region.

This January, GAM, in a strategic step, expanded its Nordic footprint by setting up an office in Copenhagen.