People Moves

Summary Of Executive Moves In Asia-Pacific Wealth Management - January 2013

14 February 2013

Summary Of Executive Moves In Asia-Pacific Wealth Management - January 2013

Asia-Pacific

Greencape Capital, the Australian boutique equity specialist, bolstered its investment team with the appointment of Jonathan Koh. Koh joined the firm from BlackRock, where he served as vice president and equity analyst for the fundamental Asian equity division. 

AMP Financial Services, the Australian investment firm, appointed a new director for its wealth advisory business. Paul Robertson took on the role of managing director at Genesys Wealth Advisors, a licensee of AMP's Financial Advise Network. He replaced John Saint, who has left the firm.

Macquarie Group, the Australian financial services firm, named a new head for its wealth management business in Perth. Justin Mannolini is now the executive director of Macquarie Capital, the wealth management and real estate services division of Macquarie Group. 

Australia and New Zealand Bank named a new head for the advisory arm of its wealth management business.  Darren Whereat took on the role of chief executive of RI Advice Group, a division of ANZ's wealth protection arm OnePath.

Credit Suisse named a new chief executive for Australia, coming shortly after announcing another top-level appointment in the Asia-Pacific region. Effective as of this month, Rob Stewart assumed the top role in the country in addition to his existing responsibilities as co-head of the investment banking department.

Acadian Asset Management Australia, the joint venture between Boston-based Acadian Asset Management and Colonial First State Investments, appointed a financial services veteran to the newly-created role of investment head. David Walsh brings over 24 years of industry experience to the role, 15 of which involved senior Australian equity quantitative capacities. 

Fidelity Worldwide Investment, the US-based asset management firm, strengthened its operational capacity in Australia – Eric Wang joined the firm as chief operating officer after serving as managing director at wealth management consultancy Sunstone Partners. 

Perpetual Private, the wealth advisory business of Perpetual Limited, bolstered its philanthropy division with a new manager. Caitriona Fay took up the role of philanthropic services manager after serving as senior program manager at The Ian Potter Foundation. 

Natixis Global Asset Management, the France and US-headquartered asset manager, strengthened its Singapore office with a senior appointment. Madeline Ho joined the firm as head of wholesale distribution for Asia-Pacific and managing director of NGAM Singapore.

Eastspring Investments, the Asian asset management business of UK-based Prudential Financial, appointed a new chief executive for Japan. Koji Wada officially assumes his role on 25 January, following the resignation of Felix Pang.

Old Mutual Asset Management, the US-based asset management arm of UK's Old Mutual, strengthened its Asian business efforts with the appointment of a new head of the institutional advisory unit. Based in Hong Kong, Miranda Poon represents the company's affiliates in Asia ex-Japan, responsible for marketing its products and services, as well as its affiliates' through a joint effort with OMAM's sister company Skandia Global Funds (Asia-Pacific). 

Credit Agricole, , which uses the name Crédit Agricole Private Banking in Asia, unveiled a series of leadership changes in the region. Roland Feser, chief executive of Crédit Agricole Suisse, Singapore branch, will retire in March after a 38-year career with the Crédit Agricole group. His successor is Sen Sui, currently the Hong Kong-based head of markets and investment solutions in Asia. Sui will start to transition to Singapore this month.Sui's role will be taken over by current head of foreign exchange and precious metals advisory for Asia, Victor Choi.

BNY Mellon, the global investment management and investment services firm, named Eric Fu as a managing director within the firm’s intermediary distribution team. The move is part of efforts to widen and deepen the US bank's Asia-Pacific footprint. 

ABN AMRO Private Banking strengthened its service offering for high net worth individuals in Asia and the Middle East, recruiting 11 new specialist staff members in Singapore and Hong Kong. The hires include a seven-strong team from ANZ Bank in Singapore, which is focusing on servicing ABN AMRO Private Banking’s international clients segment.

JP Morgan Asset Management named a new marketing head for Asia-Pacific. Heidi Sutton assumed the based in Hong Kong.

Lazard, the US-based financial advisory and asset management firm, named a new senior advisor for the Asia-Pacific region. Jesse Bhattal was previously president and chief executive of Nomura's global wholesale division, and chairman and CEO of Lehman Brothers Asia. 

Asia Pacific chairman of BlackRock, the investment, risk management and advisory services firm, was appointed by the chief executive of Hong Kong to become a non-official member of the newly launched Financial Services Development Council.

BlackRock, the US-based investment management firm, appointed a new chairman for its China business. Hsueh Wang stepped in from Goldman Sachs, where she was an advisory director and chairman of Goldman Sachs Asset Management.

