People Moves
Summary Of Executive Moves In Asia-Pacific Wealth Management - November 2013
Australia
Sydney investment manager Select Investment Partners announced
the appointment of Matt Olsen as head of research effective 12
November 2013. Olsen, previously the deputy chief investment
officer and head of manager research at van Eyk, had worked as a
senior investment analyst at Colonial First State, LFG Holdings
and Ausbil Dexia.
David Foster, chief executive of Suncorp Bank, left in 9 December
2013 after 10 years with the company, according to a statement
posted on the Australian Stock Exchange website. Foster was
replaced by John Nesbitt, the chief financial officer whose old
post was assumed by Steve Johnston, deputy CFO. Foster will stay
on in an advisory capacity during a transition period.
Standard Life Investments, the global asset manager, hired
Matthew Newham as an investment director for its Australian
business. Newham is now based in Sydney and is responsible for
developing Standard Life Investments’ wholesale business across
Australia and New Zealand. He joined from JANA Investment
Advisers, where he was responsible for business development,
marketing and communications functions for almost seven
years.
Sunsuper, the Australian superannuation fund, named Scott Hartley
as its new chief executive effective 28 January 2014. Sunsuper is
one of the country's largest super funds, recording A$25 billion
in funds under management and around a million members. Prior to
the appointment, Hartley was executive general manager for
corporate and institutional wealth at National Australia
Bank.
Colonial First State Global Asset Management appointed a senior
analyst for its Australian equities team. Wim Steemers, based in
Sydney, assumed the coverage of the large-cap financials sectors
and is an active contributor to stock selection in all Australian
equities. He took up his new role in 18 November 2013.
The SILC Group, the Australian boutique financial products firm,
added a new member to its advisory board. Ben Cohen brings
extensive board and senior executive experience in financial
services, covering mergers and acquisitions, corporate finance,
banking, IT and accounting and manufacturing. He also previously
served as director of finance and administration at Potter
Warburg, director at Elders Finance and group financial
controller at ICI Australia.
BetaShares, the Sydney-headquartered exchange traded funds
provider, strengthened its advisor business with the appointment
of Lyndall James to the newly-created role of director of advisor
services. James brings over two decades of financial services
experience to the firm, having worked senior distribution roles
at van Eyk, OnePath and MLC.
The Actuaries Institute, the professional body for actuaries in
Australia, named David Bell as its new chief executive effective
January 2014 to succeed Melinda Howes who left in early November
after four years in the role. Bell brings over 20 years of
experience in management and public advocacy with organisations
including the Australian Bankers' Association, Telstra, NRMA and
Westpac.
China
Cushman & Wakefield, the privately-held commercial real estate
services company, appointed Jonathan Davis as managing director,
Eastern China. He is now based in the firm’s Shanghai office,
concentrating on the business in the city and eastern China.
Davis is a UK native with a 12-year track record in the Greater
China real estate industry.
Hong Kong
China Private Equity Investments, the Hong Kong-based private
equity investment holding group, named Conor MacNamara to a
non-executive directorial seat on its board. MacNamara brings
considerable experience to the role, having spent most of his
career in the Japanese and Asian markets, holding senior roles at
ABN AMRO / RBS Global Banking, Gen Re Securities and RBC Dominion
Securities.
Standard Chartered, the UK banking giant, enhanced its Renminbi
trading capabilities with the establishment of a new global RMB
trading team in financial markets. Led by Charles Feng, global
head of RMB trading and regional head of FX, rates and credit
trading in North East Asia, the team comprises traders across key
markets in Hong Kong, Shanghai, Taiwan, London and New York, with
additional support from teams in other locations.
Acuma, the UAE-based wealth management firm, announced plans to
open an office in Hong Kong by the end of November 2013. In a
statement, company owner Nigel Green said that the expansion into
Asia will initially focus on the Hong Kong office, but the firm
has "far-reaching strategic plans" that involve highly-regulated
areas in the Asia-Pacific region. The new branch is led by
director Simon Davies, who joined from Hong Kong-based Richmond
Asset Management, where he served as chief executive and
director, in addition to managing private clients.
The Nan Fung Group, the Hong Kong-based conglomerate with
interests in property markets and financial investments,
appointed Blackstone's Greater China chairman as its new group
chief executive. Antony Leung assumes his new post in February
2014.
