Fiduciary won't replace marketer

Attrition is at work as Serena Kwok decides to leave the industry.

Serena Kwok has resigned as marketing director at FTI Institutional (Fiduciary Trust International) in Hong Kong after five and a half years there. Managing director Thomas Duffy says the firm has no immediate plans to replace her. He has, however, asked her to stay on as a consultant for a few months. Kwok is expected to maintain a role with the firm until September.

"The main reason for my leaving is that I would like to take some time off to spend with my family and do work for my church," Kwok said in a letter to FinanceAsia.

Fiduciary is an arm of Franklin Resources, the institutional sibling to Templeton. It has a presence in eight Asian markets and manages over $10 billion in the region. It was named the best performer in one-year global fixed-income (unhedged) for 2003 by AsianInvestor magazine. But most of its marketing efforts are presently focused on Japan and Australia, as well as Hong Kong, says Duffy, so there isn't an urgent need to hire a new Asian marketer. He adds that the firm has notched several new mandates among Japanese and Hong Kong financial institutions and pension funds for income-producing strategies.

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