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 move is KhannaÆs third in less then 12 months, a reflection more then anything of how hot job markets in investment banking in the country currently are. In November, 2005 Khanna resigned as country head and managing director of NM Rothschild (a position he had held since 2002) to take on the role of head of investment banking at Enam Financial Consultants. Khanna announced his resignation from Enam in June. Speculation has been rife that he was interviewing with Lehman Brothers, Credit Suisse and Merrill Lynch as all three are currently on a hiring spree in India. When contacted Khanna confirmed the move.
Chandra took over as sole head of investment banking at DSP Merrill Lynch when Rajeev Gupta left the firm in June 2005 to head CarlyleÆs private equity business in the country. Chandra is a career Merrill banker and is widely perceived as having established very strong relationships in the country which have stood Merrill Lynch in good stead in becoming one of IndiaÆs leading investment banking players. In December, 2005 Merrill Lynch reiterated its commitment to investment banking in India by increasing its 40 percent ownership interest in DSP Merrill Lynch to 90% with the stated intent "to continue to build its important presence as one of the leading securities firms in India".
A banker we spoke to speculated that ChandraÆs being moved out of this role - which he is reckoned to have performed very well - could signal that Merrill is keen to increase its principal investing in the country and now wants Chandra to lead this charge and replicate his earlier success. If this is the case Merrill will be following Goldman Sachs lead, which has already announced its intention to commit $1 billion to principal investing in India.
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%.
The enlargement of the Bond Connect scheme, announced on Wednesday (Sep 15), gives Chinese investors another option for allocating capital offshore.