Hermes Fund Managers has named Jakob Nilsson as new business development head for Asia.

Based in Singapore, Nilsson will be responsible to head the sales efforts in Asia in his new role.

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Nilsson joined Hermes in September 2012 as director of business development for the Nordic region.

Prior to joining Hermes, Nilsson worked with several firms including Citigroup, Goldman Sachs, Lehman Brothers and Bank of America Merrill Lynch.

Nilsson will be replaced Johan Stromberg in his previous role as head business development in the Nordic region.

Meantime, Hermes has also hired Antonis Maggoutas as sales manager for Germany and Austria. Maggoutas and Stromberg will report to Paul Voute, director of business development for Europe.

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Harriet Steel, global head of business development at Hermes Fund Managers, said: "Hermes has had a presence in Singapore for some time and Jakob’s appointment is a significant step in placing Hermes firmly at the centre of this dynamically evolving."