Tokio Marine appoints new CEO for Asia region; Ben Rudd made CEO of Prudential Wealth Management; HKEX hires from Prudential; Samsung SRA appoints former KIC infra head as CEO; HSBC Asset Management appoints senior vice president; Morningstar names head of manager research for Europe and Asia; PGIM adds ESG lead for Europe and Asia; Apex Group adds Singapore managing director; and more.
A former COO at the investment management business says the model was not profitable for Alliance, which had been planning to exit the venture for quite some time. Alliance will, however, hold onto its distribution portion, which is run separately from the Far Eastern venture, given that the brand is now one of the strongest in offshore investments on the island.
Following the formal acquisition, the fund venture will be renamed Deutsche Far Eastern Asset Management. It will be jointly owned by Deutsche Bank and the Far Eastern Bank, a subsidiary of TaiwanÆs Far Eastern Group û a conglomerate with business interests ranging from cement, hotel, construction to petrochemicals and an airline that has recently filed for bankruptcy protection.
Rex Chou, a former senior vice-president at Schroders Securities Investment Consulting in Taiwan, has been appointed as CEO of the new fund venture. Prior to Schroders, Chou held business development and sales roles at HSBC Asset Management and Fidelity in Taiwan.
Apart from building up a retail presence, Chou will be targeting outsourcing opportunities from the islandÆs $182.87 billion in assets of public funds and insurance conglomerates.
"There is considerable potential working with our partners to offer further choice and new investment opportunities for Taiwanese investors. This will include supporting the introduction of further innovative global funds and alternative investments through Deutsche Bank's market-leading asset management brands û DWS Investments and RREEF Alternative Investments," Chou says.
ôThe business aims to leverage the global investment and business management expertise and innovation of Deutsche Bank's asset management division as well as building on the well-established local platform and professionals of Far Eastern Group,ö he adds.
After two tenures, AsianInvestor's 2021 Standout CIO Jang Dong-hun looks back on the past six years at Korea's Poba with satisfaction.
Risks including property downturn and ongoing pandemic make for difficult investment decisions.
As a pioneer in the Australian super space, CSC continues to focus on core objectives while taking calculated risks in an uncertain macro-economic environment.
The Asset Management Awards seek to recognise outstanding achievements among Asia Pacific-based fund and asset managers. Entries are open from now until March 4, 6pm HKT.