How family offices aim to outsource to external managers

The large and fast-growing US fund house has poached an executive from Pimco to replace Carlo Venes after his promotion and relocation to head office.

The UK-based fund manager and Japanese trust bank have partnered on a joint-venture that aims to buy and improve multi-family buildings, a relatively novel approach in Japan.

Ostrum AM's head of Asia equity to leave; Mercer appoints research head for Asia; Heidrick & Struggles' head of financial services quits; JP Morgan AM shifts Taiwan CEO to China JV; Credit Suisse head of alts exits; Australia names assistant superannuation minister and more.

Axa IM loses senior equity manager; Harvest grabs fixed income head from Manulife IM; Allianz names Asia life and health CEO; GAM adds Australia insto head; Aberdeen Standard hires investment specialist in Australia; HP Wealth expands team; East Capital internally promotes Asia head; Capital Group appoints marketing director; and more.

Larger and smaller life insurers in Japan are looking to diversify globally to raise returns, but they face varying challenges depending on their particular circumstances.