Print this article
Global Summary Of Moves In The Wealth Management Industry - March 2012
Tom Burroughes
4 April 2012
UK London-based
Hearthstone Investments appointed Lucy Hawkins as an assistant fund manager for
its forthcoming residential property fund. Hawkins will assist in the running
of Hearthstone’s Property Authorised Investment Fund, alongside lead fund
manager and director, David Gibbins. Ignis Asset
Management made its head of strategic alliance, Nick Pogmore, redundant, with
the positions of up to 20 other employees in its London
and Glasgow
offices also in jeopardy, following “strategic change” within the firm’s
business. JP Morgan Asset
Management saw the departure of Jamie Broderick, head of the European asset
management business. Broderick came to the US
firm in the early 1990s and had since then led its individual investor business
in Europe, its European mutual funds arm and
most recently its retail and institutional operations in the region. He joined
from the Boston-based investment management firm Wellington Management Company. Rowan Dartington,
the Bristol-based stockbroker and wealth manager, appointed Allan Rosengren as
relationship development director within Signature, its discretionary
investment management business for intermediaries. Rosengren was latterly joint chief executive
of Lighthouse Group, having previously been CEO of Falcon Group and Sumus. He
is also currently a partner at Heron Capital, a consultant at Rosengren
Consulting and director at Capitecs. Deutsche Bank
Private Wealth Management announced five appointments to its Glasgow office. The team has three new
relationship managers in the shape of Stephen Lawler, Kimberley Nelson and
Alison Fitzsimons. Lawler joined from Santander,
where he worked as a financial planning advisor, while Nelson previously worked
in Standard Life’s investment technical team. Fitzsimons has trained as a
solicitor since 2008. Scott Ballantyne joined the team as an investment
director. He latterly worked for Gillespie Macandrew, and has also worked for
Rensburg Sheppards (now Investec) and Grieg Middleton (now Barclays Wealth).
Jan Coutts is now part of the team as a client assistant. Earlier in her
career, she worked for Barclays Financial Planning, O2 and GE Money Motor
Finance. London-listed Shore Capital, manager of the Puma range of
venture capital trusts, appointed Christian Yates as a senior advisor within
its asset management business. Yates will seek new opportunities and develop
products within the VCT market. He was
previously a partner at investment manager Hazel Capital, where he helped
establish a renewable energy infrastructure business and launch several funds
investing in public and private equity. He remains a director of the Hazel
Renewable Energy VCT 2. Martyn
Surguy stepped down from his position as UK head of portfolio management at
Deutsche Bank Private Wealth Management. He will be replaced internally by Paul
Wharton, the company’s chief investment strategist, until a permanent
replacement is found. Schroders
announced that its chief investment officer, Alan Brown, will step down from
its board in May, and that the firm will not replace him. This means that the
UK investment manager’s four investment chiefs - Ken Lambden for equities, Karl
Dasher for fixed income and qualified eligible participant, Nico Marais for
multi-asset and Geoff Blanning for emerging market debt and commodities - will
report to chief executive Michael Dobson. Ignis
Asset Management appointed Graham Ashby to manage the UK Equity Income Fund
within its UK
equity team. Ashby has over 21 years of investment experience and was
previously lead manager of the LV=
UK Equity Income Fund. He was also recently head of UK
equities at LV=
Asset Management, and has previously worked for Credit Suisse. UK-listed
F&C Investments strengthened its investment and institutional business with
the addition of Steve Ilott as head of multi-strategy investments. Ilott is a
former partner of Alignment Investors, which is part of BlueCrest Capital, and
was also global head of fixed income at Aberdeen Asset Management until 2007.
He started his career at Robert Fleming & Company, before moving to
Deutsche Asset Management in 1998. Barclays
Wealth bolstered its Cardiff
office with the addition of Paul Kirk - latterly of Coutts - as regional head.
