Allspring opens Singapore office with industry veteran as new CEO 

Allspring Global Investments, an independent asset manager with more than $476bn in assets under management, opened its new office in Singapore while also naming former Natixis manager Tan Song Chao (Gary Tan) as a portfolio manager on the Intrinsic Emerging Markets Equity team and executive director/CEO of its local entity in the South East Asian city-state.

Tan joins Allspring with over 18 years of experience working for global asset managers. As part of the Intrinsic Emerging Markets Equity team, he will join Portfolio Managers Derrick Irwin, Richard Peck and Prashant Paroda and will report to Jerry Zhang, senior portfolio manager and head of the Intrinsic Emerging Markets Equity team.

In his role as executive director and CEO of the local entity, Allspring Global Investments (Singapore) Pte. Ltd.,he will supervise day-to-day operations and work to build the company's presence in this key market.

Tan has extensive experience analysing and investing in companies in Asia and emerging markets combined with deep knowledge of the Singapore market. Before joining Allspring, Gary was lead portfolio manager for Asia equity strategies at Natixis Investment Managers.

Before that role, he was a research coordinator and lead analyst for Greater China, North Asia and Australia and a global emerging markets environmental, social and governance coordinator with Natixis.

"We are delighted to welcome Gary to our team. His experience and background will offer additional perspective to our emerging market equities research as we seek quality companies at compelling prices. Our team has a disciplined focus on companies positioned to offer both potential downside protection and the ability to sustain high profitability", said Jerry Zhang.

Andy Sowerby, head of the International Client Group at Allspring, added: "We are continuing to expand our international footprint and welcome Gary Tan to Allspring. Our expertise in emerging market equities is critical to our client base, and growing the team in key markets is an important objective".