American investment manager Vanguard has named Scott Conking as the new head of Asia operations, replacing Axel Lomholt.
Lomholt has been working as the head of Asia on an acting basis since last year.
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He took over as the interim head after the departure of Charles Lin.
Conking has been working at Vanguard since 1984.
He held various senior roles at the firm, including the principal and head of Vanguard Institutional Investor Services.
He also served as the chief culture and diversity officer at the firm.
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By GlobalDataHe took on the new responsibility last week.
In the new role, Conking has been tasked with managing the firm’s offices in Beijing, Hong Kong, Shanghai as well as Tokyo.
He reports to the head of international operations James Norris.
Recent developments at Vanguard
Earlier this year, Vanguard received the clearance of the Financial Conduct Authority to launch a retail investment advice service in the UK.
The plan is to offer a direct to consumer financial advice offering in the UK.
At the end of last year, Vanguard teamed up with Ant Financial Services to introduce retail investment advisory services in China.
The companies have formed a joint venture to provide wealth management services to Chinese individual investors.
