Morley Fund Management (‘Morley’), a leading UK-based asset management company, has further strengthened its Asian team with the appointment of Steven Choy as Chief Executive Officer of Morley Fund Management (Singapore) Limited (‘Morley Singapore’), with effect from 1st June 2001. The position is a new one, reflecting Morley's growing ambitions in the region.
Morley Fund Management ('Morley'), a leading UK-based asset management company, has further strengthened its Asian team with the appointment of Steven Choy as Chief Executive Officer of Morley Fund Management (Singapore) Limited ('Morley Singapore'), with effect from 1st June 2001. The position is a new one, reflecting Morley's growing ambitions in the region.
Mr Choy, who has more than 15 years' experience of working in financial services in Asia, joins Morley from CGU Asia in Singapore, where he was Planning and Finance Director Asia. He was previously General Manager Malaysia for Commercial Union, having joined what is now the CGNU Group in 1995 from Credit Corporation. Mr Choy obtained a BComm from The University of New South Wales, Australia and an MBA from Oklahoma City University, USA.
Mr Choy, who was previously a non-executive Director of Morley Singapore, will be responsible for leading the Company's operation in Singapore and developing its strategy across Asia (ex Japan). Singapore has been identified as a key hub for future Asian asset management development by Morley. Morley Singapore currently manages Asia-Pacific equity portfolios totalling almost S$4.8 billion (U$2.66 billion), primarily for overseas investors, in addition to distributing Morley's international products to Asian institutional clients.
Andrew Kwek, Managing Director of Morley Singapore, continues to be responsible for the Company's regional sales and marketing activities, and Sheree Tan continues to head the fund management team as Chief Investment Officer. Both will report to Mr Choy.
Commenting on the appointment, Keith Jones, Chairman of Morley Singapore, said: 'We are delighted to welcome Steven to his new role as leader of Morley's team in Singapore. His knowledge and experience of financial services in Asia will greatly assist Morley in achieving our ambitious goals in the region. His appointment reflects our commitment to develop a strong base in Singapore, with a business led and executed by high quality people.'
Commenting on his appointment, Mr Choy said:
'I am very much looking forward to the challenge of rapidly developing Morley's operation in Asia. The Company has established itself in Singapore over a number of years, and is now looking to expand rapidly worldwide. It's a very exciting time to be joining Morley.'
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For further information please contact:
| Morley Fund Management | |
| Vicki Rhind, Head of Marketing Communications | 020 7809 |
| Steven Choy, Chief Executive Officer, Singapore | + 65 232 5086 |
| Scotchbrook - BSMG Worldwide (Singapore) | |
| Joanne Chong, Consultant | + 65 235 3121 |
Notes to Editors
Morley Fund Management is an independently managed, London based, asset management business with Ł104 billion under management. It has investment professionals based in Boston, Tokyo, Singapore and an associate office in Dublin.
Morley is wholly owned by the CGNU Group and manages institutional funds under the Morley brand. It also acts as investment manager for a range of retail investment funds, marketed under the Norwich Union brand.
CGU plc and Norwich Union plc merged on 30 May 2000 to create CGNU plc, the UK's largest insurance group and one of the top-five insurers in Europe with substantial positions in other markets around the world, making it the world's sixth largest insurer based on gross worldwide premiums.
Morley Fund Management is a business name of Morley Fund Management Limited (incorporated in England with Registered No. 1151805 and Registered Office 1 Poultry London EC2R 8EJ) and Norwich Union Investment Management Limited (incorporated in England with Registered No. 2152949 and Registered Office 8 Surrey Street Norwich NR1 3NG) both regulated by IMRO in the conduct of investment business in the United Kingdom and members of the CGNU Group.
Issued by Morley Fund Management and Morley Singapore.