Principal GI eyes China WFOE, plans senior Asia hires
The US asset manager is planning to apply for a wholly foreign-owned enterprise in China by the end of 2015, AsianInvestor is told. And the firm is looking to hire a Southeast Asia CEO and a distribution chief.
US asset manager Principal Global Investors (PGI) is expected to apply for a wholly foreign-owned enterprise (WFOE) licence in China by the end of this year, a senior executive said.
The firm also plans to expand its headcount with the creation of two key regional positions: a chief executive for Southeast Asia and a director for third-party fund distribution in Singapore.
Meanwhile, the asset manager has outlined its expansion plans for exchange-traded funds (ETFs), following i…
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