Manulife Asset Management has hired Jim Chang as new CEO and Karen Chang as new chief investment officer for Taiwan unit.

Chang, who has over 26 years of experience in the asset management industry, has held senior management roles with global financial services providers in Taiwan. He is also actively involved with the Securities Investment Trust & Consulting Association (SITCA).

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Karen Chang will be replacing Andrew Wang in her new role. She worked as head of Taiwan equity investment with Manulife AM (Taiwan) from 2009 to 2014 and also held senior investment management and fund management roles with several global fund management firms.

Manulife Asset Management (Asia) head of affiliate wealth Shirley Lam said: "Taiwan is one of the wealthiest territories in Asia, but our research reveals that its rapidly aging population is facing challenges to meeting their saving and investment goals.

"We are very pleased to welcome Jim and Karen to the team and believe they will help Manulife AM (Taiwan) reach new heights."

Manulife AM (Taiwan) chairman Michael Huddart said: "Jim and Karen bring intimate knowledge of constituent markets and will help the company continue to deliver the products and services that Taiwan investors require to meet their financial goals."

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Lam said: "Andrew has played a key role in building the company to its current position as a trusted investment partner in Taiwan. We wish him well as he moves to another strategically important position in Manulife Asset Management’s Asia franchise."