Kookmin-ING JV hires CIO

Paul Armstrong moves from Hong Kong to Seoul to take up the new post.

KB Investment Trust Management in South Korea has hired Paul Armstrong for a new role of CIO. Armstrong has been an independent asset management consultant in Hong Kong for the past four years, working for Fidelity Investments as a consultant investment director, among others. He has just moved to Seoul to start his new job.

The CIO role has been created to provide coordination and strategy to KB ITM’s existing equities and fixed-income investment teams, explains Garry Pieters, executive vice president of the W9.1 trillion $7.7 billion fund management firm, a joint venture between Kookmin Bank and ING Investment Managers.

Kim Yong-il manages the equities investment team, while fixed...

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