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
The wealth management sales team designs structured products which the bank sells to its retail and private banking clients. The products can be in the form of structured notes, capital guaranteed funds, structured deposits and yield enhancement equity-linked notes. The team also specialises in tax, regulatory and compliance issues.
According to an HSBC spokesperson, wealth management sales is expanding and the bank is restructuring and adding new positions to strengthen this business in the Asia-Pacific region.
Hung has extensive experience in wealth management and structured products. In this newly created position he will be responsible for managing the intermediaries business for Greater China and Korea, and will focus particularly on expanding HSBCÆs franchise and third-party retail distribution channels.
Hung will be based in Hong Kong and will report to Ken Sue, managing director and head of wealth management sales, Asia-Pacific.
ôThe appointment of Gary demonstrates our dedication to building a leading platform for our wealth management business in the region. His expertise will be a tremendous asset for HSBC and will enhance our ability to deliver value-added solutions and products to our clients,ö says Sue in a written statement.
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.