ESG is no passing fad, as more investors are convinced that alpha can be found in ESG and regulators continue to introduce rules to lift ESG standards.
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.
In its second annual sustainable investment report, the sovereign wealth fund says it invested $1.79bn in ESG bonds. Experts say asset owners next need to consolidate their standards.
Senior executives at the Taiwan financial group and Canadian pension fund believe that companies have to make an ESG transition, and may not have a choice in a few years.
Record low borrowing costs in Australia are feeding demand for the country's real estate, with domestic and global investors raising their allocations into the sector.
Experts have a diversified view on the appeal of private assets across the region, but one thing's for certain - inflows are rising, particularly into China and the US.