Fidelity hires ING, Prudential execs in Asia push

HONG KONG, May 22 (Reuters) - Mutual fund giant Fidelity International said on Thursday it had hired senior executives from rivals ING Groep NV (ING.AS: Quote, Profile, Research)(ING.N: Quote, Profile, Research) and Prudential Plc (PRU.L: Quote, Profile, Research) as part of a broader push to win more business in high-growth Asia.

The international affiliate of Boston-based Fidelity Investments said the new hires were part of its plan to win more business with large institutional investors and boost its presence in Asian markets where it does not currently operate.

The appointments include Long Zhan as head of China, who will focus on identifying and pursuing new business for Fidelity in the world's most populous country.

"China is poised to become the world's third largest pension fund market within the next 20 years so it's one of the region's most rapidly expanding markets and an important source of growth for most leading asset management businesses," Chris Ryan, Fidelity's managing director for Asia ex-Japan, said in a statement.

"By appointing Long Zhan, we now have a dedicated executive to lead these efforts, identify and capture new opportunities, and complement the experience and network of our already strong team."

Zhan was most recently country manager for China with ING Investment Management. Ryan was head of ING's Asia Pacific fund arm until moving to Fidelity earlier this year.

Ryan, a former HSBC and Deutsche Asset Management executive, said in the statement he also planned to hire a new head of institutional business for Fidelity shortly.

"We plan to enhance our range of investment solutions for this group in the next quarter," he said in a statement.

"The regulatory environments in market places such as Thailand, Indonesia and the Philippines have also matured considerably and many of their institutional prospects are now global players, so we will start to pursue mandates in those markets more actively." (Reporting by Jeffrey Hodgson; Editing by Anne Marie Roantree)