Stella Lau joins the Singapore wealth firm, while Charlene Lin has been promoted, as assets under management grow quickly, including in India, the Middle East and Singapore.
This new cluster, to be led by Marc Luet, includes the bank's markets in Australia, China, Hong Kong, Japan, Macau, New Zealand, South Korea and Taiwan.
Luet, currently head of Citi's Japan Cluster, will oversee Australia, China, Hong Kong, Korea, New Zealand and Taiwan, with Ng retiring after 26 years with the bank on April 5.
Western Asset remains loyal to selective emerging Asia bonds despite recent outflows, with a bias towards North Asia credits, while avoiding frontier markets such as Mongolia.