People Moves
Summary Of Wealth Management Executive Moves In Asia, August 2013

Jeffrey Yap, the former head of Asian fixed-income trading at Mizuho Financial Group, expressed plans to start his own credit-focused hedge fund in Hong Kong. Yap is to be joined at Ark One, the new firm, by two other yet-to-be-named founding partners. The fund was opened in mid-August.
The Australian Financial Services Council named Greg Cooper as its new chairman, taking over from Peter Maher, who retired in 31 July. Cooper was previously the CEO of Schroders Australia and has been director of the FSC since 2008. Maher leaves after serving as chairman for three years.
Legal & General Investment Management named Horace Hung as senior credit analyst for emerging markets. Hung joined from Manulife Asset Management (Asia), where he was senior director of credit. LGIM opened its Asia-Pacific headquarters in Hong Kong in July 2013.
Singaporean sovereign wealth fund Temasek added former World Bank chief Robert Zoellick to its board of directors as it prepares to open its first office in the US. The decision comes as the firm seeks to increase its investments outside of Asia.
Swiss banking giant UBS named Gan Seow Ann as vice chairman of UBS Wealth Management South East Asia and Asia-Pacific, based in Singapore. Gan was president of Singapore Exchange and now reports to Singapore country head Edmund Koh and CEO of the wealth arm's SE Asia and Asia-Pac business.
BNP Paribas expanded its offshore wealth management franchise in India with a new senior appointment. Ravinder Singh rejoined the firm as senior director in early August after serving as director and head of North India at Barclays Wealth. In his new role, he reports to Samir Bimal, global head of India onshore business and managing director and CEO of BNP Paribas Investment India.
Patrick Donze, head of the investment office, North Asia, at Julius Baer in Hong Kong, resigned so that he can move to Singapore. His future plans are unclear.
Peter England, head of retail financial services at CIMB Malaysia, left the bank to take up a senior role for another yet-to-be-named bank in Dubai. Details are unclear as of this writing.
Global asset manager Russell Investments reshuffled its global and Australian senior executive ranks. Jeff Hussey was named global chief investment officer after Pete Gunning, the CIO since 2008, who is moving back to Australia to lead the Asia-Pacific operations. Gunning succeeded Alan Schoenheimer, who transitions from being the Asia-Pac CEO to a non-executive advisory role. Gerard Fitzpatrick, currently the senior fixed income portfolio manager, takes over from Hussey as CIO for global fixed income. All these take effect 1 October 2013.
Sun Life Hong Kong and Sun Life Financial Asia announced the appointment of Wim Hekstra as chief executive in Hong Kong. He succeeds Roger Steel, who had been named president of new markets and business development for Sun Life Financial Asia.
Manulife Financial, the Canadian asset manager, bolstered its Greater China franchise with the appointment of Michael Huddart as executive vice president and general manager. He will oversee the firm's operations in Hong Kong, Mainland China and Taiwan. He also becomes chairman of Manulife-Sinochem Life Insurance and vice chairman of Manulife TEDA Fund Management in Mainland China. He also assumes responsibility for the firm's Taiwan asset management business, while continuing to be CEO of Manulife (International) and CEO of Manulife Asset Management in Hong Kong.
Northern Trust strengthened its technology and consulting business in Asia-Pacific with the hire of Andrew Tan as head of investment risk and analytical services for the Asia-Pacific region. Tan previously served as head of the risk and performance consulting practice at RBC Investor Services. He is based in Singapore.
Ligia Torres, head of wealth management in the UK for BNP Paribas, was appointed to head of APAC and emerging markets for BNP Paribas Investment Partners, a newly-created role. She continues to be the UK head of investment solutions. As part of the change, Jean-Louis Tourne was named UK head of wealth management.
The Monetary Authority of Singapore announced a series of changes to its senior management lineup. Teo Swee Lian stepped down from the role as deputy managing director for financial supervision to become the special advisor in the managing director's office. Teo is succeeded by Ong Chong Tee, who relinquished his roles as deputy managing director for monetary policy and investment and deputy managing director for financial development. Jacqueline Loh assumes Ong's old post, as well as become deputy managing director for development and international. Dr Andrew Khoo was named deputy managing director for corporate development. Foo-yap Siew Hong left her post as assistant managing director to become assistant managing director for special projects in the managing director's office. Foo was replaced by Ng Nam Sin, who relinquished his role as assistant managing director fo development.
Royal Bank of Scotland strengthened its South East Asian international banking business with the appointment of Brijesh Mehra, current head of international banking for India. Mehra expands his role to include SE Asian countries like Indonesia, Malaysia and Thailand. He remains based in Mumbai. In addition, Charly Madan was named head of capital and portfolio management in Asia-Pacific. Madan has been with the company since December 2012. Both report to Madan Menon, co-head of markets and international banking in Asia-Pacific.
