Australian headquartered Macquarie Asset Management, part of the Macquarie Group, makes senior hire to support the growth of its wealth business in Asia.

Macquarie Asset Management has just appointed David Chang (pictured) as head of wealth distribution, Asia.

The newly-created role reflects the growing interest of Asian wealth management clients in Macquarie Asset Management’s infrastructure and energy transition strategies, the firm said in a statement.

Based in Singapore, Chang will work with Macquarie Asset Management’s global network to expand the business’ wealth offering in Asia, a region that has seen dramatic growth in the private wealth segment.

Chang, who has more than two decades of wealth management experience, was formerly head of Asia at Lord, Abbett & Co, responsible for business development, relationship management, and capital raising across Abbett & Co’s investment strategies in Asia.

Before that, Chang led JP Morgan Asset Management’s private bank distribution, covering alternatives as well as fixed income, equities, and multi-asset solutions. He has also worked at Goldman Sachs in both the US and Asia.

“We are seeing significant demand from Asian wealth clients for access to alternative assets, as they seek to diversify their portfolios,” Kimberly LaPointe, Macquarie Asset Management’s head of wealth, said. “David will play a key role in expanding our wealth strategies in Asia through existing and new partnerships with wealth management firms in the region.”

Macquarie Asset Management, which has been operating in Asia since 1995, is active across eight Asian markets, including Hong Kong and Singapore. The firm expects that global wealth channels will contribute an increasing amount of capital towards Macquarie Asset Management’s private markets platforms over the coming years.

Macquarie Asset Management manages approximately $633.7 billion in assets and provides a range of investment solutions including real assets, real estate, credit and equities and multi-asset.