Legal & General Investment Management has launched an institutional business in the Asia Pacific region, headquartered in Hong Kong to continue its strategy of international expansion.
The new business will be headed by Alan Flynn and will provide index and fixed income solutions to large institutional clients across the region.
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John Bridges, head of specialists account team at Legal & General Investment, has relocated to Hong Kong and will take up the role of head of operations.
The company has received its licence from the Hong Kong regulator, Securities and Futures Commission, which allows it to access clients from across the Asia Pacific region.
Mike Craston, Legal & General Investment’s managing director of global institutional business, said: "As Asian sovereign wealth and national funds continue to seek diversification and place larger allocations overseas, they are increasingly turning to specialist managers with the track record and scale of firms such as LGIM to provide investment solutions."
Alan Flynn, head of Asia Pacific, adds: "Our initial focus will be the provision of our market-leading Fixed Income and Index capabilities, with further expansion driven by our focus on meeting and exceeding client needs."
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By GlobalDataLegal & General Investment currently manages US$670 billion in assets for more than 3,300 clients.
