The Canadian pension fund plans to increase its allocation to the region from 10% to 15% over the coming four years, even as its total assets under management rise.
Under the leadership of Barend Janssens as head of Fortis Private Banking Asia-Pacific, the members of the new management team, who will start on January 1, will comprise the following: Hans Diederen, regional head of Greater China; Lee Chang Tze, regional head of Southeast Asia; Hassan el Nahas, regional head of the Middle East (effective April 1, 2009); Marc de Natris, head of brokerage management; Solange Rouschop, head of products and solutions; Seah Li Li, chief credit officer; Samir Dewan, chief administrative officer; and Peeter Chris æt Hart, head of marketing and sales.
ôWe have an excellent line-up of talent with a great depth of expertise who aim to provide outstanding service to our clients," says Janssens. "I am confident that this team will drive and realise the ambition and potential of the future combined private bank.ö
The bank, in a tongue-and-cheek view of its new line-up, noted that they have collectively accumulated more than 150 years of experience in leading markets such as Hong Kong, Singapore, Dubai, New York, London and Amsterdam.
After the integration is completed, Fortis in Asia will have 860 employees across five countries dedicated to private banking and managing a total of $30 billion of client assets and liabilities.
The integration of the businesses in Singapore, Hong Kong and China is expected to be completed by January 2009, Taiwan at the end of the first quarter of 2009 and the United Arab Emirates at the end of second quarter of 2009.
The integration and above appointments are subject to regulatory approval.
Future Fund internally appoints deputy CIO for portfolio strategy; CPPIB promotes Suyi Kim to run global private equity; NPS extends CIO term for second time; Willis Towers Watson appoints Australian investments head; Knight Frank promotes Apac director to run global capital strategies; Natixis Investment Managers names head of distribution for Emea.
Institutional investors are unfazed by the country's latest round of regulatory changes, saying they will focus on new sectors within it rather than reduce their overall exposure.
As central banks around the world hold record levels of reserves in Chinese renminbi, experts are split on whether the currency will be a rival to the US dollar.
Investors and consultants have called for greater disclosure of ESG information by Asian real estate fund managers even as ESG reporting in Asia shows signs of growth.