People Moves
WealthBriefingAsia Moves Roundup - September 2012
Here WealthBriefingAsia profiles the movers and shakers of the region’s wealth management industry during September 2012.
Nick Pollard, the CEO of Coutts in Asia, stepped down to be replaced by the firm's London chief of staff for wealth management, Michael Blake. Pollard moves into the newly-created role as head of international learning and development at the UK-headquartered private bank. He will continue to be based in Asia.
Blue Sky Alternative Investments, the Australian alternative fund management firm, bolstered its private equity unit with a new manager. Lachlan McMurdo takes the role of investment manager for the PE division, responsible for building the firm's existing portfolio.
SJ Berwin named George Pinkham as head of its Hong Kong office effective 1 October 2012. His focus will be on private equity, corporate and litigation/dispute resolution.
PineBridge Investments made four new appointments to its equity analyst teams in Hong Kong and Singapore. Kenneth Tang starts as director, portfolio manager, Asian equities, based in Singapore, from Black River Asset Management. Dennis Lam started as equity analyst, Hong Kong & China equities, based in Hong Kong. He has worked at Franklin Templeton, Schroders and Baron Asset Management. Kim-Peng Ang started as equity analyst, ASEAN equities, also based in Hong Kong from IMC Investment in Hong Kong. Jacob Lee and Samantha Kwong both started as equity analysts, based in Hong Kong. Lee joined from Deutsche Bank’s investment banking division where he was an associate. Kwong was at Kim Eng. Additionally Wilfred Son Keng Po, managing director and portfolio manager, who was previously based in the Philippines, relocated to Hong Kong to oversee ASEAN equities portfolio management.
ETF Securities is relocating Fred Jheon from the Tokyo branch, where he serves as Asia-Pacific head, to lead the new Hong Kong business. Nigel Phelan also moves from the Sydney office to become head of regional sales for ETFS.
Hong Kong’s Eden Management Partners hired Julio Benitez and Sarah Lewis to focus on planning and advisory services and tax planning, respectively.
Pictet hired Pauline Dan to lead a new 20-person global emerging markets equities unit. Dan joined the company from Samsung Investment Trust Management, where she was head of Greater China equities. Pictet did not reveal the names of the other newly appointed staff, although it said that some would be transferred from its Europe offices.
UBS India named Nitin Jain as a new head for its fixed income, currencies and commodities for India, reporting to Thomas Siegmund, the head of the Asia ex-Japan fixed income, currencies and commodities business at UBS.
L&T Mutual Fund named Soumendra Nath Lahiri as a new equity head.
Australia and New Zealand Bank hired a new managing director of wealth for Asia, from UK rival Barclays. Bret Packard will start in mid-October reporting to Joyce Phillips, ANZ’s global chief executive of wealth and private banking.
UBS hired a team of two from rival Credit Suisse. Cindy Chang joined as managing director, cluster head, based in Hong Kong. Stella Lau starts as executive director and is based in Singapore.
ABN AMRO is planning to as much as triple its Asian business within the next five years, with a focus on private banking. The group wants Asia to contribute 20 to 30 per cent of its global revenue within the next five years, up from 10 per cent now. The growth drive will focus on Hong Kong, Singapore, Shanghai, Tokyo and Sydney and will target private banking, among other sectors.
Coutts named Jonathan Lee as a new head of treasury services for Asia, based in Hong Kong.
Coutts hired a team of four for its Middle East business, to focus on wealthy non-resident Indians in the region. Rishi Mansukhani joined as executive director from HSBC’s private banking division. Mahesh Ram joined as a director from ABN Amro. Jai Prakash Paliwal joined as a director from ICICI Bank. Amit Tyagi joined as a vice president from HSBC’s private banking division. The UK bank said that the new quartet will precede plans to hire additional staff across the region this year.
Australia and New Zealand Bank made three senior appointments. Matthew Boss will starts as managing director, products & marketing, from Bank of America in North Carolina. Glenn Haslam started as appointed general manager of transformation, a newly created role to simplify the Australian business. He is currently acting managing director, product & marketing. Jeremy Dean was appointed general manager of Australia operations. He is currently general manager, business execution, for corporate and commercial Australia.
Northern Trust named former Citi exec George Hindmarsh as head of Asia-Pacific business development, to build business with the region's institutional clients, including asset managers and private banks.He joins from Citi Transaction Services, where he was most recently director, head of UK investor services product.
Chi Lo, the chief executive officer of HFT Investment Management
(HK), the Hong Kong branch of BNP Paribas' Chinese joint venture,
announced his resignation to pursue other opportunities. Lo
officially leaves on 31 October 2012. He has been with the
company since 2010 when he set up the Hong Kong operation. He
will be succeeded by Jelle Vervoorn as managing director.
