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MFS Steps Up Asia Expansion With Korea Hire

Tara Loader Wilkinson Editor Asia July 16, 2012

MFS Steps Up Asia Expansion With Korea Hire

MFS Investment Management has hired a director of relationship management for Korea, the latest stride into Asia-Pacific for the US fund manager.

Hyung-Uk (Anselmo) Park joined MFS from Mirae Asset Global Investments where he had spent five years and held the position of head of international marketing. He had also worked for Mirae Asset Securities and Citibank. Park is based in Singapore and reports to Jonathan Tiu, senior managing director, Asia ex-Japan.

MFS's expansion in Asia includes the recent opening of a stand-alone research and sales office in Hong Kong, located in the Wheelock House in Central area. Lily Cheung, director, relationship management, has relocated from Singapore to the Hong Kong office, as has Asian equity research analyst Eleanor Shing.

Cheung will be focusing on MFS clients in Hong Kong in addition to covering the South Asian region.

The growth of MFS's business in the Asia-Pacific region also has led to new larger office quarters for MFS Singapore and MFS Sydney. MFS Singapore recently relocated to a larger office space in a different floor of Wheelock Place in Singapore Orchard Road area.

MFS also expanded its Australia business, opening MFS Sydney this month in a new office building.

The opening of the Hong Kong office, together with the opening this year of an investment research office in Sao Paulo, Brazil, brings the number to nine MFS investment research offices globally. MFS unveiled a new logo and brand positioning last month and, with the planned move of its home office to a new building in Boston at the end of this year, the company intends to create a common appearance and corporate identity among all its investment and distribution offices globally.

MFS has offices in Boston, Hong Kong, London, Mexico City, São Paulo, Singapore, Sydney, Tokyo, and Toronto. The firm’s history dates back to 1924, and the establishment of the first US “open-end” mutual fund. MFS managed $278.2 billion in assets on behalf of individual and institutional investors worldwide at end June 2012.

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