Costello forced to backtrack on Future Fund comments

The recent departures include those of three segment chiefs for Asia-Pacific: the chairman for alternatives and heads of index strategy and of client relationships for factor strategies.

The Hong Kong fund house has laid off senior executives, including its Southeast Asia head and managing director for alternative products, as it moves to rationalise its business further.

Continuity in asset allocation and investment strategy is widely expected at the world’s largest pension fund as it replaces Hiromichi Mizuno with an experienced banker.

Barings's ex-head of sovereigns joins ETF firm; HSBC Securities Services gets new client head; AQR pares Asia sales team; KKR appoints Asia-Pacific tech investment head; CGS-CIMB hires chief investment strategist; EFG poaches IAM team from UBS; First State names head of investment product research; HSBC GAM has management reshuffle and more.

In a move that refocuses its product offering and institutional coverage, the US-based asset manager has pared its equity investment capabilities in Asia and the UK.