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
Courtis, who was hired into Goldman in 2000 by John Thornton, was previously Deutsche BankÆs Asian chief economist and strategist. At Goldman he was one of three vice-chairmen in Asia (alongside Hsueh Sung and Carlos Cordeiro) and specialized in talking to GoldmanÆs key clients about macroeconomic policy issues.
Courtis hit the headlines early last year when he objected to CNOOCÆs attempted bid for Unocal. Courtis was a board member of CNOOC and disagreed with the acquisition of the US oil firm.
However, what made the situation unusual was that Goldman was advising CNOOC on its bid, which hence pitted the investment bankÆs M&A strategy against the vice-chairmanÆs opposing view as an independent director. Courtis eventually recused himself from board votes on the bid. In the event, CNOOC lost out to ChevronTexaco. (CourtisÆs place on the CNOOC board was also something of an anomaly since Goldman had put in place a policy that its bankers cannot sit on company boards to avoid precisely such sensitive situations.)
Courtis, who is often quoted in the media for his economic views, is rumoured to be setting up his own consulting company called Kenneth Courtis & Associates.
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.