In his new role, Kirk oversees Barclays Wealth’s activity across south Wales, based primarily within the Cardiff office, which now
has over 20 employees. At Coutts, Kirk headed up the wealth management offering
in the southwestern region of the UK, holding responsibility for
developing the business and opening new regional offices. Goldman
Sachs reshuffled the board of its UK subsidiary following the
resignation of four executive members. Yoel Zaoui, Christopher French, David
Wildermuth and Matthew Westerman stepped down from Goldman Sachs International.
The first three, who retain these primary roles, are respectively co-head of
global mergers and acquisitions, European head of private wealth management and
managing director in the financing division. Westerman, meanwhile, relocated to
the firm’s Hong Kong office. He was recently
named as co-head of investment banking for Asia-Pacific ex-Japan. Kypros
Charalambous, head of discretionary portfolio management for the Midlands at Deutsche Bank Private Wealth Management, left
the post. Charalambous had been at Deutsche since March 2009, when he joined
what was then called Tilney Private Wealth Management from Barclays Wealth. He
was based in Birmingham. Berkeley
Law, a London-based law firm specialising in wealth advice for high net worth
individuals, bolstered its CIS capabilities with the hire of Elshad Huseynov
and Lydia Lavrova as senior counsel and trainee lawyer respectively. Huseynov
was latterly with Deloitte, managing a portfolio of individual clients and
multinational FTSE 350 companies, and has extensive experience in acting for
Russian and CIS individuals and corporates. The hires are intended to help
Berkeley Law capitalise on the growing number of HNW individuals from countries
such as Russia, Ukraine and Kazakhstan
who want to move their assets or themselves to the UK. RBC
Wealth Management, part of Royal Bank of Canada,
hired Jeremy Parlons – latterly of Credit Suisse - as a director in its
London-based UK
private client wealth management team. Parlons joined as a relationship manager
and he will be working on expanding the firm’s ultra high net worth clients,
family office and entrepreneurial client base. He will be based in London and report to Philip Harris, the Canadian bank’s
head of UK
private client wealth management. London-based
environmental investment manager WHEB Group bolstered its asset management unit
with the addition of a UK
sustainability investment team - latterly of Henderson Global Investors -
consisting of George Latham, Seb Beloe, Tim Dieppe and Hyewon Kong. Arbuthnot
Banking Group named Alan Karter as head of legal affairs, continuing a raft of
recent changes which saw the installation of a new chief executive at the
firm’s private banking and wealth management arm at the start of this month.
Karter was latterly a partner in the corporate group at Simmons & Simmons
and in this capacity advised Secure Trust Bank and Arbuthnot Banking Group on
the November AIM IPO of the former. Schroders,
the UK
investment house, appointed Marcus Durell as a structured solutions specialist
within the portfolio solutions team, reporting to head of structuring Mike
Hodgson. Prior to joining Schroders, Durell held positions at RBS and ABN AMRO,
where he was a trader on the fund derivatives desk. Additionally, he has held
positions at Citigroup and Marsh & McLennan, working on emerging market
credit and structured insurance solutions respectively. Rathbones
strengthened its Edinburgh
office with the hire of investment manager Keith Mackenzie from Williams de
Broë. Mackenzie had been an investment manager at Williams de Broë since 2008,
having previously worked at Gerrard Investment Management. Williams de Broë is
part of Evolution Group, which was bought by South Africa’s Investec at the end
of last year. Williams de Broë’s Edinburgh
office is to be folded into Investec Wealth & Investment’s operation in the
Scottish capital. Dickinson
Dees, the UK-based law firm with 100 employees in its private client practice,
promoted Emma Moody to head of charities. Moody joined the firm in 2007 from London law firm Farrer
& Co and has worked in charity law for ten years. She replaced Ros Harwood
who left the company for Gordons, a law firm in Leeds. Thomas
Miller Investment launched an onshore private client business under Harry
Morgan, who will join the firm in May as head of private investment management.
