Deutsche Asset hires for retail splash

Hiring Sharon Cheng from Citigroup is meant to boost the fund managerÆs presence among retail distributors.

Deutsche Asset Management has hired ex-Citigrouper Sharon Cheng for a newly created role as head of retail sales for Asia ex-Japan. Cheng, based in Hong Kong, is meant to make DeAM a household name.

Her first task will be to hire a team of sales people to support the launch of new products.

This is not a new strategy, says Singapore-based Choy Peng-wah, CEO of DeAM Asia. In the past when working with distributors, we've been low key. We want to diversify across retail, and hiring Sharon puts a focus on telling people we're active players. DeAM is well known among private bankers but its name isn't seen...

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