Baring Asset Management (Asia) has sacked six professionals as part of an adjustment to diminished investment opportunities in the region.
Managing director Syd Bone confirmed that investment director Jung C Rhee, responsible for the South Korean market, and five research analysts had left the company.
The investment house employs about 70 people in Hong Kong, among them five investment directors and eight supporting analysts who cover 11 markets.
Mr Bone said last week's sackings reflected prospects in Asia as well as diminished assets under management.
'Frankly, there are not as many companies to look at, so we don't need as many analysts,' he said.
The Hong Kong office's assets under management have halved to about US$2 billion this year.
