Duet Asset Management, a UK-based investment manager has launched subsidiaries in Dubai and Singapore as well as hiring 12 employees, eight from Merrill Lynch, according to Reuters.

Duet runs $1.9 billion of private equity, hedge and long-only funds. The new subsidiaries, Duet MENA in Dubai and Duet Asia in Singapore, will focus mainly on sales.

Hedi Ben Mlouka has been appointed chief executive officer of Duet MENA and Amit Shah as director, both moving over from Merrill Lynch, while Yazid Ben Salem joined as an associate, according to Reuters.

In Singapore, Shinji Yoshikawa, chief executive officer, and senior investment analyst Kosuke Kondo also join from Merrill.