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
Answering to him will be James Pearson and Linda Wong, who head up commercial and consumer banking in China respectively, both with the title of MD.
Qiu used to be MD and Chairman at Credit Suisse in the 1990s before setting up his own firm, Q Capital. He has spent five years in China working on M&A advisory, principal investment and private equity and reportedly has a wide network of contacts.
Some observers speculate that the Dutch bank is using the hire to take aim at private equity and principal investment, given the boom in the sector. Qiu will complement ABNÆs already healthy M&A advisory service, which recently saw the bank advise Chinese electrical appliance maker Gome on the buy-in by Warburg Pincus. The bank also advised SAB Miller during its takeover attempt of Harbin Brewery two years ago.
Sources close to the bank say that the hope is that the industry experience Qiu has gained in China over the past few years running his own firm will combine with his investment banking experience to bring valuable strategic input to ABN.
Qiu will remain chairman of Q Capital, but day-to-day management of the firm will be carried out by CEO Cathy Zhang, a well regarded former Hong Kong banker. Qiu has degrees in computer sciences from NYU, electrical engineering at Cooper Union University, a further degree from Ohio State University and a Harvard MBA.
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.
The fund's 29.6% returns marked its best ever and exceeded its reference portfolio, which has 80% allocated to equities, by 1.73%.