Elsie Chan has been appointed Head of Asia Pacific Distribution to lead the firm’s distribution teams based in Australia, Japan, Hong Kong and Singapore. She takes up the reins from Nick Trueman who has become the new Head of Europe, Middle East and Africa Distribution. Chan joined T. Rowe Price in Hong Kong in 2015 to build out the financial intermediaries business in Asia and took on an expanded role as Head of Asia ex-Japan Distribution in 2018 to oversee the institutional and intermediary businesses in the region. She assumed her new role on September 1, and reports to Scott Keller, Head of Americas, Asia Pacific and EMEA (AAE), a business area that was formed at the end of 2021 to leverage the synergies and business practices to support clients in the Americas, Asia Pacific and EMEA.

Chan assumes responsibility for all of Trueman’s direct reports in APAC. Under Chan’s leadership, T. Rowe Price will continue to build on and execute the multi-year growth plans set forth for Asia Pacific, building a sustainable and diversified business to service its client base of institutional investors and financial intermediaries. 

“Elsie has all the appropriate competencies and vision for this role and has the support of a high-quality team behind her. She has been successful in driving the expansion of our business in Asia ex-Japan and is well-positioned to lead the firm’s next phase of growth in Asia Pacific. I am delighted that we are able to draw from our large base of talent to provide both Nick and Elsie the opportunity to develop their careers within the organization,” Keller commented.

Chan has more than 20 years of industry experience, and prior to joining T. Rowe Price she was a Managing Director at UBS Global Asset Management, leading distribution and product teams.

As Chan takes on a broader role, she has appointed a leadership team for the Asia ex-Japan distribution business. Glen Lee, who joined in July as Head of Asia ex-Japan Intermediary Business, will continue to lead the intermediary distribution teams in Hong Kong and Singapore to deepen the firm’s partnerships with private banks, retail banks and insurance companies. Sae Joon Choi is named Head of Southeast Asia and Korea Institutional Distribution, based in Singapore. George Chow is named Head of Greater China Institutional Distribution Business, based in Hong Kong. Choi and Chow joined T. Rowe Price in 2014 and 2015 respectively and have played a key role in the growth of the firm’s institutional business in Asia.

“The appointments reflect T. Rowe Price’s success and vision in the region, as well as our commitment to further strengthen local support to clients,” Chan said.

T. Rowe Price established its presence in the Asia Pacific region in 1982 with the opening of its Tokyo office and has subsequently added offices in Hong Kong, Singapore, Sydney, Melbourne and Shanghai. The firm’s global investment platform spans across equity, fixed income, multi-asset solutions and alternatives. 

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Mike Weigand

T. Rowe Price has announced the appointment of Mike Weigand to the newly created role of Asia Pacific (APAC) Regional Operating Officer, effective April 1.

The appointment underscores T. Rowe Price’s commitment to meeting the needs of a growing APAC client base and the continued enhancement of the firm’s operations in the region.

Weigand brings nearly two decades global management experience. He was previously T. Rowe Price Group’s Head of Internal Audit based at the firm’s headquarters in Baltimore, USA, a role that he had held since joining the firm in 2018.

In his new role in Hong Kong, he will provide local coordination and cross-functional guidance to several functions within the region, including client account services, investment operations, enterprise risk, finance, enterprise change, tax, human resources, legal and compliance, procurement, technology, and real estate and workplace services. He will continue to report to Baltimore-based Céline Dufétel, Chief Operating Officer and Chief Financial Officer. Dufétel is also a member of T. Rowe Price’s Management Committee.

Dufétel said, “Filling this leadership position is an important step for the firm as we further grow in size and complexity in APAC. This reflects our continued efforts to drive local empowerment and decision-making, and strong functional support in the region. Mike brings a solid risk and controls background to the role, as well as his experiences leading our firmwide response to the pandemic. With Mike’s leadership and vision, I am confident that we will continue to strengthen our regional operations, enabling robust cross-functional collaboration and timely decision-making in support of our clients across a complex and dynamic region.”

Nick Trueman, Head of Distribution, APAC, said “T. Rowe Price is committed to building a sustainable business in the region. On the back of accelerated growth in recent years, we have continued to add resources to our middle- and back-office and supporting functions. We are excited to have Mike in the region to lead the next phase of growth of our operations, providing our clients with stronger local support.”

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