CitiÆs Chan replaces InvescoÆs Ma

Mabel Chan has quit Citigroup Asset Management to join Invesco as head of retail sales in Hong Kong. She replaces Joanna Ma, who is leaving the firm in a few weeks' time to pursue other options.

Citigroup has no plans to replace her, says a firm spokesperson. Chan had reported to Henry Choon, who runs regional retail sales and co-heads institutional sales. Chan's role at Citi had been developing the regional retail business, and now that the firm has developed stronger country heads, there is less call for such a job.

Chan now reports to Bruno Lee, head of retail business for Greater China for Invesco. Lee, who is based in Taipei, says he and Chan are going to put together a detailed agenda for building the Greater China business, although for now he declined to discuss the firm's ideas, as Chan has only just arrived.

Chan has been in the industry for 10 years, first at Merrill Lynch Asset Management, then as director of regional marketing and sales at Prudential, before joining Citigroup.

Joanne Ma had indicated earlier this year that she wanted to pursue other goals, and has stayed on with Invesco until her replacement could be found and brought on board. Her tenure there was brief, however, as she only joined in June last year from Janus. She is weighing a few options, including getting an advanced business degree.