F&C distribution strategy builds momentum

F&C Investments, the London-listed global asset manager with over US$ 200 billion under management, is poised to further extend its footprint by establishing a distribution and business development presence in Asia with the opening of a Hong Kong office.

The move is an important milestone in the implementation of F&C's wholesale and institutional distribution strategy, as part of the three-year revenue growth plan launched by the company in 2007.

F&C has today announced that it has appointed Alvin Chua as Head of Distribution & Business Development, Asia, and has secured office premises* in the heart of the Hong Kong financial district where it will base a dedicated distribution team led by Mr. Chua. Subject to necessary regulatory approvals being obtained, F&C initially intends to focus on opportunities within Hong Kong, China, Singapore, Taiwan and South Korea.

Mr. Chua brings a wealth of experience to F&C with an international investment career spanning more than two decades in both the US and Hong Kong. He was most recently Managing Director of Banc of America Securities Asia Limited, the investment banking subsidiary of Bank of America, a position held since 2001.

Mr. Chua graduated with a degree in Accounting from the University of Texas and an MBA in Finance from the University of Chicago. He began his investment career in 1987 working in sales and trading at Merrill Lynch in New York. From 1991 to 1999 Mr. Chua worked for Lehman Brothers, initially in New York and then relocating to Hong Kong in 1997 where he headed up the bank's credit and emerging markets distribution in Asia, followed by two years as Head of Fixed Income Sales for Greater China at JP Morgan Chase.During his six years at Banc of America Securities in Asia, Mr. Chua built the firm's fixed income distribution platform, headed up the fixed income sales and trading business, led the sales and marketing of all global market products in Asia, and was responsible for global coverage of Central Banks and Sovereign Wealth Funds.

At F&C Mr. Chua will report to Cristóbal Méndez de Vigo. Mr. Méndez de Vigo joined F&C's Executive Committee last year as Head of Distribution & Business Development after eleven years with Allianz Global Investors, mainly based in Hong Kong as Head of Strategic Planning and Business Development for the Asia Pacific region and then as CEO of Allianz Global Investors Australia Limited. Since joining F&C Mr. Méndez de Vigo has integrated the firm's institutional and wholesale distribution teams and made several key hires. F&C has recently established a number of new distribution relationships including agreements in Spain, Italy, Russia and Chile.

Cristóbal Méndez de Vigo, Head of Distribution & Business Development at F&C, commented: "This is an important step in the development of F&C as a truly global asset management business and will extend our office network to ten countries. F&C has had a long and successful association with Asia. We placed our first investments in mainland China in 1886, in Taiwan in 1932, Hong Kong in 1934 and Singapore in 1941 and we have developed an excellent track record of investing in the region. We are already working with Friends Provident International to support their business in Asia, so it is therefore an exciting and natural additional move for F&C to establish a regional operation to develop our Asian client base. We are delighted that we have found such a high calibre executive in Alvin to spearhead this initiative."

Alvin Chua, Head of Distribution and Business Development, Asia, added: "The Asia region is the engine of global growth and the long term prospects continue to be outstanding. With strong inflows from Sovereign Wealth Funds, Central Banks, Corporates and High Net Worth individuals, the opportunities for asset managers are considerable. F&C, which has a long and impressive track record as a pioneer within the asset management industry and today manages money on behalf of over three million people, has signalled a clear commitment to developing an Asian business and I am very excited about the opportunity to be part of this."