Permal adds two China specialists in country ramp-up

Permal Group is building up its China expertise with the recent additions of distribution specialist Matthew Yao, previously of ING Investment Management Asia-Pacific, and Yale University finance professor Zhiwu Chen. Chen takes on a consultancy role as chief adviser at Permal, the $23 billion fund-of-hedge-funds affiliate of Legg Mason, where he is expected to provide insights on China and Asia to the firm’s investment committee. An author of books on China’s economy and emerging…