Credit Suisse, the Swiss banking giant, announced the appointment
of Jason Yeung joined the firm as managing director and senior
client partner for Greater China. Based in Hong Kong, his focus
would be to enhance the bank's ultra-high net worth client
capabilities. He reports to Tee Fong Seng, vice chairman and
market area head of Greater China for the Asia-Pacific private
banking arm.
Manulife Asset Management strengthened its institutional business
network by adding a European sales capability and expanding its
Asia executive's role. James Chen, currently head of
institutional business and relationship management in Asia, took
on an expanded post as head of institutional business and
relationship management, international.
First Asia Holdings, the Hong Kong-based real estate developer
with a focus on mid and high-end property, appointed an industry
veteran to be its associate director. Dato Eddy Kok Seng Yeap
brings 15 years of financial services experience to the role and
had been part of the marketing team for General Eastern Life
Assurance, Prudential Assurance and Pacific Unit Trust.
Japan
Bank of America Merrill Lynch named a new head for its equities
trading division in Japan. In a memo seen by WealthBriefingAsia,
Eugene Iwami, head of Japanese equities trading, will have the
sole responsibility for the division, which previously had a
co-head structure. Iwami replaced Paddy Hogan, who moved to New
York to take care of the US arm of BoA Merrill's Japan business.
In addition, Hiroyuki Kaneda was named to the newly-created role
of vice chairman of Japan equities. Both Iwami and Kaneda report
to Olivier Thiriet, head of Asia-Pacific equities, and Jiro
Seguchi, country executive for Japan.
BNY Mellon opened a new capital markets business in Tokyo, which
falls under the The Bank of New York Mellon Securities Company
Japan. The unit is managed by a nine-member team of broker-dealer
and capital markets specialists led by Eiichiro Masaki as head of
Japan capital markets sales. Masaki, previously the head of
non-yen fixed income flow sales at Societe Generale, reports to
Kazuma Yamashita, head of Japan global markets sales.
Swiss private banking firm Lombard Odier appointed a former
senior Societe Generale private bank executive as a new managing
director for Japan. On 20 November 2013, Keiichi Hirano assumed
the role of managing director for Japan. The firm dubbed Hirano
as "one of the pioneers" of SocGen's private banking business in
the country. He has held various senior roles in Tokyo and
Singapore, where he was global head of Japanese private banking
clients and global head of real estate. He succeeds Norbert Joué
as president and representative director on 16 December, subject
to the board's decision on 13 December. Joué will move to a
broader regional role in Asia but will be working closely with
Hirano to ensure a smooth transition.
Singapore
Swiss-headquartered Vontobel appointed Fredy Flury as head of
financial products Singapore as at 1st December 2013, in addition
to being the new the CEO of Vontobel Financial Products (Asia
Pacific). Vontobel Financial Products has had a presence in
Singapore since 2012 handling market development in the
Asia/Pacific region.
The Monetary Authority of Singapore, the city-state's financial
regulatory body, awarded a capital markets licence to BNY Mellon
for its new fund management services subsidiary. The new unit is
led by Wendy Lim as chief executive. Lim was Lim was previously
the managing director and regional head of business development
and marketing for BNY Mellon Investment Management Asia-Pacific.
She reports to Alan Harden, CEO, and retains her regional
responsibilities.
Temasek Holdings, the Government of Singapore-owned investment
company owning stakes in banks such as DBS Group, Standard
Chartered and ICBC, named Cheng Wai Keung as its new deputy
chairman. Cheng, chairman and managing director of Wing Tai
Holdings, assumed his new role on the board in 4 November 2013
after serving as non-executive director since 15 September
2011.
Cushman & Wakefield appointed a new executive director for its
office in Singapore. Shaun Poh assumed the role of executive
director, heading up with the national capital markets and
investment team in the city-state. Poh left DTZ after 22 years,
most recently serving as head of the investment advisory services
team.
ING Investment Management International, part of
Netherlands-headquartered ING, appointed Marcin Adamczyk and Alia
Yousuf as senior portfolio managers for emerging market debt
local currency. With both reporting to Marcelo Assalin, lead
portfolio manager for emerging market debt local currencies based
in Atlanta, Adamczyk is now based in The Hague and Yousuf in
Singapore.