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
From its Singapore offices, Kaul will report directly to Ashok Vaswani, CitiÆs chief executive officer of global consumer banking, Asia-Pacific. Kaul will also continue his former role as regional head of CitiBusiness, the groupÆs offering that targets small and medium-sized enterprises.
To his new role, Kaul brings over 20 years of banking experience, which spans CitiÆs corporate and investment bank and its consumer bank. Over his time at the bank, he has held roles in transaction banking, cash management, Citiphone, non-resident Indian business in the US, Latin America international personal banking and e-solutions.
Malhotra recently left the bank to assume the newly-created role at Merrill as managing director and head of global private client group, India. Based in Singapore, Malhotra will be responsible for global private client group's onshore operation in India as well as its non-resident Indian (NRI) business. For Citi, he also held a number of senior positions at the same firm, including global head of non-resident Indian business in London and the Dubai-based role of area director for CitiÆs Middle East and non-resident Indian business.
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.
The fund's 29.6% returns marked its best ever and exceeded its reference portfolio, which has 80% allocated to equities, by 1.73%.