Two Asia-Pacific heads of investment strategy recently departed their respective fund management firms, both of which have substantial Asian businesses.
Ngo Dong-Sinh left the post of chief strategist for emerging markets and Asia Pacific at BNP Paribas Investment Partners (BNPP IP) last month. He joined Crédit Agricole Private Banking (CAPB) this month as head of the advisory desk for Hong Kong.
In what is thought to be part of a regional reorganisation, Ngo’s predecessor, Sen Sui, has been promoted from his Hong Kong-based role of Asia head of markets and investment solutions.
Sui had managed a regional team of investment professionals based in Hong Kong. CAPB declined to comment on his new position, as it is not yet official.
He has been with CAPB since December 2005 and previously worked in the IT industry, at firms including IBM and Oracle in areas such as software design and client servicing.
Ngo’s role at BNPP IP will not be filled in its previous form, but the firm’s global balanced solutions team will determine house views on markets and asset classes. The team manages $64.1 billion in assets (as of September 30), with staff in Hong Kong, London, Amsterdam, Paris and Boston.
Alex Ng, BNPP IP's Hong Kong-based chief investment officer for Asia Pacific will continue to represent the firm’s investment views in the region, says a spokeswoman.
Ngo had held the Hong Kong-based role for almost five years, and joined the BNP Paribas group back in 1998, holding fund management positions since that time. Before that, he had worked for UBS since 1993 in equity analyst and fund management roles.
As at September 30, BNPP IP sourced $59.9 billion of its global $645.4 billion of assets from Asia Pacific.
Meanwhile, Paul Schulte recently exited BNY Mellon Asset Management, having only joined in August in Hong Kong, in what was a newly created position as Asia-Pacific head of investment strategy. He is understood to have left to return to his native US for personal reasons.
BNY Mellon AM, which sources $49.4 billion of its $1.36 trillion in globa lAUM from Asia Pacific, is thought to be seeking a replacement for Schulte, but declined to comment.
He was responsible for researching investment trends, market activity and economics in the region and communicating opinion and analysis across the group’s boutiques.
Schulte had reported to both Alan Harden, Asia-Pacific chief executive at BNY Mellon AM, and to Jack Malvey, chief global market strategist for investment management in New York.
Before joining the US firm he was global head of financial strategy at China Construction Bank International Securities.