Summary Of Moves In Global Wealth Management – October 2022
A summary from across the world of the moves and hires made in the wealth management industry.
Europe, Middle East, Africa and select international
centres (see below for Asia and North America)
Vistra, a provider of advisory and administrative support to fund, corporate, capital markets, and private wealth clients, appointed Philippe Lanciers as its new commercial director for Vistra Luxembourg. With more than 20 years’ experience, he is a senior investment management specialist with global expertise in the alternative and traditional fund industry.
Lanciers has served in senior management roles with US, Canadian and local service providers where he was responsible for product management, business implementation, analytics, and risk management services.
Multrees Investor Services, a provider of outsourced platform, investment administration and custody services, appointed Magnus Carlsson to join its board as a non-executive director. Carlsson has held numerous senior positions at Skandinaviska Enskilda Banken since joining the group in 1993, including head of project and structured finance and head of corporate clients. Most recently he was deputy president and CEO and has been a member of SEB’s executive committee since 2004.
Global consulting firm Sionic promoted Scott Lee from partner to managing partner. He also became co-head of the firm’s wealth management and private banking practice. Lee, who is based in Glasgow, jointly leads the practice with Geneva-based managing partner Philip Biber.
Lee has served in senior roles at KPMG, CitiGroup, Genpact, Aviva and Aegon Asset Management, following earlier posts with CSTIM, CMG Admiral and the TSB Group. He also founded the specialist wealth and asset management consulting firm Assiso.
TIME Investments hired Raymond Greaves and Andrew Gill. Greaves, who was appointed as head of equity funds at TIME, joined from finnCap, where he was head of research for over eight years. Gill joined as a fund manager for TIME:UK Infrastructure Income and the hybrid structured TIME: Property Long Income & Growth.
Private Markets Alpha, a digital marketplace for the alternative investments space, appointed Rebecca Bonini as operational due diligence and product specialist. Bonini works with PM Alpha founder and chief investment officer Alexis Weber and PM Alpha co-founder, chief platform officer and head of operations Chloe Mercer. Prior to PM Alpha, Bonini was a senior analyst at Akasia Europe.
RBC Brewin Dolphin appointed Joss Mitchell as wealth director, located at its London office. With over 35 years of industry experience, he joined from GAM Investments where he headed its wealth management division. Prior to that he worked at senior level at Kleinwort Hambros, Citi Private Bank and HSBC Private Bank, having started his career with Mercury Asset Management.
ABN AMRO Bank NV announced that chief human resources officer and member of the executive board, Gerard Penning, was leaving the bank. This was mutually agreed by the bank and Gerard Penning. Penning joined ABN AMRO in August 2020 from Royal Dutch Shell.
BRI Wealth Management appointed Dean Smith to join its board and promoted him to finance director and company secretary. Previously he was the firm's finance controller and company secretary. Smith joined BRI in 2004.
Mark Steward is to leave the FCA in the spring of this year, leaving the role of the FCA's executive director of enforcement and market oversight. He has been at the FCA for seven years and previously worked at the Hong Kong Securities and Futures Commission, where he was executive director with responsibility for the enforcement division.
Evelyn Partners appointed Matt Hughes as private client tax partner. He previously worked at PricewaterhouseCoopers for 12 years. Hughes is based at Evelyn Partners’ new Birmingham office at the city’s landmark 103 Colmore Row.
Wealth advisory firm Artorius appointed Ben Roberts as a client partner. Roberts worked in wealth management for the last 20 years and worked at Brown Shipley Private Bank, Brooks Macdonald and Tilney Investment Management.
Syz Capital, the alternative investments arm of Switzerland’s Syz Group, appointed Richard Byworth to head its liquid alternatives business. Byworth leads all aspects of the liquid alternatives portfolios, investment, and advisory including sales for the Zurich-based business. Starting his career in investment banking, Byworth has worked in London, Tokyo and Hong Kong, working at Japanese broker Nomura in the role of managing director.
UK wealth advisory firm Artorius appointed Kausar Sahab and Ray Keatley as a wealth planner and lending partner respectively. Sahab, who has 20 years’ experience as a financial planner, previously worked at St James’s Place Wealth Management and more recently at Lucas Fettes. Keatley has 14 years’ experience in financial services, most recently as a private banking manager at Handelsbanken managing and developing a diverse portfolio of clients.
Deutsche Bank appointed Zeynep Ozturk-Unlu as the chief investment officer for Europe, Middle East and Africa for the private bank. Ozturk-Unlu joined Deutsche Bank in London from Citi where she spent 22 years of her career, most recently in New York as head of capital markets Americas, leading North America and Latin America. Previously, she was with Citi Private Bank in London as EMEA capital markets head fixed Iincome, and before that as Citi’s head of Central Eastern Europe and Turkey cross-asset sales in institutional markets.
