HSBC appoints global head of HNW sales; BlackRock loses Asia real estate research head; Franklin Templeton names lead PMs; BNP Paribas WM shuffles senior executives; PSPF names new supervisory board chairman; China Post and Capital switches chairman.
The Chinese insurer doubled its Hong Kong equity allocation and ramped up its alternatives exposure last year, while also boosting its cash position in anticipation of domestic rate rises.
Guidelines issued on Friday aimed at curbing the growth of mutual funds tailored for individual – or small groups of – institutional clients have come earlier than some expected.
JP Morgan PB names Asia chief; Schroders' Taljard relocates, Steven Chua to exit; Sarasin adds Asia UHNW head; UBS expands expat coverage team in Singapore; RBC replaces Asia UHNW head; BNPP IP adds HK retail head; Northern Trust opens Seoul branch; Lioncrest to expand to Singapore; Aviva Investors loses BD director; Iosco sets up Asia-Pacific hub.
The Taiwanese insurer has welcomed the US rate hike, but is concerned about global uncertainty. It is buying more emerging-market bonds, with the exception of Chinese debt.
Investments under China's new Public Pension Fund scheme will be more conservative than those of the National Council for Social Security Fund, says NCSSF chairman Lou Jiwei.