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
AustraliaÆs second largest bank announced a rationalisation of its institutional banking activities in Asia last November which included the winding up of its Tokyo-based securities company.
At the time, the bank axed 400 jobs in the region and also closed offices in Singapore, Korea and Malaysia.
The move to de-list from the Tokyo stock exchange is another phase in the rationalisation plan.
National Australia BankÆs chief executive officer, John Stewart, says the move will have no impact on the bankÆs retail business in Japan, nor its debt capital raising in the yen market.
ôJapan offers an attractive source of funding but listing on the TSE is no longer a requirement for raising funds in Japan,ö says Stewart.
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.
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.