Until enrolling at Edinburgh
University in September
last year, Morgan was head of investment management at Adam & Company. The
creation of an onshore private client investment business in the UK is meant to
complement the firm’s offshore operation in the Isle of Man. Paradigm,
the UK-based financial services group, appointed Noel Stubley to the newly-created
position of finance director of the group. Stubley joined from Lloyds, where he
was director in the bank's corporate markets and acquisition finance team.
Earlier in his career, he worked for KPMG and Ernst & Young. In his new
job, Stubley works with Paul Hogarth and Anthony Morrow in the senior
management team with all the group's activities falling within his remit. UBS
Global Asset Management’s head of wholesale for Europe and the Middle East, Rob Lay, assumed interim responsibility for
strategic alliances after the departure of current head Warren Tonkinson for
Skandia. Tonkinson has taken up the role of head of UK distribution
at Skandia. Charles
Derby, the UK
financial advisor, moved past the 200-advisor mark, nine months after the
business was launched in July 2011 and as it argued that regulatory change is
driving its asset growth. Charles Derby, with £600 million (around $950
million) of client funds under management, aims to reach £850 million of assets
under management by the end of this year. Gallagher
Benefits Consulting appointed Paul Kiely as director of private client services
- a role in which he will develop and expand the south and southeastern UK region, including London. Previously, Kiely was a senior
consultant at London-listed insurer Jardine Lloyd Thompson. Martin
Currie, the fund manager firm, appointed Matthew Franklin to lead global
industrials and utilities research. Franklin
previously spent 15 years at Schroders. Ashcourt
Rowan, the UK
wealth management firm, appointed Richard Sinclair, who has been group chief
operating officer, to its board. He previously worked at OfCom, the UK telecoms
regulator, as Olympic and Paralympics delivery director - a role in which he
was responsible for leading the team that deals with the electromagnetic radio
spectrum for broadcasting the London 2012 games. Hiscox,
the international specialist insurer, made a trio of appointments to bolster
the high net worth motor capabilities of its UK art and private client division.
Steve Morse, previously senior development underwriter for the division in Birmingham and London, was
promoted to head of the firm’s high-value motor arm, while Matthew Webb has
been named head of motor underwriting for the UK. Webb has spent the last four
years underwriting HNW motor business at Hiscox. Clare Limond was appointed as
motor underwriter, having previously worked in motor roles at RSA and Aviva. John
Clougherty left his post as director of UK
collective investments at London's
Aviva Investors in order to pursue other opportunities. Clougherty headed a
joint venture between Aviva UK Life and Aviva Investors alongside chief
operating officer, Tim Orton, who assumed Clougherty’s role and
responsibilities on an interim basis. Thesis
Asset Management, the UK-based solicitor-linked asset manager, recruited
Lawrence Cook and Neil Lloyd to take up the roles of business development and
marketing director and compliance manager, respectively. Cook joind Thesis from
Towry Wealth Management, where he latterly managed the Bristol office. Before this he spent 25 years
at Standard Life. Lloyd, meanwhile,
previously worked at Skandia for four years and before this spent seven years
at Rensburg Investment Management covering private client and fund management
compliance. Close
Brothers Asset Management saw the departure of Paul Chambers and Anita Juneja,
who were chief financial officer and head of strategic relationships
respectively. Chambers had been with Close for two years, having previously
been an executive director at Lehman Brothers. Juneja had also been with Close
since 2010, having previously been head of business implementation at Cofunds. Protean
Investments hired Bob Champney to bolster the firm’s investment solutions
capabilities, with particular focus on macroeconomic dynamic index funds.
Champney was latterly managing director and head of product development at
Merrill Lynch. He has also been head of exotic derivative trading at Toronto
Dominion, as well as serving as special advisor to the UK Treasury Select
Committee during its investigation of the split-capital investment trust
industry. Rathbone
Investment Management made four new hires, taking staff from Brewin Dolphin,
Newton Investment Management and Turcan Connell. Tony Milner and Caroline O’Callaghan joined
from Brewin; both were divisional directors and ten-year veterans at their
former firm. James Neill had been an
associate director at Newton.
