Deutsche Asset Management has hired Sharon Cheng as head of retail sales for its Asia ex-Japan businesses. The newly created position is aimed at boosting the firm’s efforts in the retail market across the region.Cheng joins the firm from Citigroup Asset Management where she has worked as director of sales and distribution for the past two and a half years. Prior to this, she worked for Standard Chartered developing its investment services department.
At Deutsche, her first task will be to hire a team of sales people in preparation for the launch of a range of retail funds products. This will include traditional and alternative products, such as principal-protected yield enhancement products, which the firm plans to launch in the next two to three months, said Singapore-based chief executive of Deutsche Asset Management Asia, Choy Peng Wah.
He added that investors in the region are looking for higher returns through yield enhancement products in the current low interest rate environment.
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