New investment wealth manager for Goldman

The French fund house will cut poorly performing and overlapping funds and focus on products close to client preferences, as it aims to build Asia AUM, said the group deputy CIO.

Credit Suisse promotes new two senior roles and RMs; Philip Tso leaves Willis Towers Watson; Eastspring Investments installs alts CIO; BlackRock adds trio in Australia; JLL hires Asia fund advisory chief; Vanguard adds to China team; UBP hires investment adviser for South Asia; Franklin Templeton appoints Australia MD; Cryptocurrency firm Monaco names senior VP; RHTLaw Taylor Wessing creates private wealth head role.

The $126 billion state pension fund will hand out the new overseas-focused mandate in mid-November, amid rising volatility in global markets.

The family office of Steven Cohen, the founder of now-defunct US hedge fund SAC Capital, is expanding aggressively. It is expected to seek external money next year.

The regional chief of the French fund manager explains why it made the latest move in a spate of M&A taking place among active asset managers across the globe.