Knights, who had been with FPI for more than 18 years, will be based in Hong Kong and report to ITA managing director Bob Pain.
Pain said Knights will build on ITA’s existing distribution in the region “with particular emphasis on developing distribution in the offshore expatriate market. He will also be assuming responsibility for the leadership of ITA’s Asia sales team”.
The original focus of ITA’s strategy in Asia was to sign up local IFAs but the appointment of Knights coincides with its move towards distribution through advisers who have expats as clients, Pain added.
The product, called Access Portfolio, is a lump sum open architecture portfolio bond with three different cost structures, including a five and eight year initial charge period, and a low minimum contribution of $/€ 75,000 (£50,000).
There are no establishment charges, or specific charges for currency exchange, asset transfers or for use of custodians.
Pain said the commission options will be “competitive” which allow for a mix of initial and trail remuneration as well as commission sacrifice.
Access Portfolio is aimed at emerging middle class clients in the emerging and frontier markets plus expatriates in these regions.
Knights has more than 25 years’ experience within the financial services industry, beginning his career at Eagle Star Insurance in the UK in 1988 and then moving to Provident Mutual Assurance.
In 1995 he joined Friends Provident International as a member of the sales team and over a period of 19 years held a number of sales and business development roles covering various international markets including regional sales director, North Asia and most recently general Manager of FPI’s Hong Kong business.
Knights said: “Joining as I do, when ITA is expanding their product offering further, I believe we have a terrific proposition to share with advisers in the region”.
Knights left FPI in March and a successor to him there is now being sought.