Vervoorn joined HFT HK as executive director in August 2011.
Australian Unity Investments, the funds management arm of
Australian asset manager Australian Unity, added four senior
positions to bulk up its investment management offerings. Jody
Fitzgerald joined from UBS Wealth Management, where she was
previously the head of investment and product research, Guy
Sainsbury stepped in from Hastings Fund Management, where he used
to serve as director of property originations, while Paul Ramsay
was previously the head of researcher relationships at AUI. The
fourth appointment has not been announced to-date.
Global hedge fund group Alternative Investment Management
Association elected Philip Tye as the new chairman of its Hong
Kong arm. Tye is the founding partner and managing director of
Dragonback Capital, one of the member firms of AIMA. Also new to
the senior ranks are Anthony Byrne as deputy chairman and Michael
Gibson as treasurer. Byrne is the head of Asia-Pacific Prime
Finance and managing director at Deutsche Bank, while Gibson is a
partner at Lim Advisors.
QIC, the Australian investment management firm, hired former AMP
executive Brian Delaney to lead an entire division at its Sydney
office as business director of clients, products and marketing.
In this new role, he reports to Damien Frawley, chief executive.
He officially takes up his post on 15 October 2012.
HSBC announced nine senior appointments for the Asia-Pacific
equities and prime services divisions in support of its core
emerging markets buildout. Tim Franks, from Bank of China
International, was named head of hedge fund sales in Hong Kong,
Jeffrey Tan, from Nomura, was hired director in equity sales,
while Eric Ang and Russell Jacobsen, both from Samsung
Securities, joined as directors in equity sales trading in Hong
Kong. Also newly-appointed were Edward Yen, from Goldman Sachs,
as director of Taiwan equity sales based in Taipei and Jean-Paul
Linschoten as director of prime services sales, Hong Kong. David
Streatfield was named director in equity finance delta one sales,
Hong Kong, Adrian Harrison became director in prime services
sales, Hong Kong, and Ted Langworthy became director of equity
finance delta one sales, New York.
China Renaissance Securities, the Chinese bank, strengthened its
equities research offering with the hire of Wen Tianli (Eric) as
managing director and head of equity research based in Hong Kong.
He was also named head of telecom, media and technology equity
research. Prior to joining the firm, he was a director and head
of TMT equity research at Mirae Asset Securities, also in Hong
Kong.
BlackRock, the New York-headquartered investment management and
advisory services firm, bulked up its Asian business with the
hire of Rowena Kwok as director and head of corporate
communications for Asia ex-Japan. Kwok joined from Fidelity
Worldwide Investment, where she was part of the corporate
communications team in Hong Kong and the Asia ex-Japan region for
six years.
A team of at least five from Switzerland's Julius Baer who were
set to move to the Hong Kong division of Banca della Svizzera,
joined Lombard Odier instead, after BSI's parent was said to be
looking to sell the bank. They include Betty Xu, former senior
private client partner and team head for China at the Hong Kong
division of Julius Baer, and Amy Wei, senior private banker on
the China team. They brought with the three junior employees.
AMP Capital, the Australian fund management firm, expanded
international chief executive Anthony Fasso's job description
with leadership of the company's dominant Australian client base
in Hong Kong. The amended position was announced shortly after
the opening of the company's Hong Kong office.
State Street Global Advisors, the investment management division
of the US' State Street Corporation, named Amy Johnston as its
new vice president for wholesale sales based in Australia.
Johnston moved from Goldman Sachs Asset Management, where she
served as national accounts manager. Before that, she worked for
Perennial Investment Partners and Merrill Lynch Investment
Managers. She reports directly to Peter Mitchell, the head of
business development for Australia and New Zealand.
ANZ Wealth announced the departure of investment management
executive Simon Botherway after less than 18 months in the role.
Botherway joined the company in April 2011 after serving as
chairman of the Financial Markets Authority's establishment
board. The company said it is 'reviewing options' for Botherway's
old role. In the meantime, the investment management team is led
by Graham Ansell, head of fixed interest, and continues to report
to John Brody, managing director for ANZ Wealth.
US-based financial services firm Perella Weinberg Partners
announced Daniel Chen as the new managing director and head of
Asia. Chen is based in Beijing. Prior to this position, he was
senior vice president at China Investment Corporation’s Special
Investment Department.
Chase Corporate Advisory, the Australian financial services firm,
appointed Andrew Gale as the new executive director. Gale joined
the company from Count Financial where he served as managing
director. His appointment was announced alongside the hire of
Chris Jordan, former New South Wales chairman of KPMG, as
executive chairman.
