Tokio Marine appoints new CEO for Asia region; Ben Rudd made CEO of Prudential Wealth Management; HKEX hires from Prudential; Samsung SRA appoints former KIC infra head as CEO; HSBC Asset Management appoints senior vice president; Morningstar names head of manager research for Europe and Asia; PGIM adds ESG lead for Europe and Asia; Apex Group adds Singapore managing director; and more.
The 50-50 joint venture, which will be named Standard & PoorÆs/CITIC Index Service, formalises an existing relationship between the groups.
According to S&P, the new joint venture ôwill develop new and innovative indices to meet the changing needs of domestic and international investors, and will promote financial innovation and global participation in ChinaÆs equities and fixed income marketö.
S&P president Kathleen Corbet says: ôWith ChinaÆs rapid integration into the global financial markets, we expect increasing demand for innovative Chinese investment products that meet global standards.ö
In March 2004 the pair launched the S&P/CITIC 50 A-Share tradable index and the S&P/CITIC 300 A-shares benchmark index, with the latter now claiming to have 13 companies and 19 funds using it to track performance.
The pair has since launched a number of other indices, including the S&P/CITIC China 30 Index, which aims to provide ôbest in class exposure to ChinaÆs economic potentialö by combining the 30 largest blue chip enterprises from the 250-plus Chinese stocks listed outside China.
Robert Shakotko, S&PÆs managing director of index services, says he hopes the S&P/CITIC series will eventually become the ôglobally-accepted yardstick by which Chinese equity markets are measuredö.
Signatories are advocating for a robust policy on plastic pollution amid concerns that states would support a less ambitious mandate.
The Covid-19 variant is unlikely to cause distress for investors banking on global recovery, but quarantine restrictions in Hong Kong are set to put the bite on any comeback.
China Life names Yuan Changqing as acting chairman; Future Super hires operations chief; China Life Franklin Asset Management CIO and deputy CEO leave; Willis Towers Watson has hired Kameswara Natakusumah as head of Indonesia; Prudential hires ex-Apac CEO for Allianz George David Sartorel as a non-executive director; Manulife IM hires into multi-asset solutions team in Asia; PineBridge Investments hires from BNY Mellon IM; and more.
The family office of Alibaba's co-founder likes to do its own hands-on due diligence and favours deals that can make a difference, rather than investments for the sake of ESG.