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.
He will be responsible for ensuring that DeutscheÆs existing prime brokerage clients in Japan get access to their products and will handle capital introduction.
He will report locally to Tamio Honma, head of equity and financial institution sales in Japan, and regionally to Harvey Twomey, the Asian head of global prime finance sales and the hedge fund capital group.
"The hedge fund industry in Japan has been through a far longer period of consolidation than other markets," says Twomey, who was also the proud recipient of AsianInvestorÆs trophy for best capital introductions specialist in our 2008 Service Provider Awards. ôHowever, 2008 was actually a better year for many Japanese funds than any year since 2005. The quality of managers running Japanese strategies is high and most have capacity. I am optimistic for hedge funds in Japan this year and Masa is well-placed to continue building our leading presence in this market".
It is rumoured in the market that with Twomey in the cockpit, Deutsche in Asia has been one of the beneficiaries of the migration of hedge fund balances away from the broker/dealers post-Lehman BrothersÆ collapse.
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