London-based global asset manager, Threadneedle, the international investment arm of Ameriprise Financial, have this week confirmed the appointment of Raymundo Yu as Asia Pacific Chairman; a newly created role. Yu’s hire is a clear sign that Threadneedle are focusing their attention on what is currently one of the world’s most dynamic regions for investment. In addition to building out relationships, Yu will be asked to further consolidate Ameriprise’s asset management business by drawing Asian investors’ attentions to Threadneedle’s well-established investment expertise. Asian hedge fund startup numbers are healthy this year but locking in fresh assets remains the core challenge for all fund managers – having an international presence and actively managing USD96billion in AUM means Threadneedle are well positioned. Commenting on the new role, Yu, an international financial services executive with over 30 years’ experience, eight of which were spent as Chairman, Asia Pacific Region for Merrill Lynch from July 2000 to December 2008, said it was an exciting time for the business in what is a highly competitive and developed investment market. “We hope to bring something new to the marketplace, combining a genuine client-focused approach and service with sustainable, long-term out-performance across asset classes,” Yu said in the firm’s official press release. Commenting on the appointment, Threadneedle CEO Crispin Henderson (pictured) said: “We are delighted that Raymundo has chosen to join Threadneedle and Ameriprise Financial. He is a senior leader who has built and managed substantial client-focused businesses across Asia Pacific.”