The largest retirement funds in the Netherlands and South Korea have formed a landmark partnership to focus on real asset mega-deals. Their investment heads tell AsianInvestor why.
At that time Parks had stepped down as CEO, but retained the chairmanÆs role. He was replaced as CEO by Gaby Abdelnour, who was transferred by JPMorgan from its European operations.
Parks, who has 30 years of investment banking experience and was formerly with Goldman Sachs, joined JPMorgan in July 2000 and moved to Asia in April 2001 û where he combined the chairman and CEO roles.
In a written statement on Friday, Parks said: ôI retire from the firm at a time of unprecedented opportunity for growth from its strong base across the region. I offer JPMorgan my best wishes for continued prosperity.ö
It is reckoned that Parks will remain in Asia, and there is considerable speculation about what he might do next. Some predict he will take a senior role at a private equity firm, capitalising on his broad relationships around the region.
Abdelnour, meanwhile, has been conducting whistlestop tours throughout the region that he is now running, including to Japan. Indeed, it is reckoned that one of AbdelnourÆs key priorities will be to upgrade the performance of the firmÆs Japanese investment banking business.
A JPMorgan source said there are no immediate plans to install a new chairman in the wake of ParkÆs resignation.
The US fund manager has recruited a sales head in Hong Kong from alternatives house Oaktree with a view to building a team and expanding its institutional client base in the region.
Following the launch of a new initiative, funds like Cbus and Australian Ethical explain how they are working to reduce their portfolio emissions and engage with investee companies.
Pent-up demand among Korean asset owners for overseas property is resulting in a rush for logistics deals, but there is less interest in office assets, even in prime locations.
The insurer explained the value of data-as-a-service (Daas) and the implementation challenges in a webcast hosted by AsianInvestor.