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
The new Pacific-Rim equity platform will be lead by Nigel Beattie and Yasuhiro Fujiwara, which Merrill Lynch have appointed co-heads. In their newly-created roles, both internal appointees will report to Jason Brand, president of Pacific-Rim global markets and investment banking group (GMI) and to Rohit DÆSouza, head of global equities and AmericaÆs global markets.
Beattie, previously MerrillÆs head of Pacific-Rim equity investor client group, will focus his attention on the Asia-Pacific area, while Fujiwara, its former head of Japan equity trading, will take responsibility specfically for Japan.
According to Merrill Lynch, by unifying its Pacific-Rim equity structure, it will be able to use resources more efficiently and this will result in the faster roll out of new trading platforms and marketing strategies. Merrill says it will also enable the bank to have broader regional correlation trading books.
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%.