In new statements on the extent of greenwashing in the fund management industry, Desiree Fixler highlights some uncomfortable truths about sustainable investing.
Under the business recalibration, the Dutch bank will shift its centre for all structuring in Asia from Singapore to Hong Kong, while also establishing a new structured sales team in the Special Administrative Region. The formation of a structured sales team, to be finalised before the end of the second quarter, will aim to capitalise on growth potential in both retail and institutional clients in the North Asia region.
In its GFM business, Donal Galvin has accepted the role of division head for the Asian region. In what is a newly created post, he will assume responsibility for RabobankÆs financial markets operations in North and South East Asia, India and Japan and report directly to the firmÆs head office.
He will make the move from Singapore to Hong Kong in July, and will draw on similar responsibilities held in the Lion City. Prior to the Singapore role, Galvin was treasurer of Rabobank International in the Netherlands and also held responsibility for the emerging financial markets business.
His resume also includes stints for Salomon Brothers in its treasury department and at Citibank in a risk management role. Both positions were based in London.
Also joining the Hong Kong office as head of Asian structured sales is John Lim. In his new post, Lim will oversee the development of client relationships for the placement of structured products.
Lim heads to Rabobank from Standard Chartered in Hong Kong where he was head of fixed income for North Asia for four years. While at this firm he helped develop its presence in local and G-3 currencies bond and credit derivatives markets.
Outside of Standard Chartered, Lim has worked at Chase Manhattan Bank as managing director. He has also held posts at JPMorgan, Morgan Stanley and at the University of North Carolina as a teacher of investment banking.
At Rabobank, he will report directly to Galvin in the Hong Kong office, which the firm says it is likely to expand in the coming months.
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Actively managed funds were also not found to have better odds of higher returns than more passive funds.