There is definite proof that sustainability-focused funds are outperforming their conventional counterparts. But some experts believe the traditional explanations for this are wrong.
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.
NZ Super appoints head of asset allocation; Sun Life adds new Asia CFO; Value Partners names deputy CIO for fixed income; Ex-CPPIB chair joins Singapore venture capital firm; Hines names global head of ESG; HSBC Private Banking names head of Asia coverage for Emea; GAM appoints associate director in Singapore; M&G Real Estate adds to Asia acquisitions team; and more.
To get the clarity they want to make informed portfolio decisions, asset owners and managers must now blend and adapt multiple sources of traditional and non-traditional data to create actionable insights, said speakers at a webinar hosted by AsianInvestor and IHS Markit.
The country's largest insurer Ping An set up a $62 billion green investment target by 2025. Several more players are also joining the hunt for sustainable assets.
The boss of Thailand’s second-largest pension fund hopes that proposed changes in the law will help her diversify more into overseas markets. She is particularly bullish on China.