Wellington creates Hong Kong presence

The fund management company has hired Ada Mak to market to North Asia institutions.

Wellington International Management has hired Ada Mak in Hong Kong to handle institutional marketing and to explore opening an office there. Sources say Wellington is interested in obtaining licenses for its offshore products from the Hong Kong Securities and Futures Commission. There is no firm timetable for doing so, however.

Mak previously headed up regional distribution for Merrill Lynch Investment Managers, reporting to Seiichi Fukuyama in Hong Kong. MLIM's Asian business was curtailed in cost-cutting measures in early 2002. She could not be reached for comment.

Wellington International is the ex-United States arm of Wellington Management, the Boston-based fund powerhouse with over $300 billion under management. It is a dominant...

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