Private credit might be less attractive than it was last year as investors rush into the market, but there are sweet spots to be found.
Rumours were also rampant that global boss, John Mack wanted to revamp the Asia leadership, and was particularly unhappy with the firmÆs China strategy. His solution to the China issue was to hire Wei Christianson from Citigroup. A longtime colleague, Christianson had followed Mack to CSFB, after having worked for him at Morgan Stanley.
And now it seems that the revamp of the Asia leadership is also being addressed with the news that Hans Schuettler has been appointed the new chief executive officer for Asia.
SchuettlerÆs appointment is being highlighted by Morgan Stanley sources as, ôadding extra bandwidthö to its Asia-Pacific management structure. The German banker is being relocated from Europe where he was the co-head of European investment banking, and country head for Germany û managing some of the firmÆs most important European investment banking relationships.
Schuettler, who joined Morgan Stanley in 1990, will have two reporting lines. One is to Morgan StanleyÆs co-president, Zoe Cruz, and the other is into Asia chairman, Alasdair Morrison.
Morrison, who previously held the joint roles of chairman and CEO for Asia, will give up the latter title on Schuettler's arrival. Morrison will, however, remain a member of Morgan StanleyÆs 19 person global management committee.
Mike BerchtoldÆs role as president for Asia-Pacific remains unchanged.
SchuettlerÆs position will see him based in Hong Kong and running the whole region, including Japan.
Regulators keep their eyes open on tightening insurance industry by introducing more detailed risk management requirements, which could bring pressure on smaller players.
China and India are more obvious choices for AustralianSuper to consider in Asia Pacific, but the super fund currently lacks the expertise and prefers to stick to the US and Europe.
CDPQ's Ivanhoe Cambridge hires ex-GIC real estate expert; NZ Super adds board member; Future Fund appoints chief people officer; BlackRock real estate CIO joins Singapore's Capitaland; AMP Capital hires MD for energy; Northern Trust AM names new CIO; T Rowe Price hires AU and NZ institutional head; Nuveen hires Southeast Asia institutional head; Citi names sustainability head in Singapore; and more
Investors are increasingly turning to private companies and private debt in their hunt for ESG alpha, but the age-old problem of transparency and due diligence remains