State Street Global Advisors (SSGA), the asset management arm of State Street Corporation, has hired Alex Sun as managing director and head of China.

In this newly created role, Sun is responsible as head of the firm’s recently established wholly foreign owned enterprise (WFOE) in China.  Sun reports to June Wong, head of Asia ex Japan.

“China offers significant long-term growth potential for us,” said Wong. “With his on-the-ground expertise and relationships, Alex will utilize our investment management WFOE in Shanghai as a springboard to help State Street Global Advisors build out our long-term business plan in this very sizable and strategically important market.”

The WFOE allows SSGA to sell hedge funds and other investment products onshore without having to work with Chinese partners.

Sun joins SSGA from HSBC Jintrust, HSBC Global Asset Management’s China joint venture, where he was assistant general manager. He spent 12 years at HSBC Jintrust, working as head of institutional and wholesale business. Prior to that, he was head of e-commerce at Fortune SGAM Fund Management, Societe Generale Asset Management’s China joint venture.

SSGA has a dedicated alternatives team of more than 50 investment professionals that manages more than $14bn in assets across private equity, real estate and hedge funds.

State Street Global Advisors hires China head on AsiaHedge.