JPMorgan Asset Management names a new Singapore chief following the announcement that its current head is relocating to Australia to assume a new senior role.

JP Morgan Asset Management has appointed a new chief for its Singapore business.

Steven Billiet assumes the role of chief executive, with overall responsibility and oversight for the investment management business in the city-state, as well as day-to-day management of the funds arm. He will also be actively engaged with clients and regulators, while overseeing the development of JP Morgan AM's South East Asia operations. 

Billiet was previously the CEO of ING Investment Management Asia-Pacific in Singapore. He had been with ING for 19 years, holding senior positions as CEO of investment management in Australia, CEO of IM in Taiwan, India country  head of private banking and wealth management and head of product and sales for IM in Belgium.

He takes over from Andrew Creber, who will relocate to Australia to become the chief operating officer of JP Morgan AM Australia in the first quarter of 2014. 

The company has 42 funds for retail distribution in Singapore. It also launched its Market Insights programme in the region in 2012, which is designed to provide tools and knowledge for financial professionals and their clients to make more informed investment decisions.

The announcement comes on the heels of the relocation of Paula Stibbe from New York to Hong Kong as the new head of liquidity sales for Asia-Pacific. Stibbe is taking over from Travis Spence who has been named head of global strategic relationship grop for Asia-Pacific ex-Japan.