Stockbroking veteran Craig Mason has been hired to head troubled broking firm BBY Asia Pacific.

BBY, which controls more than $2 billion in funds, was placed in administration on May 18 but last week struck a sale deal with the AIMS Financial Group.

Mr Mason, who was inducted into the Stockbrokers Hall of Fame in 2014, was chairman of Pershing Australia until March and has previously worked at investment banks UBS and Merrill Lynch.

He said he planned to expand BBY's product offerings, which would have a reduced risk profile.

"The opportunity the BBY Asia Pacific platform presents to enhance and grow a business is what has attracted me to the CEO role," he said on Monday.

AIMS chairman George Wang said Mr Mason's respected industry standing and expertise in running high-quality broking services made him the ideal candidate to run BBY.