Tokio Marine appoints new CEO for Asia region; Ben Rudd made CEO of Prudential Wealth Management; HKEX hires from Prudential; Samsung SRA appoints former KIC infra head as CEO; HSBC Asset Management appoints senior vice president; Morningstar names head of manager research for Europe and Asia; PGIM adds ESG lead for Europe and Asia; Apex Group adds Singapore managing director; and more.
As one of the best known prime brokers in Asia, he led the build-up of Morgan Stanley's prime broking unit over many years and is widely respected in the industry for his insights into the alternatives and hedge fund world.
During Baker's tenure, Morgan Stanley was a prime broking market leader in Asia and his team won AsianInvestor's award for 'Best Prime Broker' in 2004, 2006, and 2007.
Following the market uncertainties after the collapse of rival prime broker Lehman Brothers, hedge funds became jittery about having their assets with a securities company. In the following days, especially before Morgan Stanley's position was perceived to be stabilised by the news that it had converted into a bank holding company, it was rumoured that a substantial amount of hedge fund balances had migrated from Morgan Stanley to other prime brokers.
Along with nearly all firms on the street, Morgan Stanley is undergoing a personnel retrenchment process, one that is not limited to prime broking, and that will now continue to move down from managing directors through the other ranks. Prime broking, while it will endure as a hedge fund service, is going through a metamorphosis at present, and its entire product range, staffing requirements and general scope is under the microscope.
Weekly investor roundup: Cathay Financial expects rate hikes to boost returns; NPS' enlarged stewardship role faces pushback
Cathay Financial Holdings anticipates that interest rate increases will help boost profits in the coming year; Korea's National Pension Service meets protest from the business community after move to enlarge stewardship role; MAS bans crypto advertising to the general public; Japan's GPIF appoints managers for fund of funds mandate; GIC returns for Checkout.com's Series D funding; and more
Despite Evergrande's woes, Allianz is still bullish on Chinese property and infrastructure, although it has slowed down its investment process.
Case studies featuring global institutional investors’ best practices for setting climate action plans aim to encourage more to follow in their footsteps.
Signatories are advocating for a robust policy on plastic pollution amid concerns that states would support a less ambitious mandate.