BlackRock relocated its head of retail business for Asia ex-Japan
to Hong Kong, and promoted a head of retail sales, to form a new
team to tap private banking clients. Lin-Yun Chang, head of
BlackRock's retail business for Asia ex-Japan, moved to the US
investment manager's regional head office in Hong Kong, from
Taipei, underlining the increasing importance of the retail
segment to the firm. Heather Pelant relocated from the US to
start a different role as head of retail sales for Hong Kong,
Singapore and South East Asia. In this newly-created role, Pelant
is tasked to create and oversee a team focused on the private
bank client segment. She reports to Chang.
UTI Asset Management, the Indian mutual fund services firm,
appointed Sunil Mehta as the new chairman and director. Prior to
the announcement, local media reports said that Mckinsey and Co
India senior advisor Leo Puri could be tapped for the position.
Both parties declined to comment on the matter.
MLC, the wealth arm of National Australia Bank, named Scott
Harley to the newly-created role of executive general manager for
corporate and institutional wealth. Hartley was previously the
general manager for LC Corporate and Institutional Wealth and
managing director of Plum Financial Services since March 2009. He
became part of MLC in 1999 and has since held various roles in
the strategy and marketing and institutional businesses. He
reports directly to Steve Tucker, group executive of NAB
Wealth.
Emirates NBD hired Aazar Ali Khwaja, Barclay Bank's ex-regional
treasurer for emerging markets and Africa, as its new group
treasurer. In addition to his old role, Aazar also served as
chairman of Barclays Bank's regional asset and liability
management committee.
Mercer, the consultant, named Gaurav Garg to the newly-created
position of regional leader, growth markets, responsible for the
firm's businesses in Asia, Middle East, Africa and Latin America.
Garg joined the firm from Chartis, the P&C insurance arm of
American International Group, where he most recently served as
chief executive and managing director of Tata AIG General
Insurance Company in India. He reports to Julio Portalatin,
Mercer president and CEO.
CITIC Bank, the Chinese bank, announced Dr Chen Xiaoxian as its
new director and chairman. Xiaoxian replaced Dou Jianzhong, who
resigned to focus on his roles as executive director of CITIC
Group Corporation, executive director and vice president of CITIC
Limited and director and chief executive of the parent firm CITIC
International. Xiaoxian is the director and president of China
CITIC Bank Corporation.
Wealth management software maker Bravura Solutions appointed Andy
Gershon as sales director for life insurance solutions, Asia,
based in Hong Kong. Gershon was previously a global accounts
director for Sungard Systems. He reports directly to Roland Slee,
managing director for Asia-Pacific.
Former Julius Baer relationship manager Patsy Cheung was hired as
relationship manager for Swiss rival Lombard Odier's Hong Kong
office. She worked for Julius Baer in Hong Kong for three years.
Before that, she was at LGT Investment Management (Asia), the
Asian arm of the Liechtenstein bank.
Cayman Islands-based investment management firm Leopard Capital
named Richard Intrator as managing partner and chief investment
officer for its Cambodia business. Intrator was the executive in
residence at Stamford International University in Thailand. He
assumed the position after Scott Lewis, who resigned to become
head of corporate finance at Oryx Petroleum in Geneva,
Switzerland.
Standard Chartered, the UK-headquartered financial services firm,
appointed Patrick Lee as the new head of origination and client
coverage head for its Singapore office. Lee assumed the position
along with the role of co-head of Singapore wholesale banking. He
was previously the South East Asia investment banking head at
Nomura. He replaced Philippe Touati, who left the firm in April
2012.
JP Morgan Private Bank named Jacqui Brabazon as head of Asia
marketing. Brabazon was the former global head of marketing and
philanthropy at Standard Chartered. She now reports to Paul
Pullano, head of international marketing.
Freshfield Bruckhaus Deringer, the international law firm,
relocated Stephen Revell from Hong Kong to Singapore to take the
lead role in its new office in the city-state. Revell is joined
by Gavin MacLaren, who leads the Asian energy and natural
resources practice. The firm's arbitration practice in Singapore
is now led by Lucy Reed, global head of the international
arbitration arm.
ABN AMRO Private Banking appointed Jacqueline Koo to the
newly-created role of head of Asian discretionary portfolio
management based in Hong Kong. Koo now reports to Hugues
Delcourt, country executive for Singapore and chief executive
officer for private banking in Asia and the Middle East, and
Gerben Jorritsma, global head of discretionary portfolio
management. She was previously the head of portfolio management
for north Asia at Julius Baer.