Macquarie Asset Management has appointed David Chang as Head of Wealth Distribution, Asia. This newly created position reflects the increasing interest among Asian wealth management clients in Macquarie Asset Management’s infrastructure and energy transition strategies, according to a statement from the Australia-based fund manager.
Based in Singapore, Chang (pictured) will work closely with Macquarie Asset Management’s global network to expand the business’ wealth offering in Asia.
Chang has over two decades of wealth management experience and joins Macquarie from Lord, Abbett & Co. LLC, where he was the head of Asia for business development. In that role, he was responsible for business development, relationship management, and capital raising across Abbett & Co’s investment strategies in Asia.
Before that, Chang led JP Morgan Asset Management’s private bank distribution, covering alternatives as well as fixed income, equities, and multi-asset solutions. He has also held positions with Goldman Sachs in both the US and Asia.
Kimberly LaPointe, Head of Wealth at Macquarie Asset Management, stated, “We are thrilled to welcome such a proven leader in wealth distribution to our team in Asia. We’re seeing strong demand from Asian wealth clients for alternative assets as they look to diversify their portfolios. David will play a pivotal role in expanding our wealth strategies in Asia, both through existing and new partnerships with wealth management firms in the region.”
Macquarie Asset Management has been active in Asia since 1995, with a presence in eight Asian markets, including Hong Kong and Singapore.
The statement also noted that global wealth channels are expected to contribute an increasing share of capital to Macquarie Asset Management’s Private Markets platforms in the coming years.