Pheim Asset Management (Asia) has appointed Deutsche Asset Management's former Asia chief Andrew Kwek as its new CEO, Citywire can reveal.
Kwek has assumed the position of CEO on 17 June 2013, in addition to the role of COO.
Speaking to Citywire, Kwek said, ‘I intend to stabilise the company structure, reassure existing investors on the continuity of the firm and in the management of their entrusted monies.’
Previously the CEO of Deutsche Asset Management (Asia), Kwek said his plans include building the investment capability of the firm, with an eye on increasing the firm’s coverage of the North Asian markets of Taiwan and South Korea.
'We are focused on building stronger operational infrastructure and investment competency to better provide simple cost-efficient investment solutions,' said Kwek. 'No frills, just a single-minded focus on returns from Asian equity investments.’
As of June 2013, Pheim Asset Management (Asia) managed around US$124 million in assets.