BlackRock names a former Schroders executive as its new country head for Korea to replace outgoing leader Sung Nak Yang.

BlackRock, the US-based investment management firm, has named a former Schroders executive as its new country head for Korea.

Effective 3 June 2014, Choi Man-Yeon replaced Sung Nak Yang as head. Sung will stay with the company until 23 June to ensure a smooth transition. It is not known to where he will move. 

Choi brings in almost 30 years of local and international industry experience and most recently served as head of sales in Korea at Schroder Investment Management. He left that company in 21 March. Prior to that, he spent over 15 years at Korea Investment Trust and worked across a number of roles including portfolio management, global investment, research and sales both in the US and Korea. 

In his new role, he will be responsible for overseeing and leading all of the BlackRock's Korea business interests. He reports to Andrew Reynolds, chief financial officer and head of corporate strategy for Asia-Pacific. His old role at Schroders will be assumed by Korea chief executive Jeon Kil Soo in the interim.

The announcement complements the firm's Asian growth strategy, which was marked recently by the appointment of Helen Zhu as managing director and head of China equities. Zhu, who joined the company from Goldman Sachs, assumes her new role in 7 April.