VG, a Jersey-based provider of trust, corporate and fund administration solutions, appointed Paul Mundy as head of funds. Mundy, with 30 years’ of experience, has served in several senior roles, most recently as managing director of a Jersey-based trust company and global head of fund services.
Wealth and investment manager Church House Investments appointed James Edgedale as a client director. Edgedale joined after spending over 30 years at JM Finn where he was a senior partner and went on to become chairman.
Asset manager Robeco Switzerland appointed Rachel Whittaker, head of sustainable investing research at Robeco, to join its executive committee, subject to approval by the Swiss financial market regulator. Zurich-based Whittaker, who has over 20 years’ experience in the investment industry, has specialised in sustainable investing since 2007.
RBC BlueBay Asset Management strengthened its UK financial institutional business with two new hires in London. Jack Adamson joined as director of business development for the UK and Ireland, and Harry Legge as associate director of business development for the UK, both reporting to Matthew Rawlings, head of financial institutions for the UK and Ireland.
Before joining RBC BlueBay, Adamson worked at Invesco (formerly Invesco Perpetual) for over seven years, as part of their sales team where he looked after a number of high-profile clients. Prior to this, he worked with the private bank C Hoare & Co within its wealth management business development function.
ThomasLloyd, a specialist impact investment solutions provider, advisor and asset manager, hired former Asian Development Bank SDG specialist, Smita Nakhooda, as head of impact and ESG. The role is a newly created one. Based in Zurich, she reports to chief executive Michael Sieg. Prior to this, Nakhooda worked at the multilateral financing institution ADB, where she was principal results management specialist.
Quilter annunced that Paul Feeney was stepping down as chief executive. Steven Levin, a senior manager at the firm, took over the post.
Saxo Bank appointed Mads Dorf Petersen as interim chief financial officer, replacing group CFO Mette Ingeman Pedersen. Most recently, Dorf Petersen served as head of commercial finance at Saxo. He joined Saxo in 2009 and has served in various leadership roles within finance, including head of business planning and analysis, and deputy head of group finance. Pedersen was appointed CFO last year, reporting directly to Kim Fournais, CEO and founder, after being CFO in Nordea’s Nordic Personal Banking unit.
HSBC Asset Management appointed Pierin Menzli as CIO of Thematic Equities. Based in Switzerland, he reports to Vis Nayar, global CIO of equities. The role is a new one at the firm. Menzli, who has more than 20 years of asset management experience, joined from Bank J Safra Sarasin where he was head of thematic equities.
Société Générale Private Banking Switzerland appointed Tûyet-Nhung Krummenacher as chief financial officer and member of the executive committee, and Aurélie Maillard as head of private equity. Krummenacher is based in Geneva and reports to Franck Bonin, CEO of SGPBS. Maillard, also based in Geneva, reports to Bonin and head of wealth management solutions at SGPB Europe Olivier Gérard.
Equiom appointed Jonathan Jennings as its new group CEO. He came from JTC where he led JTC’s global funds and corporate business lines as the group head of institutional client services.
Allspring Global Investments, an asset manager, appointed two European high yield portfolio managers, Sarah Harrison and Luigi Algisi, CFA, to join the Plus Fixed Income team. They are based in London, reporting to senior portfolio manager Jens Vanbrabant.
Nedgroup Investments appointed Tom Caddick as managing director of the international business. Caddick, leading the business from December 2022, took over from Andrew Lodge, who is retiring in Q1 2023 after more than 25 years with the company.
GQG Partners, an investment boutique, appointed Harry Nolan to the newly-created role of director of wholesale in the UK, reporting to director, head of wholesale in the UK & Ireland, Daniel Lee, based in London. Nolan joined GQG Partners from Tyndall Investment Management where he led the distribution of Tyndall’s funds business and covered all UK client accounts.
UK private bank Hampden & Co appointed Kevin Eagles and Alistair Macpherson as banking directors. Eagles is based in London and Macpherson in Edinburgh. Eagles has worked in banking for more than 33 years with Lloyds Bank, Weatherbys Private Bank and with C Hoare & Co. where he spent more than two decades.
Macpherson, who has more than 30 years’ experience in banking and portfolio management, joined from Homes England where he was a senior manager in the Structured Real Estate Finance team. He has previously worked at Bank of Scotland, Lloyds Banking Group and Standard Life.
Mirova appointed Guillaume Abel as deputy CEO. He is based in Paris and reports to Philippe Zaouati, chief executive officer of Mirova. Prior to this, Abel was head of business development and member of the executive committee of Ostrum Asset Management, an affiliate of Natixis investment.
