MAS names sustainability head; Malaysia’s EPF appoints COO and CFO; GIC PE head for SEA leaves; State Super hires new exec; Hesta appoints chief growth officer, chief Debby Blakey appointed to corporate governance board; ex-BlackRock exec joins IQ-EQ in Singapore; HSBC AM builds direct real estate team; ex-Vanguard head of distribution joins LGIM; Sanne names Singapore head; and more
This year's new partners included Asian FIG head, Douglas Feagin, who has spent much of his time working on the Bank of China IPO, and Goldman's investment in ICBC - which are two of Goldman's most lucrative deals of 2006. The head of Hong Kong investment banking, Ron Lee, was also named, as was newly appointed co-president of Goldman Sachs Singapore, Tim Leissner. Gene Reilly, who joined from Deutsche Bank three years to run algorithmic trading was also named partner as was Allan Marson, who runs the commodities trading business out of Singapore.
David Ryan in equity sales was also named partner, as was Asia chief of staff, Matthew Fremont-Smith and senior China banker and oil and gas specialist, Jin Yong Cai. Also promoted to partner was Tom Morrow, one of the most senior members of the equities division, and so too were head of technology, Mary Byron, and Andrew Wolff, a member of PIA (principal investment area), who was heavily involved in the ICBC investment - in which Goldman is looking at a paper profit of over $4.5 billion. And from the highly profitable Asian Special Situations Group - the part of the business that made so much money on the Jinro transaction last year - Jason Brown also made partner.
Interestingly enough - considering the long-held perception that Goldman is less focused on research - there were four senior equity research analysts named as partners too. These were Asia strategist, Timothy Moe; Asia banks analyst, Roy Ramos; the head of Japan financial institutions research, David Atkinson; and the director of Japan research, Kunihiko Shiohara, who also has a coverage focus on automobiles.
The announcement almost doubles the number of partners working in Asia.
The US firm also named 47 new managing directors in Asia (including Japan).
Kwap property arm appoints CEO; VFMC names new CEO as Lisa Gray retires; MSIG Singapore promotes Mack Eng as CEO; Monroe Capital opens first Asia office in Seoul, hires head from Aberdeen; Vanguard Australia appoints new MD to relocate from US; HSBC AM expands EM debt team; Vantage FX hires from CGS-CIMB in Singapore; and more.
Financials and healthcare have been spotted as promising sectors, while several tech IPOs are on the way, including a $2.2 billion fintech firm and a GIC-backed e-commerce startup.
A strong recovery in the Asia Pacific private capital markets in 2021 sets up favourable hiring and compensation trends.
The $95 billion Korean savings will set up a separately managed account for real estate debt investment early next year in order to shorten decision-making and help it win deals in a crowded market.