There is definite proof that sustainability-focused funds are outperforming their conventional counterparts. But some experts believe the traditional explanations for this are wrong.
The bank says the appointment ties in neatly with first-quarter expansion plans to roll out third-party clearing services for equities in Hong Kong, Singapore and Japan.
Mike Sleightholme, managing director and head of direct custody and clearing for Asia Pacific at Citi, says Williams has been appointed to oversee those expansion plans.
"The regulators and exchanges are allowing third-party clearing for the first time in this region," Sleightholme explains. "This arrangement offers new possibilities for exchange members who don't want to run their own back-office infrastructure. Via third-party clearing they can access these markets more easily and on a variable cost basis. As a result we see a lot of demand from brokers and banks."
Williams replaces Mike Drumgoole who left three months ago to join SetClear in Singapore, a new company of CLSA Group that offers trade settlement and agency-clearing for buy-side investors and international broker/dealers.
With 15 years experience under his belt, Williams previously headed up custody and clearing operations at rival Deutsche Bank in Hong Kong. Sources at the German bank say he has not yet been replaced.
For Williams, the move also represents a return to his beginnings: his career launched in London with Citibank, providing global custody services to insurance and reinsurance clients.
Investors can still find spread premiums in niche private debt, with the asset class's prognosis looking strong, said a keynote speaker at AsianInvestor’s latest summit on Wednesday.
AsianInvestor details the second part of our marquee award winners for 2021, which includes the standout ESG adviser and also the asset manager of the year.
AsianInvestor reveals the first half of our marquee winners for this year's Asset Management awards, including best asset service provider and top alternative fund houses.
The number of millionaires in mainland China grew by 35% in 2020, while the number of millionaires in Hong Kong fell by 7%, according to a new report from the private bank.