Standard Life Investments has established a new office in Hong Kong to make the region as its Asia Pacific hub, according to International Adviser.

The publication has quoted Colin Clark, executive director of the board and head of global client group, saying that the company has plans to develop Hong Kong as its Asia Pacific hub, supporting the firm’s offices in China, Korea, and Australasia, as well as activity in other key markets including Taiwan, Singapore and South East Asia.

David Peng, head of Asia, said: "Our Asia expansion will focus on serving institutional investors and fund distributors, as well a sub-advisory service, by providing access to our proven and innovative investment products and solutions."

Standard Life has been bolstering its team by appointing Allen Wang as head of Asia institutional business in January followed by naming Virginia Devereux Wong as head of Asia wholesale business in September.

Standard Life Investments had assets under management worth £179.6 billion (US$286 billion, HK$2,255 billion) as of September-end.

It also has offices in Boston, London, Beijing, Montreal, Sydney, Dublin, Paris and Seoul, and has tie-ups with domestic players in Asia, including HFDC Asset Management in India and Sumitomo Mitsui Trust Bank in Japan.