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
Cordes returns to a company where he spent five years working out of the London office as head of leveraged funds in the 1990s, and was responsible for raising seed money for hedge funds sponsored by the company. His knowledge and experience of alternative investments will be brought to bear on this new role.
ôThe products created by the asset management division include cash management and multi-asset portfolios,ö Cordes says.
ôWe have fund of funds in the alternative investment arena as well as traditional asset management, including sector and regional funds. We also have strengths in private equity, real estate and hedge funds, and want to offer a broad range of products. But it is fair to say that alternatives will be a new emphasis,ö he adds.
As for plans on the distribution front, Cordes stresses that Credit Suisse has a pan-regional approach. ôAustralia is a well-developed market and we have had a presence there on the retail and institutional side for quite a while,ö he explains.
ôWe are rebuilding in Japan and have two joint ventures: Woori Credit Suisse Asset Management in Korea and ICBC Credit Suisse Asset Management in China. In Singapore, Hong Kong and Taiwan we plan to develop institutional clients and work with distribution partners.ö
Tony Iliya, Credit SuisseÆs new vice-chairman for asset management, has been charged with developing both traditional and alternative products in the Asia-Pacific region. He was appointed three months after Clayton Coplestone, director and head of business development Asia ex-Japan for Credit SuisseÆs asset management division, left the company. Iliya's more senior role should raise the profile of the business in Asia.
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.