Korea Post names two new CIOs; M&G Real Estate replaces Asia CEO and CIO; Cbus names a people and culture executive; KKR MD Terence Lee quits; MetLife hires HK-based institutional and insurance head; HSBC makes trio of CIO appointments; CBRE account director transfers from HK; SC Lowy adds trader in London; and more.
Educated in Oberlin College and University of Cambridge, Srinivasan has worked for Sofaer Capital and Morgan Stanley in the past, where he was an absolute return fund manager prior to joining Allianz Global Investors in 2003. He has since rotated around AllianzGIÆs offices in Hong Kong, Bangkok and Singapore.
In a plan to raise its global competitiveness seven years ago, Allianz acquired a number of leading asset management brands, including PIMCO, NFJ Investment Group, Cadence Capital, RCM, Nicholas-Applegate and Opperheimer.
The mergers have led to constant re-branding exercises ever since, including the removal of the Dresdner brand from RCM Capital Management, formerly known as Dresdner RCM. However, the integrations have made Allianz one of the largest asset managers in the world with $1.76 trillion under management. Around $25 billion of this is in Asia where the firm employs 100 investment professionals.
SrinivasanÆs appointment is the latest large reshuffle for the group, following the hiring of Douglas Eu as regional CEO from JF Asset Management last August. In April, Eleanor Wan was appointed the new Hong Kong CEO after working as head of sales for AllianzGI.
Pimco names new Apac head; Hines expanding Japan and Korea teams; T. Rowe Price appoints wholesale and family office head; Odey's Brook AM lures another Newton exec for new EM fund; Complyport HK sees ownership change, renamed S2 Compliance; Rob Lance joins portfolio software startup to run Asia sales; Tokyo Stock Exchange names president.
With asset managers' profit margins increasingly under pressure as fees fall and costs and client expectations rise, more industry consolidation is surely coming. But how quickly?
In a recent webinar, AsianInvestor spoke to top experts on emerging market (EM) corporate debt to get a better sense of the opportunities, risks and rewards that investors should be familiar with. To continue the conversation, we followed up with panelists to further explore some key issues.
The Korean pension fund giant is venturing into timberland investment, and more asset owners are expected to follow suit as they seek diversification and sustainable investments.