Mirae Asset strengthens overseas operations

Mirae Asset Global Investments, one of KoreaÆs leading asset-management companies, has appointed two senior executives to its London office. Hendrik Cosijn von Ripperda joins the long-only emerging market specialist investment firm as head of European ex-UK distribution and Andrew Lawley joins as head of UK distribution and global consultant relationships.

Both will play a vital role in the development of Mirae AssetÆs European business, in preparation for the launch of a range of SICAV funds in the coming months. The new hires are in line with Mirae AssetÆs efforts to expand its business in overseas markets.

ôThe arrival of Mirae Asset in London underscores our determination to develop our business internationally and to continue to deliver innovative emerging market investment solutions for clients around the world,ö says Chunyong Rhie, CEO of Mirae Asset Global Investments (UK).

The UK is a natural base from which to launch Mirae AssetÆs European activities, and the firm aims to build the business by applying the same principles that is uses in Asia. The Mirae Asset approach focuses on building long-term value for clients through bottom-up stock selection.

Cosijn von Ripperda joins Mirae Asset from KI Asset Management, a London-based hedge fund, where he was head of distribution. Prior to that, he was a director for Europe with the emerging market private equity placement group Liberty Global Partners. He was also a founding director of Mulier Capital, a London-based investment banking firm. He was also a senior consultant at the Brussels-based EastWest Institute and he was a diplomat with the Netherlands Disarmament Delegation to the United Nations.

Lawley joins Mirae Asset from Credit Suisse where he was a vice-president and head of consultant relationships within the UK institutional distribution team. Prior to joining Credit Suisse, he worked at JPMorgan for seven years where he was a senior relationship manager within the UK institutional business. He started his career at State Street Bank.

Mirae Asset Global Investments (UK) is a wholly owned subsidiary of the Mirae Asset Financial Group, and is authorised and regulated by the Financial Services Authority.

In less than a decade Mirae Asset Financial Group has become one of Asia's largest independent financial services groups. Globally, the diversified businesses of the group have $128 billion in assets under management (as of March 2008).

Based in Korea, Mirae Asset has investment management operations in Hong Kong, Singapore, UK, India and Vietnam, with plans for further international expansion. The Mirae Asset team includes more than 360 investment professionals dedicated to asset management in Asia and other emerging markets.