The multi-asset investment space in Asia has seen several major personnel moves this month, reflecting soaring demand – and pay – for talent in this popular sector, AsianInvestor can reveal.
Aberdeen Asset Management and Franklin Templeton Investments have added to their teams, while Credit Suisse Private Banking and Schroder Investment Management have seen senior departures.
Franklin Templeton has just hired Simon Coxeter in Singapore as its first Asia head of investment solutions. The company previously ran multi-asset solutions from its headquarters in San Mateo, California, said a spokesman for the firm.
Before joining Franklin Templeton, Coxeter spent seven years working for Mercer in Singapore, as principal in charge of evaluating equity and multi-asset strategies. He left on April 7 after seven years with the investment consultancy.
Mercer has since hired Adrian Worth on April 20 as a manager research executive in Hong Kong. He will assist in the research of multi-asset strategies across the region in addition to covering Asian hedge funds.
Worth was previously an analyst at Hong Kong-based private equity firm Cassia Investments. He has also worked in hedge fund research at investment consultancy Cambridge Associates.
Meanwhile, Julien Lepine joined Aberdeen this month as senior investment specialist for multi-asset and solutions for Asia. This is a newly created role, a spokesperson told AsianInvestor. Lepine will report to Alexis Ng, Asia-Pacific head of distribution.
Lepine was previously senior investment strategist for Asia Pacific in the investment solutions group at State Street Global Advisers, where he conducted research focused on building multi-asset class solutions. SSGA did not provide say by press time whether he had been replaced.
Lepine will work with Irene Goh, Asia head of multi-asset solutions, whom Aberdeen hired from Alliance Bernstein in May last year to start building the team.
Meanwhile, Vincent Chan, Asia head of multi-asset product strategy at Schroders, will leave the firm in June to pursue other opportunities, said a spokeswoman. He had joined in Singapore in January 2016 from local insurer NTUC Income. AsianInvestor was unable to confirm his next destination.
Schroders is seeking a replacement, added the spokeswoman, and in the meantime Chan's responsibilities will be handled by Garth Taljard, London-based head of multi-asset management.
Taljard was formerly Asia head of multi-asset product, but relocated to London in November to take on his current role. Chan had led the multi-asset product efforts in the Asia region following Taljard’s transfer, said a spokesperson.
The wealth management industry is also seeing multi-asset staff moves.
James Leung, until this month Hong Kong head of multi-asset class solutions at Credit Suisse Private Banking, has left. The bank did not comment by press time on whether he had been replaced.
Prior to joining Credit Suisse in October 2015, Leung spent seven years as a portfolio manager at UBS in Hong Kong. He had also worked for fund firms SEI Investments, GAM and Axa Investment Managers.
In another recent move, Pictet Asset Management this month hired Andy Wong from Invesco as its first multi-asset specialist in Asia.
Global fund managers are looking to boost their local multi-asset capabilities in the region and are offering salary rises of 20% to 40% to lure the right candidates, said recruiters. This reflects the limited supply of experienced solutions executives.
Firms are increasingly looking to tailor bespoke portfolios for clients rather than simply push existing products, and are seeking individuals who can talk to clients and drive sales.