German regional bank extends fund management to Asia

For now WestAM concentrates on bank relationships, but hopes to woo consultants too.

WestAM, the asset management arm of WestLB, Germany's largest landesbank regional bank, with $40 billion under management, has begun marketing to institutional investors in North Asia.

Rupert Rucker, director and head of new business development and client servicing for Asia ex-Japan, has been pounding the pavement from his new base in Hong Kong. He says the firm has a 10-year plan for breaking into asset management in the region, starting by leveraging contacts from WestLB, which has had a presence in markets such as Hong Kong for decades.

Cold calling doesn't work in Asia, Rucker says. I've tried it. The prospect will give you...

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