TAIPEI, Taiwan & HARTFORD, Conn.--()--Cathay Financial Holding Co., Ltd. (TWSE: 2882), a leading financial services provider, and Conning, one of the largest global asset managers focused on the insurance industry, today announced the appointment of Timothy Matson as Chief Investment Officer for Cathay Conning Asset Management Limited. Cathay Conning Asset Management Limited received final licensing approval from the Securities and Futures Commission in Hong Kong on February 24, 2012 to begin implementing their business strategy and establish a broad-based strategic partnership providing institutional asset management services in the Asia Pacific region.
“The appointment of Tim Matson is a very important milestone in the development of our Asian business,” stated Woody E. Bradford, Conning’s President and Chief Executive Officer. “He brings to Cathay Conning Asset Management Limited deep Asian market investment knowledge and broad-based expertise with both credit- and interest-sensitive securities. His leadership will help us identify and deliver valuable investment solutions for our clients, and we are delighted to welcome him.”
“We are very pleased to welcome Tim to Cathay Conning Asset Management Limited,” stated C.K. Lee, President of Cathay Financial Holdings. “We believe he is a great addition to our team, and we very much look forward to working with him as we expand our asset management capabilities in the Asia Pacific region.”
Mr. Matson joins Conning Cathay Asset Management Limited from ING Insurance U.S. where he served as Head of Investments, and had responsibility for setting strategic asset allocation, establishing and monitoring investment mandates and performance, and advising on investments for the U.S. general account. Prior to that, he spent ten years in Asia, most recently as Regional Head of Fixed Income for ING Investment Management based in Hong Kong, with responsibility for both proprietary and third-party assets. Mr. Matson previously served as Chief Investment Officer for Aetna International’s insurance subsidiary in Kuala Lumpur, Malaysia, and also worked at Aetna’s money management subsidiary, Aeltus Investment Management. He received his B.A. and M.B.A. degrees from Cornell University and is a Chartered Financial Analyst and member of the Hartford CFA Society.
Conning recently announced the appointment of Russell Büsst to the new position of European Chief Investment Officer. Mr. Matson and Mr. Büsst will work closely with U.S. CIO Richard Sega to execute a balanced global investment strategy. “It is exciting to think about the dramatic range and breadth of talent and experience we now have,” said Sega. “It truly highlights the deep commitment we’ve made to provide our clients the best possible products and services both globally and in key market centers.”
Under the terms of the joint venture agreement, Cathay Financial Holding Co., Ltd. and Conning each own 50% of Cathay Conning Asset Management Limited, which will be based in Hong Kong.
About Cathay Financial Holding Co., Ltd.
Cathay Financial Holding Co., Ltd. (www.cathayholdings.com.tw) is the largest financial holding company in Taiwan and a leading provider of financial products and services. The company’s primary subsidiaries include Cathay Life Insurance, Cathay United Bank, Cathay Century Insurance, Cathay Securities Investment Trust and Cathay Securities. As of December 31, 2011, the company had total assets of over US$166 billion and over 12 million customers. In recent years, Cathay Financial Holdings has also increased its presence in Asia, including establishing life insurance, property & casualty insurance and banking operations in China and Vietnam.
About Conning
Conning (www.conning.com) is a leading asset manager for the insurance industry, with almost $88 billion in assets under management as of December 31, 2011 through its global investment centers and Goodwin Capital Advisers unit. For more than 25 years, Conning has built its asset management business to meet the investment and financial needs of insurers and other liability driven investors. The Company’s unique combination of asset management, risk and capital management solutions and insurance research helps clients achieve their financial goals through customized business and investment strategies. Founded in 1912, Conning is headquartered in Hartford, Connecticut, with additional offices in New York, London, Dublin, Cologne and Hong Kong.
Note: Logos for both companies available upon request.