Mirabaud Group's wealth management division appointed Carel Huber as global head of the external asset management teams to strengthen its offer in the multi-custodian wealth management market. Based in Geneva and reporting directly to Nicolas Mirabaud, managing partner and head of wealth management, Huber is responsible for managing EAM teams in Switzerland and abroad. He has more than 10 years’ experience in supporting EAM clients in large global banks.
S64, an alternatives partner to asset managers and private banks, made a series of new hires in its London office. The new personnnel include Venkata Kota, head of client solutions, formerly of Goldman Sachs and Deutsche Bank; Richard Marland, head of operations and fund governance, formerly of Deutsche Bank; Tetyana Turek, business and project management, formerly of Deutsche Bank; Mark Slater, legal counsel and compliance, formerly of JP Morgan and Simmons & Simmons; and Eve Wachtel, Asia Pacific distribution, formerly of Deutsche Bank.
Harneys, the offshore law firm, appointed Andrew Johnstone, a
partner, as head of litigation, involvency and restructuring for
its Cayman Islands office. Johnstone has been with Harneys in
Hong Kong for over four years. He relocated to Cayman last
September, to join and lead the Cayman disputes team. Johnstone
specialises in fraud and asset tracing, asset preservation and
enforcement, shareholder disputes, contentious trusts and
insolvency. He has advanced specialist expertise in cross-border
and multi-jurisdictional litigation, including obtaining
recognition orders, and all forms of interim relief such as
disclosure orders, freezing injunctions, anti-suit injunctions
and search orders.
Deutsche Bank appointed Nisheet Gupta as managing director and group head of the IPB Global South Asia UK team. Based in London, Gupta reports to Amrit Singh, managing director and head of wealth management of Global South Asia.
In addition to providing oversight on the GSA UK team, Gupta is responsible for covering a number of the most prominent ultra-high net worth clients and strengthening the proposition for the Global Indian segment in the UK. He has more than 30 years of banking experience, of which 20 years have been in the private banking industry in the UK and Dubai.
Prior to this, he worked at Standard Chartered bank in London where he covered the UHNW segment. Before that, he served in a variety of leadership roles with Barclays Wealth and HSBC Private Bank in London.
Standard Chartered Bank appointed James Lye as global head of international banking. He is based in Singapore, reporting to Raymond Ang, global head of affluent clients, and Samir Subberwal, head of consumer, private and business banking, Asia, and global head of digital business. Lye, who has more than 20 years of banking experience, was most recently head of markets for Citibank International Personal Bank Singapore.
Credit Suisse in Australia appointed Jasmin Argyrou as head of discretionary portfolio management for its Wealth Management Australia business line. Argyrou, who has worked at the Zurich-listed bank for three years and has more than two decades’ experience in investment strategy and portfolio management roles, was previously investment director, fixed income, at Aberdeen. Prior to that, Argyrou served in senior investment positions at large institutional fixed income managers BNP Paribas, Schroders and UBS Global Asset Management.
Asset manager Nuveen appointed Kristina Hermanson as head of natural capital, APAC and Africa, based in Sydney. Hermanson has 20 years' experience of working in the agricultural sectors at a variety of key industry players. Most recently, she was managing director at FMC for Australia, New Zealand and the ASEAN region where she was responsible for driving commercial results, culture and growth strategies.
Franklin Templeton appointed Rahul Bhalla in the newly-created role of head of Asia exchange-traded funds distribution, marking the US firm’s foray into the rapidly growing Asian ETF market. Bhalla is based in Singapore, and reports to Patrick O’Connor, head of global ETFs, in partnership with Tariq Ahmad and Matt Harrison, co-heads of APAC. Bhalla has more than 20 years of industry experience in Asia and the US. Prior to joining Franklin Templeton, Bhalla was head of AMICORP Asset Management, Singapore.
BNP Paribas Wealth Management appointed Tariq Saliem as head of credit for wealth management APAC, BNP Paribas. Prior to joining BNP Paribas, he was the global head of lending products and credit structuring at Bank of Singapore, where he led the teams in Singapore, Hong Kong and Dubai to build up the lending products and credit structuring business. Before that, he worked at Barclays, BNP Paribas, UBS and Standard Chartered across different locations in Asia and the Middle East.
Citi Private Bank appointed Keith Lee as managing director, Hong Kong, high net worth market manager. Lee reports to San-San Chan, CFA, high net worth head for Asia-Pacific. In the financial sector for more than 25 years, Lee worked for 16 years at UBS. He has also worked in Bank of China Group, Citibank, ABN AMRO Private Bank and Standard Bank Private Bank. He started his wealth management journey as an associate banker, banker and then team leader.
