The Dutch pension asset manager's Asia Pacific head of real estate says his team has just had one of its busiest years ever and that 2021 is looking similarly promising.
Her new boss, Andreas Mondovits, explains that UBS GAMÆs single biggest client, worldwide and regionally, is the private banking business at UBS. It is also the largest private bank in Asia in terms of assets under management.
Until now, UBS GAM serviced UBS Wealth Management across several product groups under MondovitsÆ supervision. His role is managing director for pan-Asia, meaning he is in charge of business development for Asia ex-Japan, ex-China. (James Hong runs the China business.) ôI lacked the time to do this as well as my other business roles,ö he says.
So this summer, UBS GAM decided to merge these various arms of client services in Asia into a single unit dedicated to UBS Wealth Management. Other teams look after other clients. But this required a senior, experienced leader. Enter Ching, with her institutional experience and high-profile role running InvescoÆs local office. The job involves not just client servicing but developing products for the private bank as well as conducting joint pitches with UBS Wealth Management to its high-net-worth clients.
A stickler for semantics would argue that going from country CEO to MD is a step down, but Mondovits says: ôThis is KerryÆs entry point to the UBS world. She has a good reputation and we want to cultivate more Asian talent. UBS Global Asset Management wants to grow in Asia-Pacific, and we havenÆt just said it, weÆve done it. And opportunities for someone like Kerry will grow in line with our organisation.ö
Ching left Invesco this spring. In response, Invesco restructured its local operation. Asia-Pacific CEO Andrew Lo had overseen her duties, but the firm then hired Desmond Ng from JF Asset Management for a new role as head of institutional business development for the region.
Sunsuper and QSuper appoints CIO for combined entity; State Street appoints heads of HK and Taiwan; Nothern Trust rebuilds Apac team; Manulife IM names emerging markets fixed income CIO; RBC Wealth Management hires four into HK; Lombard Odier hires two senior equity managers; Allianz Global Investors appoints Asia hand as equity CIO; and more.
Investors from China and the US are expected to continue buying assets in each other’s markets despite the blacklist of Chinese firms with military and surveillance ties.
Stronger government actions are needed to meet the Paris Agreement goal of limiting global temperature rise to 1.5 degrees, investors such as Hesta and CDPQ signed in a statement.
AsianInvestor explains why we chose the winners of the second half of our 2021 fund manager winners, by major local markets.