Evangelos Assimakos, investment manager
at Turcan Connell, joined Rathbone in Edinburgh
and reports to office head David Macauley. James
Hambro & Partners, part of J O Hambro Capital Management, named four
partners – including the appointments of Tim Boughton and Nicola Barber, and promoted
Charles Underwood and Penny Kunzig. Boughton, formerly of Barclays Wealth since
2008, started as partner for business development. Barber joined the firm’s
asset allocation committee. Kames
Capital, the UK-based asset management arm of AEGON, hired former LV= Asset Management
chief investment officer Piers Hillier as head of overseas equities. Henderson
Global Investors hired Matthew Beesley as director and head of global equities.
Beesley joined from Trinity Street Asset Management, where he was a partner. The wealth and investment management
arm of Barclays added Dame Judith Mayhew Jonas to the advisory committee for
its wealth management business in the UK
and Ireland.
Dame Judith, who by profession is a lawyer, served as a board and non-executive
committee member at firms including The New West End Company, London &
Partners and Merrill Lynch in New
York. Also at the same part of Barclays, Matthew
Woodbridge joined the firm as a vice president, leaving his old post as head of
investment at Chelsea Financial Services in London. C Hoare & Co hired Simon
Barker - latterly of Investec - as head of charities. Barker, who began his
career at KPMG, previously worked for Schroders Private Bank, GAM and Asset
Risk Consultants. UK wealth advisory firm Towry announced that chairman Glyn
Jones was stepping down after five and a half years in charge. The firm's
current non-executive director Gerald Corbett will assume the vacant position. Martyn Surguy, the former head
of portfolio management at the UK
arm of Deutsche Bank Private Wealth Management, joined Morgan Stanley Private
Wealth Management. Switzerland Iris
Bohnet, an academic, and Jean-Daniel Gerber, a former senior Swiss government
policymaker, were proposed for election to Credit Suisse’s board of directors
for three years at the bank’s annual general meeting on 27 April. Bohnet, a
Swiss citizen, is academic dean and Professor of Public Policy at the Harvard Kennedy School.
Gerber, a Swiss citizen, was director of the Swiss State Secretariat for
Economic Affairs (SECO) between 2004 and 2011. Peter Weibel stepped down from
Credit Suisse’s board of directors. Weibel has been a member of the board since
2004 and was chairman of the audit committee from 2004 to 2011. Rothschild Wealth Management hired former
Morgan Stanley veteran Jon Andrea von Planta as the new co-head of its private
client business in Zurich.
Joining Rothschild from an asset management advisory company which he founded,
von Planta took responsibility for the private client business with Riccardo
Petrachi, who joined from UBS in March of last year. Evelyn Lederle joined
Jupiter Asset Management as the UK
firm opened the doors to a new representative office in Zurich,
taking on the role of senior sales manager for Switzerland. Vontobel
appointed Georg Schubiger, a senior manager at Danske Bank, as the new head of
its private banking business unit, which will take effect from 1 September
2012. Schubiger took over from Peter Fanconi, who is left to pursue a “new professional
challenge outside the group”. Schubiger reports to Zeno Staub, chief executive
of Vontobel. Europe Jean-François Mazaud replaced Daniel Truchi as head of
Société Générale Private Banking as part of wide-ranging changes at the top of
the firm. Mazaud’s responsibilities include being a member the executive
committee of the private banking, asset management and securities services
divisions of the firm. Patrick Folléa
was appointed deputy head at the private bank, retaining his roles as CEO of
Société Générale Private Banking France and supervisor of the private bank’s
activities in Belgium.