Credit Suisse appointed Neil Harvey as chief executive for Hong Kong and co-CEO for Greater China, a newly created role. Harvey shares responsibilities as co-CEO, Greater China with Liping Zhang, who maintains his position as vice chairman, global investment banking department.

Pictet & Cie, the Swiss private bank, strengthened its Greater China fund team with two senior appointments. Pauline Dan is now head of the Greater China fund unit, while David Chen assumes the role of senior investment manager.

Japan financial services giant Mizuho Financial announced a new management structure that includes the transfer of control of an entire division. Mizuho Securities became a directly-held unit of the firm, as part of an effort to bring all the company's businesses under one umbrella. The bank did not specify any change in positions.

Singapore hedge fund APS Asset Management named Raymond Lim, a former Cabinet minister, as its new chairman. Lim assumed the top role at the firm after serving as senior advisor and independent director since January 2012. He took over from Wong Kok Hoi, who continues on his other duties as founder and chief investment officer.
 
Cadwalader, Wickersham & Taft, the international law firm, added Rose Zhu as partner to its China office. Zhu joined from K&L Gates where she specialised in capital markets, mergers and acquisitions and bank financing transactions. She is based in Beijing.
 
Government of Singapore-owned sovereign wealth fund GIC announced the retirement of its group chief investment oficer Ng Kok Song, who leaves after 42 years with the firm. He was succeeded by Lim Chow Kiat, who was then deputy CFO. Lim joined GIC in 1993.
 
Richmond Fiduciary Group, the Guernsey-headquartered investment firm, named Jing Zhang as head of the newly-established representative office in Jing'an District, Shanghai, China. Zhang previously worked for Iveco, an Italian commercial vehicle firm under the Fiat Industrial Group. 
 
Hong Kong Exchanges and Clearing's chief financial officer Stephen Jeffrey Marzo resigned from his post in 13 January and passed the responsibility to then deputy CFO Vincent Kwong Yau Shing on an acting basis. The HKEx said that Marzo left in good terms with the company and that a selection committee would be created to identify his replacement.
 
Citigroup's private banking arm confirmed the departure of chief investment officer Richard Cookson, as part of cost cuts and a series of changes to senior management roles. In a report by Bloomberg, the bank said there was "no longer a need for a single individual to formulate the firm's investment strategy and asset allocation." Included in the transition is the change in Brad Hu's role from head of risk for the Asia-Pacific region to chief risk officer, reporting to Brian Leach, who was named head of franchise risk and strategy. Changes were also announced in other regions.
 
Manulife Asset Management hired Andrew John O as senior portfolio manager focused on Korean equities. Based in Hong Kong, he now works closely with the Hong Kong-based equity team and other teams across Asia, while reporting to Ronald CC Chan, the head of equities for Asia. 
 
Blackstone, the alernative investment manager, named Gautam Banerjee as chairman of Blackstone Singapore, a newly-created position. Banerjee joined from PricewaterhouseCoopers Singapore, where he worked for 30 years. At Blackstone, he also joins the international advisory board. 
 
BNY Mellon, the US asset management firm, appointed Rosemarie Kriesel as country executive and general manager for Hong Kong. Kriesel brings over 25 year of industry experience to the role. She previously served as head of global client management for Hong Kong, which she will continue to hold while reporting to Eleni Wang, the head of global client management for Asia-Pacific. With her new role, she also now reports to Steve Lackey, chairman for Asia-Pacific. 
 
AMP Capital hired portfolio management specialists for its alternatives arm in Australia. Dr Alistair Rew stepped in as senior portfolio manager, while Celine Nguyen became portfolio manager. Rew brings over eight years of investment management experience, having worked in New York, London and Sydney, while Nguyen has over six years' experience as a research analyst at EIM Management in the US.
 
Bank of Singapore appointed 11 veteran bankers to its Greater China team. The hires comprise seven bankers for the Hong Kong office and four in Singapore. Three of the 11 are team heads, namely Michael Chan, Nancy Jin and Joel Lim. Chan and Jin are Hong Kong-based, while Lim is based in Singapore. The other bankers include Denise Ma, Teresa Fung and Winnie Wong in Hong Kong, and Vanessa Bock and Charine Wong in Singapore. The appointmens bring the firm's total Greater China headcount to almost 100.
 
Westpac Banking Corporation added Ewen Crouch to its board of directors. Crouch joined in an independent non-executive position after serving as chairman of partners at Allens, an Australian law firm. He is known for his work in some of the most significant merger and acquisition transactions in Australia.
 
UK headquartered Standard Chartered named Erwin Sanft as the new head of equity research for its Hong Kong and China operations. Sanft joined from BNP Paribas, where he served as chief strategist for Asia equities. In his new role, he reports to Dave Murray, head of equity research and is based in Hong Kong.

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