Schroders snares sales head from State Street

Alan Young joined Schroder Investment Management on September 25 as Hong Kong head of institutional sales, reporting to Kelvin Lee, Hong Kong head of institutional business.

Young was previously head of North Asia sales at State Street Global Advisors (SSgA), a post he left in March after two years and three months with the US asset management and services firm.

Schroders declined to comment on who had looked after his area in the past, saying that his is a newly created role and he has not directly replaced anyone.

Sources note that Calvin Ma left a junior institutional sales role with Schroders in May and has since moved to French fund house Amundi. Before that, KP Luk had been Hong Kong head of institutional clients for the UK firm, but left in 2010 to join Fidelity.

At SSgA, Young had covered Hong Kong, Taiwan and Korea, managing relationships with quasi-government entities, public funds, pensions, corporations, consultants, endowments, family offices and global partners. The firm declined to say whether he has been replaced.

Before Young joined SSgA, he worked for Barclays Global Investors, focusing on institutional clients for its iShares ETF unit, and prior to that spent six years with Goldman Sachs Asset Management covering Greater China.

He also did a stint as a client service officer in the private client group at Merrill Lynch in Hong Kong and as a financial services executive for the Mandatory Provident Fund at HSBC in the same city.