Todd Prado joins First State after Janus exodus

Matt McKeith, former global head of equity dealing at First State, has been replaced by Prado, one of a raft of senior staff to leave Janus Capital in recent months.
Todd Prado joins First State after Janus exodus

After 11 years with US asset manager Janus Capital, Todd Prado started at First State Investments in Singapore on July 4 as global head of equity dealing.

He replaced Hong Kong-based Matt McKeith, who left in May. McKeith relocated to Hong Kong in February 2006, having joined First State in the UK in May 2001. AsianInvestor could not ascertain his next move by press time.

Prado oversees a 10-strong equity trading team at First State, with two in Singapore, one in Hong Kong and the remainder in the UK. He reports to David Dixon, global chief investment officer for Colonial First State (First State's parent company) in Sydney.

Prado has significant experience of trading emerging markets, says a First State spokeswoman. His most recent position at Janus was head of trading for the region based in Singapore. Before joining Janus, he was an equity trader at Fidelity Investments in Tokyo, and he has also worked as a currency options broker at Cantor Fitzgerald.

Janus has promoted Singapore-based Joseph Hodgkins to replace Prado and is seeking another trader in the Lion City to support him. In the meantime, Warren Rogers has relocated from Denver to Singapore to work with Hodgkins.

Prado’s move comes amid a raft of recent senior departures from Janus, following the January appointment of Augustus (Augie) Cheh as president. Cheh was previously Asia ex-Japan chief executive at AllianceBernstein.

Other senior Asia executives to have left Janus in the past three months or so in Asia include co-CEO Jack Lin; chief operating officer Fred Horsey; head of marketing Alvin Chiu; head of retail marketing Lesley Chen; head of legal Kim Chong; and compliance executive Carmen Kwan.

Lin is expected to take up a new post by autumn, while Chen and Chiu are thought to have taken up similar roles at Prudential Asset Management in Hong Kong, reporting to regional CEO Graham Mason. Prudential did not confirm their arrival by press time.

In London, Janus's Europe head Ric van Weelden and Michael Jones, head of European financial institutions and intermediary business, are also leaving the company. Jones, Lin and van Weelden were all internal candidates for the role filled by Cheh, AsianInvestor understands.

AsianInvestor could not ascertain the destinations of Chen, Chiu, Chong, Kwan, Jones or van Weelden, and Janus declined to comment on whether they had been or would be replaced.

Meanwhile, Gigi Chan, former chief financial officer for Asia ex-Japan at AllianceBernstein, will replace Horsey in the third quarter.

Louis Poon joined Janus in May as head of retail sales and financial intermediaries in Hong Kong, and an institutional distribution professional will start in the third quarter to work with Cheh and Ellen Li, Hong Kong-based sales director for Asia Pacific ex-Japan. Poon has not replaced anyone per se, says a Janus spokesperson.

Hiroshi Yoh arrived on April 1 as portfolio manager of Asian equity strategies and CEO of Janus Capital Singapore, having previously worked at Tokio Marine Asset Management.

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