Previous deputy head of the private bank Yves Thieffry is to take up another
position at the firm after holding this role since 2007. Jersey Finance appointed
its technical director, Heather Bestwick, as deputy chief executive – a
newly-created role in which she will assume several operational functions,
including human resources, finance and IT. Bestwick, who retains her role as
technical director, joined Jersey Finance in 2010, having formerly been
managing partner of the Jersey office of
international law firm Walkers. Offshore law firm Carey Olsen added lawyer Elaine Gray to
its litigation and dispute resolution group at its Guernsey
office. Gray is the department’s second senior appointment in the last nine
months. Gray joined after having been a partner at Guernsey law firm AO Hall,
where she specialised in dispute resolution, employment law, intellectual
property law and commercial litigation specifically based in the Channel Islands. Societe Generale Private Banking named Nicolas Cagi Nicolau
as head of commercial and marketing, reporting to Jean-François Mazaud and
Patrick Folléa, the recently-installed new head and deputy head of SGPB. Nicolau
had been deputy global head of market solutions at SGPB for just over a year,
managing market activities covering fixed income, foreign exchange, equity and
bonds, and overseeing the development and promotion of its structured products
and derivatives business lines. Societe Generale appointed Karim Hajjaji as chief operating
officer of its global investment management and services division. Hajjaji was
already chief financial officer of the global investment management and
services division and will retain these responsibilities in addition to his new
ones. He joined the executive management team of the division, reporting to
GIMS head, Jacques Ripoll. Hajjaji was CFO of SocGen’s global investment
management and services division since 2009, having previously been CFO of SG
Americas from 2005 BNP Paribas moved Béatrice Belorgey from head of investor
relations and financial information to deputy head of private banking in France. Belorgey
is number two to Sofia Merlo, also co-chief executive of wealth management at
the French giant. Stéphane de Marnhac replaced Belorgey as responsible for the
investor relations and financial information. Separately, the French giant appointed
Kaye Fontaine - latterly of SG Hambros – as head of private banking in Jersey. UK-based Cordea Savills, the international property
investment manager, appointed Clement Pigott as head of investment for France and Benelux.
Pigott was named president of the firm’s new French unit, Cordea Savills SAS. Pigott
has 20 years of industry experience in European property investment markets,
having worked for MAB group, Goldman Sachs and UFG Credit Mutuel. In his new
role, he reports to Richard
Lake, who is head of
European investment. Geneva-based Semper, the asset management firm, appointed
Jean‐Evrard
Dominicé as chief investment officer - a role in which he will develop the
firm’s investment products and services, with the additional task of opening a London office. Previously,
Dominicé worked for Warburg Dillon Read in Zurich,
and subsequently for Credit Suisse in London. Credit Suisse in Guernsey
appointed three of its managers to its board of directors. Chris Mountford, Ciaran O’Neill and Fiona Troalic were appointed
to the position. Mountford joined Credit Suisse in 1995 and has worked across
a number of areas at the firm; O’Neill is head of trust and estate advisory in
Guernsey, having joined the company’s London
office in 2007. Troalic joined Credit Suisse Trust in 1996 and is head of its
legal and compliance department. Deutsche Bank appointed Marc Hess to succeed Roland Folz as
chief financial officer for its private and business clients corporate
division, effective from the start of July. Hess was previously a management
board member and chief financial officer of Deutsche Postbank. Bank Sal Oppenheim (Switzerland),
now part of Deutsche Bank, appointed former Coutts banker Rolf Frehner as an
executive board member and head of Central and Eastern
Europe. Frehner recently held the post of executive vice president
for Eastern and Central Europe for four years at Coutts in Zurich. The focus of his work was on Russia
and the CIS. International Lowenhaupt
Global Advisors Australia, the family office firm, appointed Juliet Dunworth as
its executive director. Prior to joining the firm, Dunworth held senior roles
at Credit Suisse Private Bank, Pengana Capital and Westpac Private Bank. Middle East and Africa Emirates NBD appointed Jamal bin
Ghalaita as the new chief executive of Dubai Bank, recently acquired by
Emirates NBD, making it a wholly-owned subsidiary. Bin Ghalaita's appointment was
in addition to his current position as CEO of Emirates Islamic Bank, another
Islamic subsidiary of Emirates NBD. The
firm appointed Douwe Oppedijk, formerly the interim CEO of Dubai Bank, as
advisor to the new Dubai Bank chief. Bin Ghalaita's move was aimed at unifying
the management team of both Islamic subsidiaries under the umbrella of Emirates
NBD. Bin Ghalaita was appointed as CEO of Emirates Islamic Bank in September
2011; he previously held the position of group deputy CEO, heading the consumer
wealth management division. Asia-Pacific Prime Value Asset Management, the
Australian equities fund manager, hired Shin Thin Wong as a portfolio manager
from local rival Xantias Financial Management. There, he was head of
investments focusing on Australian equities portfolios. SFG Australia, the
wealth manager formerly known as Snowball Group, added Naseema Sparks as a
non-executive director to its board. Sparks
currently holds a number of non-executive directorships, including Blackmores
Limited, PMP, DealDirect, Chartis Australia, Sydney Dance Company and Racing
NSW. AllianceBernstein,
the Australian investment management firm, named Ross Kent as chief executive.
