Singapore’s biggest insurer has sparked questions by replacing its experienced investment chief, Yoon Mun Thim, in another senior shakeup in the industry.
Bangkok-based Krung Thai Asset Management will install a new chief executive on May 2, following the retirement of Somchai Boonnamsiri last month, AsianInvestor has learned.
Insurers globally are facing declining profits, which is prompting a "major shift" in attitudes to include alternative assets, BlackRock's survey of 300 senior insurance executives shows.
The Singapore-based asset manager will see another C-level executive step down from his position, amid its ongoing merger with NTUC Income.
Large institutions such as CPPIB, HSBC and Macquarie flag obstacles deterring private capital from investing in emerging market infrastructure.
Hong Kong's de facto central bank has hired an ex-Goldman Sachs executive as head of external managers and appointed new heads of asset allocation and direct real estate.