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
Wells joined Fidelity in 1996 and has more than 16 years of experience in fund management, both as a trader and portfolio manager. He was originally a fixed income portfolio manager for Fidelity in London. In 2002, he was relocated to Hong Kong to build out FidelityÆs fixed income team in Asia. Well's team currently oversees $2.8 billion in retail and institutional clientsÆ assets, including global bonds, US bonds and money market instruments.
Gordon says the firm will leverage Wells' Asian experience as Fidelity expands its product range in fixed income.
Prakash, a director of research for the past three years, will replace WellsÆs role in overseeing credit and quantitative research, trading, investment operations and directing investment teams in Asia. She has over 14 years of experience in with fixed income market in Asia. Prior to joining Fidelity in 2004, she worked at HSBC Capital Markets and Standard & Poors.
Separately, Michael Fong has been appointed to fill the new role as head of personal investment at Fidelity. Fong will be joining Fidelity from E*trade, where he was senior director and head of retail for Asia Pacific. In E*trade, he was responsible for sales, service, marketing and product development initiatives. Fong will assume a similar role at Fidelity, to expand its presence in the personal retirement solutions market in Hong Kong.
A 10-year veteran in investment sales, Fong had also worked for Citic Ka Wah Bank and TD Bank in Canada, Hong Kong and Singapore.
As of June 30, 2007, Fidelity International manages $290.9 billion of assets worldwide ex-USA and Canada, and has operations in 23 countries, including Japan, Hong Kong, South Korea, Singapore, Australia, Taiwan and India. It also has a representative office in mainland China.
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.