Yuanta Securities Investment Trust Co (元大投信), a subsidiary of Yuanta Financial Holding Co (元大金控), said yesterday it aims to become the top asset manager in Greater China and the Asia-Pacific region after it integrated Polaris International Securities Investment Trust Co (寶來投信) on Sunday.
Yuanta Securities Investment is to retain its English name after the integration that increased its assets under management to NT$320 billion (US$10.94 billion), the largest among its domestic peers, and its market share to 15 percent, the company said.
“The integration will provide the company with more professional staff and the resources to expand in China and the rest of the region,” president Liu Tsung-sheng (劉宗聖) said in a statement.
The new entity would take advantage of synergy benefits to grow its economies of scale further and strengthen its product lines and services by innovating, said Liu, who was previously president of Polaris International Securities Investment.
Yuanta Securities Investment chairman Kao Kang-sheng (高抗勝) will remain at the helm of the company, while Francis Tu (杜純琛) has been promoted to vice chairman, the company said.
Kao, who graduated from National Chung Hsing University, has previously served as a consultant to the Ministry of Finance, as chairman of Taiwan Depository and Clearing Corp and the Taiwan Futures Exchange, as chairman of Fuhwa Bank (復華銀) and Fuhwa Securities Co (復華證), as vice chairman of Yuanta Securities Co (元大證) and as chairman of Yuanta Futures Co (元大期貨).