He served as senior managing director for institutional relationships since
December 2006. CommInsure, the
Australian insurance and advisory group, appointed Olivia Sarah-Le Lacheur as a
new head of national accounts to manage the firm's relationship with
Commonwealth Bank of India's
advice business. She will be responsible for the company's national dealer
group portfolio, supported by the national accounts team. In the next weeks, a
national accounts manager will also be named, said CommInsure. ClearView Wealth
hired Tony Smith and Tony Schiavello as state managers, responsible for selling
life advice and wealth products in Queensland,
Victoria and Tasmania. They have both been in the
industry for over 20 years. Pacific Investment
Management Company, the US
headquartered investment firm, appointed John Valtwies as Australia-based
portfolio specialist to its global wealth arm. He joined from Morningstar,
where he was a senior research analyst. Altius Asset
Management, the Australian boutique asset manager, hired Don Tammer, Wayne
Jarman and Tony Fitzgerald as portfolio managers for the investment advisory
committee, which focuses on domestic and international bond markets.
Stammer used to be an economist for the Reserve Bank of Australia and
also served as director of ING Australia. Fitzgerald was previously the
chairman of the credit committee of Global Asset Management, a subsidiary of
Colonial First Statea. Jarman used to be an executive director of the NSW
Government's asset management committee. Global
auction house Christie’s, hired Jinqing Caroline Cai
as managing director of China.
She starts 1 June and was previously based at PR firm Brunswick
where she was founder of the China
office. Cathay Financial Holdings, the Taiwan financial holding firm, hired Timothy
Matson as chief investment officer for its joint venture with US asset manager Conning, in Asia.
Matson joins the firm from ING Insurance in the US where he
served as head of investments. Deutsche Bank
hired Gunit Chadha and Alan Cloete as co-chief executives for Asia-Pacific,
replacing Robert Rankin who will become co-head of coporate banking and
securities and head of corporate finance based in London. They start 1 June. Japan’s Nomura hired Deutsche Bank’s former head of
investment products for North Asia, Bill Tsang, as head of investment products
in Asia outside of Japan
in the wealth management division. Citi India hired a new head for its
private banking operations. Sameer Kaul assumes the position of head of private
banking for Citi Private Bank India,
after serving as head of the country's retail branch banking business. Mitsubishi UFG Securities appointed its
London-based head as principal executive officer. Cliff De Souza, currently
chief executive of Mitsubishi UFJ Securities International in London, will become PEO of the Tokyo-based
securities subsidiary. Lowenhaupt Global Advisors Australia,
the family office firm, appointed Juliet Dunworth as its
executive director. Prior to joining, Dunworth held senior roles at Credit
Suisse Private Bank, Pengana Capital and Westpac Private Bank. Pictet Asset Management named Prashant
Kothari as senior investment manager in the emerging markets equity team for
the Indian equities division. Kothari was previously a vice president and
senior investment manager at ICICI Prudential Asset Management Company in India. DST Global Solutions appointed Tasman
Tanner as senior client relationship manager for global third party
administrators, responsible for global custodian accounts in Sydney. Also newly appointed was Michele
Harrick as client solutions manager, responsible for
defining, designing and supporting the sales of client-specific solutions.
