EUROPE - Korea-based Mirae Asset Global Investments today announced it is planning to open its first European office following the appointment of two executives in London.

Mirae, one of Asia's largest asset management companies, has appointed Hendrik Cosijn von Ripperda from the hedge fund KI Asset Management as head of European (ex-UK) distribution while Andrew Lawley, previously of Credit Suisse, has been named as head of UK distribution and global consultant relationships.

According to the company, Von Ripperda and Lawley will "play a vital role in the development of Miare Asset's European business".

Mirae added the move was also in preparation for the launch of a range of SICAV funds later this year.

Chunyong Rhie, chief executive of Mirae Asset Global Investments UK, said: "The arrival of Mirae Asset in London underscores our determination to develop our business internationally and continue to deliver innovative emerging market investment solutions for clients around the world."

He added the UK is a natural base from which to launch its European activities.

Mirae Asset Financial Services - the firm's parent group - recorded $128bn (€82bn) of assets under management as of March 2008.

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