AIB'S fund management arm has moved to build up its coverage of Asian equities with the appointment of three new investment specialists in Singapore.

AIB Govett (Asia) is expected to use the expansion of its investment team as a basis on which to win new business in the region among retail and institutional investors. Last year, the Singapore company managed assets worth about €800 million.

Ms Chiharu Shima has joined Govett as fund manager from DBS Asset Management in Singapore. She has 14 years' experience in the Japanese market. Mr Raymond Wong, an existing AIB employee, has been appointed Japan analyst.

Mr Tan Eng Teck, meanwhile, has joined Govett from First State Investments to cover the China, Taiwan and Korea markets.

AIB last year shifted the management of $400 million (€410.7 million) in Japanese assets from Dublin to Singapore. (Additional reporting by Reuters)