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.
He is joining from Skandia Investment Management, where he had led institutional and international sales for its multi-manager and single-strategy mutual funds. Smith has also worked at Gartmore Investment Management and HSBC Asset Management (now called HSBC Investments).
He is filling a position, based in Singapore, that was vacated by Philip Levinson in December, who left to join competitor RREEF, Deutsche BankÆs real estate and infrastructure investment arm.
SmithÆs job is to raise capital from investors in the Asia-Pacific region for LaSalleÆs direct real estate and global-securities funds.
LaSalle now manages $6.2 billion of assets. Historically most of its asset-gathering took place outside of Asia, but in 2007, LaSalle attracted what it terms ôsubstantial new moneyö from Australia for both securities and private funds. It also has clients in Japan and Hong Kong, markets where it expects to grow its business, says Celia Jennings, head of global client services in London, to whom Smith reports.
There are no immediate plans for additional hires in Asia, however.
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.
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