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
He will run the regional effort for the sovereigns-and-supranationals business unit that was first assembled in April under the leadership of Cynthia Sweeney Barnes, London-based global head. He also reports locally to Au King-lun, director and head of institutional business.
Au explains HSBC as a group has always worked for clients such as central banks and supranational organisations, but the new unit is meant to give this work strategic focus. It will involve coordinating not only with various parts of HSBC Investments, but also the relationships developed by the bank.
ôThis will allow us to provide services ranging from treasury to wealth management for central banks and other major investment groups,ö says Shum. His team will be able to sell products and ideas not just from HSBC Investments, but also the bankÆs treasury desk and from affiliated specialist managers such as HSBC Halbis Partners (active fund management and hedge funds) and Sinopia Asset Management (structured products). These businesses manage a combined $347 billion worldwide.
HSBC now joins a growing number of fund managers building teams dedicated to the fast-growing and enormous sovereign wealth funds, following the likes of Goldman Sachs Asset Management, JPMorgan Asset Management, Morgan Stanley Investment Management and independent fund houses such as Schroder Investment Management.
Shum is on the lookout for people to join his team in areas such as client service and relationship management. One driver to setting up a dedicated team for these clients is the commitment to training that is required.
Sweeney Barnes is handling Europe and the Mena (Middle East and North Africa) region, while the firm is still looking for ShumÆs counterpart for the Americas.
Shum joined Franklin Templeton in the summer of 2004 and rose to become managing director of its institutional business in the region. Prior to that he was an investment consultant at Mercer, first in Toronto and then in Hong Kong, where he became the senior consultant.
The AU$85 billion ($61.6 billion) Australian super fund has some exposure to indebted property developer Evergrande. Meanwhile, China’s construction finance is part of its core strategy in real estate.
Investors are seeing the risks, but also the opportunities of the logistics sector. Warehousing their fears for the moment, they can see it's a good conduit to high-growth assets.
Insto roundup: GPIF staff say J-Reits more attractive than traditional assets; Hong Kong's strict Spac criteria
EISS Super hit by another scandal; China's CSRC launches consultation on disclosure requirements for new BSE securities; Hong Kong issues consultation paper on Spacs; New World Development partners with China Taiping to focus on Greater Bay Area projects; GPIF employees say Japanese Reits have grown more attractive; Taiwan's BLF invites bid for $1.7 billion mandate; and more
SGX’s new framework for Spacs will likely provide investors with a much-needed channel for direct deals, but the verdict is still out on whether it will bring liquidity to the bourse.