Tanner is now based in Sydney, while Cameron is based in Melbourne. The hires came
on the heels of the appointment of Fran Thompson as head
of client relationships and new business for Asia. Suncorp Group added Dr Doug McTaggart
and Michael Cameron to its board as non-executive directors. McTaggart is
set to step down from his role as chief executive of the
Queensland Investment Corporation in April, while Cameron is currently the
CEO and managing director of The GPT Group, an Australian property firm. HSBC Global Asset Management appointed
Sten Ankarcrona as chief executive for Singapore, replacing Patrick Tse
who has taken a regional business management post for
the Hong Kong division. Ankarcrona joined the company in 2004 as
managing director for the Stockholm branch and then became head of sovereigns and supranationals Asia-Pacific in Singapore in
2010. Before HSBC, he was a senior portfolio manager for US equities at
Nordea Investment Management. Citi named Han Kwee Juan as chief
executive and country business manager for Singapore. Han was previously the
head of retail banking, which he assumed in August last year. He
took over from Anil Wadhwani, who was appointed head of cards and
personal loans for Citi Asia-Pacific. HSBC appointed Vineet Vohra as regional
head of wealth development for Asia-Pacific based in Hong
Kong. Vohra was a general manager for Asia wealth management at Australia and
New Zealand Banking Group. He departed the company amid a series of
cost cutting initiatives at the Melbourne firm amounting to around 1,000 jobs terminated. Khan Investment Management, the
Cayman-based investment advisory firm, brought in Narantuguldur Saijrakh to
head its new representative office in Ulaanbaatar, Mongolia.
Saijrakh resigned from his role as general manager of Asia Pacific
Securities, the brokerage and dealing arm of Asia Pacific Investment Partners,
to focus on being director of Khan Investment Management. Swiss financial group CLS Group Holdings
appointed Makoto Miyazaki as general manager, Asia-Pacific based in Tokyo. Miyazaki joined the firm from MST Insurance Service, where he was
senior managing director. At CLS, he is responsible for all
Asia-Pacific region related operations, reporting to Alan Bozian, chief
executive officer. He replaced Kiyoshi Morofushi who retired after 12 years
with the company. Blackstone, the New York investment and advisory firm, added
two senior members to its Asian private
equity team. Yi Luo and Edward Huang joined as senior managing director
and managing director, respectively, both with a focus on the
Greater China market. Luo was previously with Carlyle Group in Shanghai and Hong Kong,
while Huang was with Morgan Stanley Private Equity
Asia in Hong Kong. Both report to Michael Chae, head of private equity
for Blackstone Asia-Pacific. Nikko Asset Management chairman and
chief executive Timothy MacCarthy announced his retirement at the end of
the fiscal year. His old post was assumed by current head of
international and institutional business Charles Beazley in 1 April. The
moves are part of the Japanese firm's long-agreed succession
plan, the firm said. Global investment firm BNY Mellon
announced the appointment of Aneish Kumar as country executive for India and chief
representative of the company's Mumbai representative office.
Kumar brings over 30 years of industry experience to the role, taking
over from Navneet Singh, who retired in February. Ibbotson Associates Australia, the asset
management unit of Morningstar Investment Management, hired
Damian Holland as managed account solutions head. Prior to this
role, he was the group head of distribution at Armytage Group and also
served as managing director of Ralton Asset Management. At Ibbotons, he
is responsible for developing and managing the delivery of managed
account portfolios. Matthew Koder, the former head of
Asia-Pacific corporate and investment banking at Bank of America
Merrill Lynch, was appointed president of the region. Koder joined
the company in June 2011 from UBS and now reports to Thomas Montag, president
of global banking and markets. Meanwhile, Brian Brille,
current president, assumed the new position of chairman for Asia-Pacific. Credit Suisse hired two senior analysts
from Samsung Securities to grow its Asia-Pacific equity research
team. Viktor Shvets was hired as managing director and head of thematic
equity research Asia-Pacific, based in Hong Kong,
while Timothy Ross became managing director and head of Asia-Pacific transport research.
