JPMorgan has appointed the chief executive of Chinese alternative asset manager CDH Investments as its new vice chair of Asia Pacific, marking the latest major hire by the U.S. bank as it seeks to expand its business in the region.

Alex To, who has over three decades of experience in banking and alternative asset management, will be based in Hong Kong and report to Sjoerd Leenart, chief executive of JPMorgan Asia Pacific, according to a memo seen by The Wall Street Journal.