Former Royal Bank of Canada associate John Kay Jin Khoo was sentenced to 23 months in jail by the Sydney District Court after pleading guilty to revealing insider information. He was sentenced in April 2013 and is to be released in his recognisance in the sum of $454 to be of good behaviour for the remaining nine months.
Deutsche Bank appointed James McMurdo as its new chief executive for Australia and New Zealand after John Macfarlane announced that he is retiring in early 2014. Macfarlane leaves after 25 years at the bank. McMurdo steps in officially in February 2014 and reports to Gunit Chadha and Alan Cloete, co-chief executives for Asia-Pacific and members of the group executive committee.
BlackRock named Kevin Hardy as country head for Singapore. Hardy added to his role as head of beta strategies for Asia-Pacific and with the appointment is now responsible for overseeing all of BlackRock's Singapore and South East Asia business interests. He takes over from Alastair Riach, who remained as head of the institutional client business for Singapore and South East Asia.
AMP Financial Services appointed Patricia Montague as head of the superannuation and retirement products division. Montague moved from Commonwealth Bank of Australia, where she was the general manager of the retail customers and transformation unit. She replaced Chris Jansen, who moved to a new role within the company's compliance project team.
Banque Internationale a Luxembourg's Singapore branch named Reto Isenring as chief executive. He takes up his new post on 15 October 2013 and replaces Han Yeah Le. He was previously the CEO of VP Bank (Singapore).
BNY Mellon strengthened its Asia-Pacific team with the appointment of Richard Collis as managing director for investment management, reporting to Jane Caire, head of strategy and corporate development for the Asia-Pacific business. Prior to this, he was head of the bancassurance business at MetLife in Asia-Pacific. He assumes is a newly-created position.
Barclays continued to expand its reach in the North Asia private banking arena by naming Connie Chung as vice president and relationship manager. Cheung previously worked as an associate vice president at Swiss private bank EFG. She reports to Rickie Chan, market head for Hong Kong.
Lee Quo-Wei, the former chairman of Hong Kong-based Hang Seng Bank, passed away in 10 August at the age of 95. Dr Lee has been with the bank since 1946. The company credits Dr Lee for his instrumental role in turning Hang Seng into one of the largest lenders in Hong Kong and helping prevent a bank run in 1965 by injecting capital from HSBC. He was also part of the team that built the Hang Seng Index.
Henderson Global Investors, the London-based asset manager, named Wong Hur Ming as head of retail sales in Singapore. Ming joined the firm from Deutsche Asset Management, where he served as deputy head of intermediary sales for the South East Asia mutual funds distribution unit. He replaced Dennis Ng, who has left the firm, and now reports to Mabel Chan, head of wholesale distribution in Asia.
Jonathan Jin Yi Ang, a former analyst with Lincoln Crowne & Company, was given a two-year good behaviour bond by the Australian Securities Exchange Commission after pleading guilty to insider trading. Ang admitted to using inside information on the acquisition of Norton Gold Fields by Zijin Mining in April 2012.
ANZ appointed Andrew Geczy, a former senior executive at Lloyds Banking Group, as chief executive for international and institutional banking, reporting to ANZ CEO Mike Smith. Geczy starts 16 September and will be based in Melbourne.
US-based international law firm Orrick, Herrington & Sutcliffe expanded its Asian merger and acquisition and private equity practice by hiring Edward Johnson as its new partner in Tokyo. Johnson moved from Paul Hastings, where he served as managing director for the Tokyo branch.
Japanese bank Nomura Holdings hired two senior executives from Bank of America Merrill Lynch to strengthen its Asian equities business. Stanley Wong is now head of North Asia equity distribution, while Ajay Gupta is head of client trading for Asia ex-Japan for the equity derivatives arm. Both are Hong Kong-based. Wong was previously the head of Greater china equity distribution at BoA Merrill Lynch. Gupta used to be the head of equity-linked trading for the Pacific Rim division at BoA.
Bank J Safra Sarasin appointed industry veteran Jeffrey Benjamin as managing director, client advisory in Singapore. Benjamin was the managing director and team head of international private wealth at HSBC Private Bank (Suisse) in Singapore. In this new role, he reports to Eric Morin, CEO of the Singapore and South East Asia business.
Melinda Howes, departing CEO of the Actuaries Institute in Australia, is set to take a position with AMP's wealth management business. Her title and responsibilities have not yet been revealed, but will likely encompass strategy and business operations. Howes resigned from her old job and officially leaves on 1 November. She takes her place at AMP at the end of the said month.
US global markets and financial advisory firm StormHarbour strengthened its Asia-Pacific presence with a series of senior appointments for Singapore. Sandeep Gill and Barry Dick, former co-founders of OPVS Group, joined as principal and managing director. Both will be responsible for structuring activities across the region. Also now part of the team are Martin Otway and Nicholas Loh, both also from OPVS, as directors.
