Fund manager Invesco has acted swiftly to replace its departing Asian chief investment officer Patrick Shum, who left the firm this last month.
It has appointed Paul Chan, formerly head of Invesco's Hong Kong pension business, to fill the job.
Shum is believed to have joined Goldman Sachs, but Investor Weekly could not confirm the move last month.
He joined Invesco as chief investment officer in November 2004 from Asia Strategic Investment Management, a company he co-founded.
Standard and Poor's Fund Services (S&P) placed the three-star-rated Invesco Asian Share Fund on hold following the resignation of Shum.
"Shum is considered a significant departure, for he is highly experienced and acts as much in the capacity of a head of equities as a chief investment officer," S&P fund analyst Tara Bell said.
