Clayton Coplestone has resigned as head of Deutsche Asset Management (DeAM) in Hong Kong less than a year after assuming the position.

It is understood that Coplestone, who was also DeAM head of distribution for greater China, resigned last Friday and will be returning shortly to his native New Zealand. Coplestone only took up the DeAM role last June after leaving Credit Suisse Asset Management in Hong Kong where he had been head of business development since 2003. He is well-known in the Australian retail funds management industry after spending several years with Credit Suisse Asset Management in Sydney as head of retail sales. DeAM confirmed Coplestone’s departure and a company spokesperson said Michele Bang, managing director of Asia ex Japan, would assume his responsibilities in the interim.