ABN AMRO Private Banking bolstered its commitment to grow in North Asia with new senior hires. The firm appointed Angela Wu as managing director and market head for China. She is accompanied by Mike Sum and Angela Yuen, both senior private bankers, and Shirley Ho, assistant private banker. Wu joined from China International Capital Corporation. Based in Hong Kong, she now reports to Ian Pollock, head of private banking for North Asia.
Global investment manager BNY Mellon appointed Eugene Bang as head of the Korean investment management arm, based in Seoul. Bang stepped in from Deutsche Asset Management Korea, where he was a director and country manager of the mutual funds business. In this role, he will be responsible for the local investment management operation, including consulting and liaising with regulatory and industry participants, conducting market research and assessing opportunities in the Korean market.
BGC Partners named Peter Pao as the new director for the Greater China operations. Pao used to be the chairman of Greater China at Tullett Prebon and general manager of TP Sitico. Based in Hong Kong, he reports to Len Harvey, executive managing director and general manager for Asia-Pacific.
Deutsche Asset and Wealth Management appointed Sean Taylor, a former Pioneer Investments executive, as head of emerging market equities. Taylor joins from the company's London office and will oversee emerging markets equity strategies, products and investment teams globally. He reports to Randy Brown and Asoka Woehrmann, co-chief investment officers at DeAWM.
RBC Global Asset Management named Mayur Nallamala as senior portfolio manager and head of Asian equities, based in Hong Kong. Nallamala is now responsible for managing RBC GAM's $1.5 billion in Asian equity sales, while leading a team of portfolio managers and analysts in Hong Kong. Prior to RBS, he spent eight years at JP Morgan Asset Management in Hong Kong.
CIMB Group strengthened its asset management arm with the appointments of Munirah Khairuddin as CEO of CIMB-Principal Asset Management Malaysia and Pedro Esteban Borda as CEO for the ASEAN region. Khairuddin most recently served as deputy CEO. Borda was previously the country head of Principal Financial Group Mexico.
Oversea-Chinese Banking Corporation, the Singaporean bank, hired Tan Kee Phong as the new head of its debt capital markets and loan syndication team. Tan was previously the head of capital markets in Singapore at Standard Chartered Bank. He replaced Sim Buck Khim and Mark Yeo and now reports to Gan Kok Kim, the head of group investment banking. Khim now heads the debt capital markets team, while Yeo heads the loan syndication unit.
Nikko Asset Management created a new marketing leadership role and named David Collins to the position. Collins is now head of group marketing and communications, joining from The Hartford Financial Services Group, where he was head of external corporate communications.
Hang Seng Bank announced senior appointments in China. Dorothy Sit was re-designated as executive director as at 22 August. On the same date, she became head of the China business. With the change, Sit ceased to be the chief executive of Hang Seng China, but retained her position as vice-chairman. Also newly installed was Gordon Lam as CEO for China. Lam became head of business development, corporate and commercial banking in January 2012 and was appointed deputy CEO in March 2012.
Former Sydney financial advisor Pavan Vyas pleaded guilty to two charges of dishonesty after he was found have been "tombstoning." The Downing Centre Local Court found that Vyas earned for himself some $218,000 in commissions when he was a representative of financial advisory firms Lionsgate Financial and HNW Planning from June 2012 to March 2013. The Australian Securities and Investment Commission banned him for life from the financial services industry.
International accountancy and advisory firm Moore Stephens strengthened its Queensland wealth management business with the hire of Bob Blurton as general manager of Moore Stephens Wealth. Blurton is based in Brisbane and will be working closely the heads of each of the six offices the company has in Queensland. Moore Stephens Wealth records some $712 million in client funds.
Oaktree Capital Management named Ken Park into the newly-created position as vice president of marketing and client relations, based in Hong Kong, as part of efforts to build its Korean operations. Park moved from Robeco Institutional Asset Management in Seoul, where he was the chief representative of the Korean office.
Rothschild appointed former UBS veteran Alois Muller as managing director and head of the wealth management business in North Asia, based in Hong Kong. He took on his new position in 2 September. Muller has worked for UBS for 35 years, most recently as head of ultra high net worth for several Asian countries.
Zabin Dabu was appointed by Coutts as executive director in Asia. Dabu, who was previously the head of Thailand and former head at the bank for its Indian markets group, is based in Singapore and now reports to Ranjit Khanna, head of South East Asia at Coutts. This is a newly-created role.
Swiss private banking firm Lombard Odier made two senior appointments to its Asia-Pacific team. Fred Horsey joined as co-chief operating officer and general counsel, while Christophe Morel relocated from Geneva to become with chief risk officer for the Asia-Pacific team on 1 September. The two are based in Hong Kong, reporting to Vincent Duhamel, head of Lombard Odier Asia-Pacific. Both are newly-created roles.
The Abu Dhabi Investment Authority named Suresh Sadavisan as its new internal equities head for Asia ex-Japan. Sadavisan was previously the head of Asia-Pacific equities of Legal & General Investment Management. Based in Abu Dhabi, he reports to Mohamed Darwish Al Khoori, executive director of the internal equities division.