Baltimore-based investment management firm T. Rowe Price Group Inc (T. Rowe Price) has hired former BlackRock Asset Management (BlackRock AM) vice president (VP) of multi-asset solutions Wenting Shen as a solutions strategist for Asia Pacific (APAC).
Based in Hong Kong, she reports to Thomas Poullaouec, head of multi-asset solutions for APAC, and becomes a member of the company’s regional multi-asset division team, according to a January 31 statement.
“T. Rowe Price’s multi-asset division continues to see ample growth opportunities in Asia Pacific, driven by demand among investors for comprehensive investment solutions in an era of changing demographics and falling yields,” says Mr. Poullaouec. “Our products, such as our recently launched target-income funds and target date funds with Korea Investment Management in South Korea, offer access to investments in a broad set of countries, sectors and capital structures.”
Ms. Shen has been assigned to working with the team to create customised multi-asset solutions to meet the growing needs of T. Rowe Price’s clients across the region. According to the firm, “her addition to the team forms part of a strategic expansion of T. Rowe Price’s multi-asset division regionally and globally, which includes the recent appointment of Nick Samouilhan as a solutions strategist – EMEA [Europe, the Middle East and Africa], in London”.
Mr. Poullaouec adds: “The appointment of Wenting to our team underscores T. Rowe Price’s commitment to providing investors with targeted investment solutions, backed by our world-class global equity and fixed income strategies. We are delighted to welcome Wenting to the team, and are confident that her in-depth knowledge and experience in developing strong portfolios will further strengthen our multi-asset division’s offerings in the region.”
Ms. Shen has over ten years of APAC investment industry experience. Prior to her VP role at BlackRock AM, she held various investment banking roles at J.P. Morgan Securities.
T. Rowe Price had US$991 billion in AUM as at December 31, 2017, while its multi-asset division had AUM of $292.6 billion.