Baring Asset Management has appointed Ike Bae new chief executive officer in Korea.
He takes over the role from Thae Khwarg, who retired in December last year after more than 20 years of service.
Bae has over 25 years of investment experience. He joined Barings in Korea in 2011, where he has led its Korean institutional and mutual funds businesses as head of sales.
Prior to joining Barings, Bae worked at Hanwha Securities Company and AllianceBernstein Investment Management (Korea).
Replacing Bae in his former role as head of sales is Wonil Kim, who was previously head of institutional sales in Korea.
‘Korea is a dynamic market and a strategic priority for our Asia business as we look to build out our platform with our newly expanded capabilities and product set,’ said Gerry Ng, Barings’ CEO for Asia Pacific ex-Japan.
On 12 September 2016, Barings announced the completion of the integration of Baring AM, Babson Capital Management LLC, Cornerstone Real Estate Advisers LLC and Wood Creek Capital Management LLC under the Barings brand.
Together, the combined firm offers expertise across global fixed income, equity, real estate and alternative asset markets.
Meanwhile, Barings’ Korea business has exhibited steady growth in its assets under management, which surpassed $9.5 billion (ten trillion won) in December 2016. The fund house continues to be an independent foreign asset manager in Korea.
Globally, Barings Asset Management had $284 billion assets under management as of September 30, 2016.