Threadneedle, the investment arm of Ameriprise Financial, has appointed Raymundo Yu to the newly created position of Asia Pacific chairman.
Yu’s appointment will build on the presence of Ameriprise’s asset management businesses in Asia, leveraging the investment capabilities of Threadneedle and its sister company Columbia.
Yu says: “The opportunity in Asia for Threadneedle and Ameriprise Financial is an exciting one and I am looking forward to working with the team as we build the business. Asia is a highly competitive and developed investment market and I believe the outstanding long-term performance record and solutions-based approach of both Threadneedle and Columbia will appeal to investors in the region. We hope to bring something new to the marketplace, combining a genuine client-focused approach and service with sustainable, long-term out-performance across asset classes.”
Yu is a senior financial services executive with almost 30 years experience gained working across Asia, the Middle East, Europe, the UK and in the US.
Yu was a member of the Merrill Lynch operating committee and was chairman, Asia Pacific region at Merrill Lynch from July 2000 to December 2008, where he was responsible for leading an integrated platform across businesses and geographies.
Prior to this role Yu held a variety of senior positions at Merrill Lynch including being appointed as the firm’s first Singapore-based regional director, with responsibility for managing private client activities in Asia Pacific, Australia, India, Japan, the Middle East, Europe and the UK, and the Asian business in the US.
Crispin Henderson, chief executive officer of Threadneedle, says: “We are delighted that Raymundo has chosen to join Threadneedle and Ameriprise Financial. He is a senior leader who has built and managed substantial client-focused businesses across Asia Pacific, and brings a strong track record of driving sustainable growth in the region."
Threadneedle established a presence in Asia in 2008 and has offices in Hong Kong and Singapore.
