Tony Lally has resigned as chief executive of Commonwealth Financial Services after a 10 year stint at the helm of the bank’s funds management arm.
Lally has signed up with Deutsche Asset Management’s (DAM) to head up the group’s retail push in the Asia Pacific region. He will initially be based out of Sydney before shifting to DAM’s Tokyo office later this year.
The newly created position will involve Lally overseeing teams of retail sales, marketing and operations staff based in Tokyo, Singapore and Sydney.
A Deutsche spokesperson says it already has a strong presence in the Asia Pacific region in the wholesale area and plans to leverage off that into retail, in line with global plans to expand its retail funds management base.
Deutsche has already a presence in retail in the Japanese market after purchasing the retail business of Bankers Trust in mid 1999.
Lally will report through to Asia Pacific regional chief executive Brian Scullin and global head of retail Udo Behrenwaldt.
