New Asian CEO for Fortis

Certain leveraged and inverse exchange-traded funds newly listed in Hong Kong are being traded far more heavily than others, which has led some to question the source of demand.

Big fixed income investors will see the newly approved China-Hong Kong bond trading link as inferior to other access channels, though smaller players should find it useful, say industry experts.

The $462 billion state pension fund has just hired two more private-market portfolio managers in Singapore and is looking to add three in London and two in New York.

CIC officially opens in New York; Value Partners hires strategic planning manager; SSG Capital appoints ex-Wellington exec; Vanguard faces scepticism over new WFOE; Lombard Odier names Asia chair, CEO; Deutsche WM hires greater China quartet; HSBC PB names SE Asia equity head; HK SFC names advisory committee; Heitman adds Australia marketing head; SimCorp replaces Asia head; Unigestion hires quant research head.

The only real surprise about Moody’s cut in China’s rating was the timing. But some see the move yesterday as a signal of doubt that may stall the opening of mainland bond markets.