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
This is a new position that will involve obtaining licenses for insurance and pensions business, says Choy, who declined to provide details of the firmÆs ambitions, other than the legal fact that the firm will require a domestic partner.
To date, HSBC Insurance has no presence in the mainland, although the group owns a 9.91% stake in Ping An Life Insurance. It also owns a 20% stake in Bank of Communications, and a 49% stake in HSBC Jintrust Fund Management.
David Fried has transferred from London to assume the insurance business regionally, in an expansion of ChoyÆs previous role, which was Hong Kong-focused. Fried has previously run HSBC InsuranceÆs business in the United States, as well as global business development from London.
Choy has overseen HSBC InsuranceÆs dominant position in the Hong Kong Mandatory Provident Fund market, although the firmÆs MPF and pensions strategy was initially developed under David Humphreys, who now runs a boutique investment firm, NewHaven Capital.
Fried will also oversee not just the insurance business, but also insurance brokering and retirement services. A spokeswoman says business heads for these units have yet to be finalised. Choy now reports to Mike Smith, Asia Pacific CEO at HSBC Group.
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.
The asset allocation matrix is becoming more complex as investors look for new sources of returns beyond traditional asset types. How can investors measure and maximise returns in compounded portfolios?
When it comes to family offices, the generations don't always see eye to eye. For the younger generation, ESG concerns and tech plays are beginning to predominate.
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.