Deutsche Bank appointed a former Credit Suisse senior figure, Jin Yee Young, to be head of the international private bank in Asia-Pacific. Her appointment involves working with Claudio de Sanctis, head of the IPB and chief executive for EMEA, who, like Young, is a former senior Credit Suisse figure. Lok Yim worked as head of the firm's wealth management and the international private bank businesses in Asia-Pacific for six years; he now focuses on his role as chief executive of Hong Kong SAR.
Young has more than 25 years of wealth management experience, most recently as deputy CEO wealth management for APAC and head of WM for Singapore, deputy CEO Singapore branch and CEO for SymAsia Foundation at Credit Suisse. Prior to these roles, Young worked in senior leadership positions including market group head for Singapore and Malaysia and South Asia Switzerland, and various leadership roles in markets such as Indonesia, Taiwan, China, Hong Kong and Japan.
Allspring Global Investments, the investment manager, appointed Tan Song Chao (Gary Tan), as a portfolio manager on the Intrinsic Emerging Markets Equity team. He also serves as executive director and chief executive of Allspring’s local entity in Singapore. He reports to Jerry Zhang, senior portfolio manager and head of the Intrinsic emerging markets equity team. Before joining Allspring, Tan was lead portfolio manager for Asia equity strategies at Natixis Investment Managers.
OCBC Bank appointed Goh Chin Yee as group chief financial officer; she took over from Darren Tan who opted for early retirement. Goh joined OCBC Bank as a management trainee, rising through the ranks across many divisions, including corporate planning, investment research, asset management, finance, risk management and global treasury. Head of group audit since 2013, Goh graduated from National University of Singapore in engineering with First Class Honours. She holds the professional qualifications of Chartered Financial Analyst, Certification in Risk Management Assurance and Certified Internal Auditor.
Darren Tan was appointed CFO of OCBC Bank in 2011. In 2014, he led its purchase of Wing Hang Bank in Hong Kong, pushing OCBC’s expansion into Greater China.
HSBC Asset Management appointed Pierin Menzli as CIO of Thematic Equities, based in Switzerland. Menzli reports to Vis Nayar, global CIO of equities. Menzli, who has over 20 years of asset management experience, joined from Bank J Safra Sarasin where he was head of thematic equities.
M&G appointed Dr Ryohei Yanagi as its new deputy president of M&G Investments Japan to enhance the firm’s Japanese equities stewardship capabilities. Yanagi was appointed to the non-executive role, following a prior period of consultancy with M&G Investments Japan. Yanagi worked with a broad range of private companies and public institutions, as well as being visiting professor at Waseda University.
Investment company Capital Group appointed Vanessa Huang as director of financial intermediaries for Singapore and Southeast Asia. Huang works with the financial intermediaries team to expand Capital Group’s intermediary business across Southeast Asia. She is based in Singapore and reports to Suyin Tan, managing director of financial intermediaries for Singapore and Southeast Asia, who recently joined from Goldman Sachs Asset Management. Huang, with a decade’s experience from working with private banking and retail banking clients, joined from Franklin Templeton, where she was vice president of Southeast Asia distribution sales.
Citigroup appointed Anand Sairam as its chief financial officer for the Asia-Pacific region. Sairam has been part of the US bank’s finance team for eight years. Most recently, Sairam was Asia’s regional head of financial planning and analysis after serving in the role of head of corporate FP&A. In addition, he worked with Citigroup business leaders to increase profitable growth in the region by exploring partnership opportunities, identifying new customer segments and improving client experience.
Singapore-based SC Capital Partners Group appointed a group of managers for its funds.
It named Man Yik ("M Y") Chiu as managing director and head of asset management for its Real Estate Capital Asia Partners series of opportunistic funds. It also appointed June Kim Kyoung Joon as executive director for its Japan Hospitality Fund, Justin Cham as investment director, and Jester Perez as research director. Chiu is based in Hong Kong; Kim is based in Tokyo; and Cham is in Singapore, as is Perez.
BlackRock's majority-owned China asset management unit named Hua Fan, former chief investment officer of China Merchant Bank's wealth management business, as its new general manager, an equivalent role to chief executive. Fan replaced Bing Ji, who is stepping down two years after being appointed as general manager of the China asset management unit. Ji, who is staying with BlackRock, relocated to Hong Kong, where he was based earlier and provided sales services to China's largest institutional investors.
M&G appointed Andrea Rossi as its next chief executive and executive director. Rossi succeeded John Foley who, in April 2022, announced that he would retire. Rossi has a 22-year track record in the global insurance and asset management sectors, mainly through his time at AXA Group.