Aegon Asset Management has appointed Franky Tam as general manager of its wholly foreign-owned enterprise (WFOE) subsidiary in China, reporting to Mabel Cho, regional head of Asia at Aegon AM.
In his new role, Franky Tam, who will be based in Shanghai, will initially focus on the completion of the licence registration with Asset Management Association of China and the launch of a qualified domestic limited partnership (QDLP) fund. Operating a QDLP WFOE is the prerequisite to launching an onshore private fund for Chinese high-net-worth and institutional investors to invest in offshore traditional and alternative strategies.
Tam joined Aegon AM in March 2019 as China sales director in Hong Kong. Prior to this, he was the vice-president of China institutional and retail business at Neuberger Berman in Shanghai, where he helped the firm implement its China onshore and offshore strategy.
“[Tam’s] appointment and his role in establishing a QDLP WFOE is the next step in our expansion in China,” Cho says. “We have strong growth ambitions for the region and this new entity will enhance our ability to bring our investment strategies to Chinese investors in China.”