Costello forced to backtrack on Future Fund comments

The new appointee, who previously ran Asia insurance coverage for JP Morgan Asset Management, will be supported by another recent arrival.

Aberdeen Standards adds Japan property head; Munich Re names new Greater China CEO; Investec shuts HK wealth business; HSBC non-committal on potential Asia layoffs; JLL replaces Singapore capital markets head; HSBC PB poaches from Credit Suisse, and more.

Hong Kong's incoming solvency rules for insurers will have a big impact on their fixed income portfolios just as they will on their higher-risk asset holdings, warn industry experts.

China's second-largest life insurer also upped its investments in a selective number of stocks, according to its latest interim results.

The world's biggest fund house is making changes to its management and sales setup in Taiwan after a sharp fall in its assets under management there since end-2017.