What’s new: Desiree Wang has been named general manager of JPMorgan Asset Management (China) Co. Ltd., the company announced this week.
Wang is a finance industry veteran with more than 23 years of experience, according to the announcement. She joined J.P. Morgan Asset Management (JPMAM) in 2008, and has since held several senior positions including China head.
Before JPMAM, she had worked for investment giant BlackRock Inc. and state-owned Industrial and Commercial Bank of China Ltd., the world’s largest commercial bank by assets.
Her predecessor at JPMorgan Asset Management (China), Eddy Wong, has been appointed JPMAM’s head of institutional business for Asia Pacific, the announcement said.
The background: JPMAM has been growing its presence in China. Earlier this year, it won regulatory approval to take full control of a local mutual fund management joint venture, which was later renamed JPMorgan Asset Management (China).
At the end of March, JPMorgan Asset Management (China) managed 84 mutual funds with close to 160 billion yuan ($23 billion) in assets under management, the announcement said.
Related: China Speeds Up Approval of Wholly Foreign-Owned Fund Managers
Contact reporter Zhang Yukun (yukunzhang@caixin.com) and editor Michael Bellart (michaelbellart@caixin.com)
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