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Galleon Group, a New York-based USD7.3bn alternative asset manager, has announced the appointment of David Lau as a senior portfolio manager and partner overseeing the firm's new Singapore office.

Lau, who will report to Galleon founder, chief investment officer and managing general partner Raj Rajaratnam, was previously a managing director and joint head of global financial markets at Development Bank of Singapore.

He joined DBS in 1999 and also served as chairman of DBS Vickers Securities and as a member of the DBS Group Holdings management committee. He is currently president of the Financial Markets Association (ACI Singapore) and a member of the Singapore Foreign Exchange Markets Committee.

Lau helped build out the DBS business from a traditional provider of treasury and cash management services into derivatives, structured products across foreign exchange, interest rates, credit, equity, and commodity asset classes, and helped the back to be recognised as one of the top currency houses in Asia.

'We are delighted to welcome David to Galleon,' Rajaratnam says. 'His experience in the region's financial markets and proven leadership credentials will strengthen our franchise in Asia and around the world.'

Galleon's Singapore office includes some 20 professionals, about half of whom have relocated from the firm's New York headquarters. Among other duties, Lau will be responsible for co-managing the USD1.2bn Galleon International Fund.

Galleon has a 15-year track record in alternative investment, specialising in long/short equity strategies with a focus on major growth sectors. The firm launched its emerging Asian markets strategy in 2006.

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