Mirae Asset Global Investments
has upped its stake in the United States by promoting three senior executives in its American subsidiary.
Effective immediately, the company promoted Peter Graham
to the position of chief executive officer of Mirae Asset USA
Meanwhile, Robert Mulligan
was promoted to president and Robert Shea
was appointed to chief operating officer of the subsidiary.
Graham and Mulligan assume the positions previously held by Joon Kwun
, who is relocating to Seoul to assume a senior management position leading the firm's business development initiatives across Asia.
Meanwhile, the two top executives continue to maintain their old jobs.
For example, Graham will also continue to serve as president of Mirae Asset Discovery Funds
as well as head of marketing and product development. According to the company, he was first recruited to Mirae's U.S. business in 2009, spearheading the firm's entry into the U.S. mutual fund market as well as building out its U.S. product line and marketing initiatives.
Mulligan will retain his role as head of sales and distribution, leading the firm's U.S. retail and institutional efforts. He was recruited by Mirae Asset USA in 2010 as head of strategic relationships to develop the firm's retail distribution network. He was named head of retail sales and distribution in early 2012 and assumed the role of head of sales and distribution later last year.
Mirae Asset USA's investment team has 11 equity and fixed income professionals and is supported by MAGI professionals throughout the firm's global network. José Morales
remains chief investment officer of Mirae Asset USA.
Here is the press release:
Company Press Release
Peter P. Graham Appointed CEO
Robert P. Mulligan Appointed President
Robert E. Shea Appointed COO
Emerging Markets Expert Names Three Veterans of Its U.S. Business to Key New Roles
NEW YORK, March 5, 2013 (GLOBE NEWSWIRE) -- Mirae Asset Global Investments Co., Ltd. ("MAGI") today announced that three veterans of its U.S. business have been elevated to new roles in a strategic move to build on the firm's sales and marketing momentum. Effective immediately, Peter P. Graham is Chief Executive Officer, Robert P. Mulligan is President, and Robert E. Shea is Chief Operating Officer of Mirae Asset Global Investments (USA) LLC ("Mirae Asset USA"), the South Korean-based firm's U.S. subsidiary. Mirae Asset USA manages over $4.6 billion in equity and fixed income assets. Graham and Mulligan assume the positions previously held by Joon Kwun, who is relocating to Seoul to assume a senior management position leading the firm's business development initiatives across Asia.
"We are delighted to announce these key strategic appointments to our U.S. and Asian businesses," said Taeyong Lee, President of the Global Business Unit of MAGI. "With the track record of success these professionals have demonstrated in developing our U.S. business, we're confident that our momentum will continue to bring Mirae Asset's emerging market investment expertise to investors in the U.S. and abroad."
The three U.S. appointments come as Mirae Asset USA further expands its capability for delivering emerging market equity and fixed income strategies to financial intermediaries and institutional investors in the U.S. Mirae Asset USA's mutual fund product line-up consists of a suite of six funds under the Mirae Asset Discovery Funds banner. The firm's original series of emerging market equity funds was launched in September 2010 and is approaching its three-year anniversary. These funds were followed by a global equity and a global bond fund, each emerging-market oriented, in early 2012. MAGI manages over $58 billion globally with these six funds being the first registered products offered to U.S. investors. They are now carried on most major fund platforms, including advisor platforms such as Morgan Stanley, UBS, Raymond James and LPL Financial, and RIA platforms such as Fidelity, Schwab, Pershing and TD Ameritrade, among others.
In addition to his new position as Chief Executive Officer of Mirae Asset USA, Graham retains his role as President of the Mirae Asset Discovery Funds and continues as Head of Marketing and Product Development. First recruited to MAGI's U.S. business in 2009, he spearheaded the firm's entry into the U.S. mutual fund market and built out its U.S. product line and marketing initiatives.
In addition to his new position as President of Mirae Asset USA, Mulligan retains his role as Head of Sales and Distribution, leading the firm's U.S. retail and institutional efforts. He was recruited by Mirae Asset USA in 2010 as Head of Strategic Relationships to develop the firm's retail distribution network. He was named Head of Retail Sales and Distribution in early 2012 and assumed the role of Head of Sales and Distribution later last year.
As part of these executive changes, Shea takes on the role of Chief Operating Officer of Mirae Asset USA. He joined Mirae Asset USA in 2009 as Head of Finance and Operations, with responsibilities overseeing the firm's U.S. office and business infrastructures.
Mirae Asset USA's investment team has 11 equity and fixed income professionals and is supported by MAGI professionals throughout the firm's global network. José G. Morales remains Chief Investment Officer of Mirae Asset USA.
About Mirae Asset Global Investments
Mirae Asset Global Investments is one of the world's largest investment managers in emerging market equities (Investments & Pensions Europe, January 2013). With approximately 550 employees, including 137 dedicated investment professionals, Mirae Asset offers a breadth of emerging markets expertise. Mirae Asset's offices are located in Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Korea, Taiwan, the U.K., the United States and Vietnam. Headquartered in Seoul, South Korea, the firm manages over $58 billion in assets globally through a diversified platform to offer market-leading franchises in traditional equity and fixed income products, ETFs and alternative strategies, such as real estate, private equity and hedge funds. Mirae Asset Global Investments (USA) is focused on providing equity and fixed income investment advisory services to mutual funds, foreign investment trusts, and institutions. (www.miraeasset.com)
The Mirae Asset Global Investments (USA) LLC logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11543 ?
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