JP Morgan AM hires alts specialist
JP Morgan Asset Management has appointed Gary Leung as head of retail alternatives for the Asia Pacific.
Leung joins from the Bank of Singapore, where he was most recently head of alternative investments and managed solutions.
In the new role, he will lead the firm's efforts to distribute alternatives solutions to APAC clients, focussing particualrly on high-net-worth individuals.
Leung will also partner closely with the firm's alternatives investment team and client advisors to develop and position solutions across hedge funds, real assets, private equity, private credit, and liquid alternatives in client portfolios.
He will also lead a team of 'alternatives ambassadors' who come together to drive business growth and solve the toughest client challenges in the alternatives solution space.
Before joining the Bank of Singapore, Leung was an alternatives specialist with BlackRock and head of alternative investments in Hong Kong with HSBC private banking.
He replaces Shawn Khazzam, who relocated to New York late last year to be the firm's head of retail alternatives for the US.
Speaking of the new appointment, JP Morgan AM's APAC chief executive Dan Watkins said Leung's solid track record and expertise in the alts space positioned him to lead and enhance the firm's alternatives distribution business in the region.
"APAC retail alternatives is a US$1.2 trillion market growing at around 10 per cent per year." he added.
Watkins pointed out that alternatives are playing an increasingly large role in asset allocations among Asia investors, particularly with the continued search for income and diversification opportunities from retail investors, who tend to under-allocate to alts compared with institutional investors.
"Under Gary's leadership, we look forward to introducing our leading alternatives insights and differentiated retail alternatives solutions to meet with Asia investors' demand."
JP Morgan AM has US$215 billion in client assets under management in alternatives as of June 30, 2022.