Both report to Ernest Fong, head of equity research for non-Japan Asia. A senior manager who previously worked
at the Asia wealth management division of Standard Chartered was named
chief of the UK
and Jersey-based wealth unit. Bjorn Stauch
relocated from Singapore
to the London office for the role, replacing Tim Hinton, who has moved from the London
division to Singapore. HSBC Amanah Malaysia strengthened its retail
banking and wealth management units with the appointment of
Rizwan Jawaid as country director. Jawaid joined from HSBC Global
Amanah where he worked for over seven years, most recently as head
of the bank's credit cards business in Saudi Arabia. UK-headquartered Aberdeen Asset
Management named Charles Macgregor as head of credit research for Asia-Pacific.
Macgregor joined from Aviva Investors Asia in Singapore,
where he was senior vice president in charge of Asian credit research.
Concurrently, the firm announced that Thu Ha Chow is being relocated to Singapore as a
senior credit analyst. Asset management firm BlackRock
appointed Joseph Pacini as head of BlackRock Alternative Investors Strategy
Group for Asia-Pacific ex-Japan. Pacini previously worked at JP
Morgan Private Bank (Asia) where he was head of alternative
investments. At his new role, he is responsible for leading the alternatives
division while working closely with the Global BAI Strategy
Group. Citi Private Bank hired former HSBC
Private Bank managing director and head of marketing Donna Leong to take up
the role of head of marketing and sales for Asia.
Leong replaced Money K, who moved to different role at the US lender. Leong had worked at Citi
for a decade before transferring to HSBC in 2002. St George Bank, the Australian banking
arm of Westpac Group, appointed George Frazis as chief executive, taking
over from Rob Chapman. Frazis joined from Westpac New Zealand where he served as CEO for three and a half years. His old post was filled by
Peter Clare, formerly the group executive for products and operations at
Westpac. Sun Life Financial, the Canadian asset
management firm, hired Kevin Strain as president of Sun Life
Financial Asia, replacing Dikra Ohannessian who retired. Strain is now
based in Hong Kong, reporting to Dean Connor, president and chief
executive. The announcement came after the company opened a new office in
Beijing. High-end international property
investment group The Hideways Club named Iain Johnston as chief executive. Johnston has been non-executive chairman of Event Marketing
Solutions and non-executive director of Active Risk, and InternetQ.
The CEO slot had been vacant for over six months Nick Bettany left. Barclays Wealth hired Shajikumar Devakar
as director for wealth management in India. Devakar used to be a
director at Deutsche Bank in Bangalore and brings over 12 years of financial services experience to the role. At Barclays Wealth, he is
responsible for the affairs of high net worth clients and reports to
Vishal Jain, managing director. Global investment services firm PDL
International hired Keith Campbell Golding as chief representative for
Middle East and Asia. Golding previously ran Strategy Finance, which
he set up in August 2010 to help companies looking to do business in
the Middle East and Asia. DBS Bank, the Singapore bank, hired
Peter Triggs as managing director, head of international and head of wealth
structuring, effective April 2012. Triggs relocates from Geneva, where he was
deputy chief executive and head of international private
banking at BoC (Suisse). He reports to Su Shan Tan, group head of
wealth management at DBS Bank. UBS announced plans to increase its
wealth management client advisor count to 4,700 in the medium term, with
a particular focus on the emerging market and Asia-Pacific
segments. The Swiss bank also said it would make advisor training and platform
enhancements to further strengthen links between its wealth
management and investment banking businesses. LeapFrog Investments, the Mauritius-based
investment fund, named David Steel director of investments for East Asia in Sydney. Steel was previously the managing director of
strategic planning at American International Group, specializing in
merger and acquisition, restructuring and strategy projects.