Asia Pacific's family offices are a nimble bunch and never more so than when it comes to ESG where they're already proving to be ahead of the regulators.
Cai moves into the CEO role immediately, and he says his main job is to fulfil 2008 targets mapped out in 2004. ôOur financial targets aim to double the embedded value of the firm in that time,ö he explains.
Under Wilson, the firm launched the first multi-manager product for Hong KongÆs Mandatory Provident Fund scheme and integrated the acquisition of MLC from National Australia Bank.
Cai says he will need to buttress a number of areas, including distribution, client service and employee satisfaction. His most immediate priority next year is likely to be integrating the Winterthur insurance business that is in the process of being acquired. But having just gone through a smaller integration with the MLC business, Cai believes the firm wonÆt suffer a disruption.
The heated market for talent means keeping good people is a big challenge for the organisation. ôHow do we take a company from good to great, and motivate our employees in an environment where itÆs hard to retain talent?ö he says. He also intends to dedicate time to helping distributors work more efficiently and further penetrate new intermediaries, particularly brokers.
Cai has been with Axa since 1991, when he joined the groupÆs US operations and built a career as a financial advisor. He ran the groupÆs Western US business from San Francisco. He moved to Hong Kong in 2003 as general manager for career agency, where he brought his US experience to help professionalise the workforce. He now reports to Mark Pearson, AxaÆs regional CEO in Hong Kong.
Japan’s new Prime Minister Fumio Kishida is said to be mulling economic policies that could include moving the country away from Abenomics. Investors will be watching closely for any changes with implications for them.
Only 11% of Asia asset owners’ portfolios have been invested in environmental, social and governance assets or ESG-related strategies, says a new report.
Contrary to traditional perceptions, share pledge financing can offer high returns for investors. Borrowers using their shares as collateral for loans understand and value the equity.
Manulife appoints new COO; the head of investment stewardship at VFMC departs; June Wong joins Value Partners as president; State Street appoints head of Singapore and Southeast Asia, and head of Australia; BlackRock COO joins UBS AM as Australia and New Zealand country head; Pictet veteran named as Asia CIO; Nomura AM Malaysia head to step down; and more