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
As we reported on Tuesday, Joe Stevens, COO of the JV unexpectedly departed Goldman Sachs Gaohua for a sponsorÆs role at Standard Chartered. This was followed by an announcement from the firm that CEO, Bill Wicker, would be relinquishing his China responsibilities and returning to New York to assume a role in the natural resources group.
Naturally, the two changes coming within hours of each other suggest they are inter-related. It is speculated that Stevens was aware that he would not be offered WickerÆs job and chose to resign rather then continue as COO.
Ong has been co-president, Goldman Sachs, Singapore since 2004. He became a partner in 2000, which makes him one of the longest-serving partners in the region. Ong will step into WickerÆs shoes as both CEO of Goldman Sachs Gaohua and co-head of the investment banking division in Asia ex-Japan (with Mark Machin). Ong started at Goldman Sachs in 1993. Prior to that he worked with Chase Manhattan Bank, Prudential Bache Securities and Citigroup.
Ong will be replaced by Tim Leissner who has led investment banking services in Asia ex-Japan since 2005. Leissner will be co-president with Oral Dawe. Leissner joined Goldman Sachs in the M&A group in 1998. He has previously held the position of head of investment banking in Singapore and his move back to Singapore is widely seen as a natural succession in a region he is very familiar with. Earlier, Leissner had worked with Lehman Brothers and JPMorgan.
SGX’s new framework for Spacs will likely provide investors with a much-needed channel for direct deals, but the verdict is still out on whether it will bring liquidity to the bourse.
The asset allocation matrix is becoming more complex as investors look for new sources of returns beyond traditional asset types. How can investors measure and maximise returns in compounded portfolios?
When it comes to family offices, the generations don't always see eye to eye. For the younger generation, ESG concerns and tech plays are beginning to predominate.
Kwap property arm appoints CEO; VFMC names new CEO as Lisa Gray retires; MSIG Singapore promotes Mack Eng as CEO; Monroe Capital opens first Asia office in Seoul, hires head from Aberdeen; Vanguard Australia appoints new MD to relocate from US; HSBC AM expands EM debt team; Vantage FX hires from CGS-CIMB in Singapore; and more.