Fidelity appoints Warburg China joint venture head to lead fund unit

HONG KONG : British investment manager Fidelity International said on Wednesday it had hired the former head of a Warburg Pincus joint venture in China to lead its new fund management unit in the world's second-largest economy.

Helen Huang, most recently the chief executive officer of Hwabao WP Fund Management, 49 per cent owned by U.S.-based private equity major Warburg Pincus, has been appointed as Fidelity International's managing director in China, the fund manager said in a statement.

Fidelity International got preliminary approval from Chinese regulators last August to establish a wholly foreign-owned fund management company in China, as a handful of global asset managers make a foray into the local market via such set up.