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.
Lehman has also announced simultaneously that Hong Kong shares can be traded via its Liquidity Cross dark pool system.
LehmanÆs India business is run by Tarun Jotwani. India came under the spotlight in LehmanÆs spring quarterly earnings announcement when the value of an investment in KSK Energy Ventures Limited, an Indian power company operating three power stations, was marked up from its $86 million purchase price a mere six weeks earlier to nearly $600 million. Analysts marvelled about the dizzying increase in value-added in such a brief time.
In other Lehman news this week, Richard Norris of the prime broking department is moving to Singapore where he will head Singapore sales and regional prime broking consultancy. In June, Norris competed in the Gobi March, a 150-mile race across the Gobi Desert, where he finished in a high position.
Last, but not least, Jasjit "Jesse" Bhattal, CEO of Lehman Brothers Asia-Pacific and the guiding light of Lehman Brothers Asia for the last decade, will shortly be returning to live in Hong Kong where he will continue in his current role. As head of investment banking he spent much of the 1990s in Hong Kong with Lehman, reporting to then Asia-Pacific chairman Dan Tyree, but has since been based in Tokyo. Lehman declined to comment on the reasons behind the relocation.
China Life names Yuan Changqing as acting chairman; Future Super hires operations chief; China Life Franklin Asset Management CIO and deputy CEO leave; Willis Towers Watson has hired Kameswara Natakusumah as head of Indonesia; Prudential hires ex-Apac CEO for Allianz George David Sartorel as a non-executive director; Manulife IM hires into multi-asset solutions team in Asia; PineBridge Investments hires from BNY Mellon IM; and more.
The family office of Alibaba's co-founder likes to do its own hands-on due diligence and favours deals that can make a difference, rather than investments for the sake of ESG.
The Federal Reserve is now expected to hike interest rates as early as March and fed funds markets are pricing in up to four hikes in 2022.
The stock’s promising performance stands in sharp contrast to the less fortunate fates of other Chinese companies that have been affected by government clampdowns.