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
Young, who will report to Colm McCarthy, BoA's President Asia, will be responsible for coverage of commercial corporate clients with operating subsidiaries in Asia. She will be based in Singapore.
ôBank of America has a strong reputation in Asia with a great team providing a very high level of service to its clients wherever they do business,ö says Young. ôIt is exciting for me to be part of such a clear goal and I look forward to the opportunities this initiative opens up for the bank to expand its business around the region as well as further solidify core client relations in the home market.ö
Young joins from HSBC in Singapore where she spent almost six years, most recently as senior vice-president and head of commercial banking. Prior to that she was head of e-business and marketing.
Before joining HSBC, Janet spent nearly four years at Philips Electronics, working in both Shanghai and Singapore.
She began her career in banking with OUB (now UOB) in 1984, where she spent six years. Following which, Young spent seven years with Security Pacific National Bank at which time it was merged with Bank of America.
ôThis is a new client initiative for Bank of America in Asia and so obviously an exciting one,ö says McCarthy. ôIt is a reflection of the success of the team we put in place earlier this year to service the Asian subsidiaries of our many Fortune 500 clients. We now want to provide the same high level of service to the Asian subsidiaries of our US commercial corporate clients who are increasingly investing in the Asian region.
ôJanet has a stellar record in developing and enhancing client relations, in particular in the small- to medium-sized enterprise area (SME) and commercial corporate client segment, and we are happy to have her on board. In the coming months, we shall be building on this initiative by hiring a team of experienced bankers across the region to work with her.ö
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.