BEA Union CEO Ilex Lam poised to depart

Jun 21, 2011

Lam will remain with the asset-management firm for a few months. His replacement is understood to be Eleanor Wan, who will be joining the firm in mid-July.

Ilex Lam Ka-keung will be leaving his post as chief executive of Hong Kong-based BEA Union Investment Management, but will remain with the firm for several months.

AsianInvestor understands he will be replaced by Eleanor Wan, CEO of the Institute for Financial Planners Hong Kong, in mid-July. However, BEA Union has declined to confirm this information and says it will not make an official comment until mid-July.

Lam has been with BEA Union for close to three years, having joined in late 2007 from US asset manager Janus Capital where he’d been Asia-Pacific regional director since 2004.

Before starting at the Institute for Financial Planners Hong Kong in May, Wan was formerly chief executive of Allianz Global Investors Hong Kong from April 2003 to January 2009. Prior to that, she had worked for Zurich Scudder Investments and Invesco.

With around $5 billion in assets under management, BEA Union is a joint-venture formed in 2007 by Bank of East Asia in Hong Kong and Germany’s Union Investments.

As of May last year, 58% of BEA Union's AUM was institutional client money, 29% Hong Kong Mandatory Provident Fund assets and 13% Securities and Futures Commission-authorised unit trust/retail assets.