MAS names sustainability head; Malaysia’s EPF appoints COO and CFO; GIC PE head for SEA leaves; State Super hires new exec; Hesta appoints chief growth officer, chief Debby Blakey appointed to corporate governance board; ex-BlackRock exec joins IQ-EQ in Singapore; HSBC AM builds direct real estate team; ex-Vanguard head of distribution joins LGIM; Sanne names Singapore head; and more
Since June, 2005 Hanning had been in charge of one of Morgan Stanley's most profitable industry groups: the general industries group (GIG). Hanning took over GIG when Morgan Stanley lost Sheldon Trainor to Merrill Lynch. Hanning moved to Hong Kong (from Sydney) at the end of 2004 when he became Morgan Stanley's regional head of M&A (to replace Gokul Laroia who moved to a capital markets role). Prior to that he had been head of Australian investment banking. At Morgan Stanley Hanning was in charge of the M&A portfolio for only six months as TrainorÆs departure precipitated a shuffle of portfolios. Hanning became a managing director at Morgan Stanley in December 2002.
Angus Barker, who currently heads M&A for UBS, will be moving on to a financial sponsors role heading private equity coverage in the region. Barker is a veteran at UBS, with the firm since 1990 and in Asia since 1998. His move corroborates the potential investment banks envisage in the private equity product in the region.
Hanning's hire comes as part of an ongoing effort by UBS to boost its standing in Asian M&A - where its franchise has always been relatively weaker than in the equities and debt areas. The arrival of Hanning - who comes from a firm that has traditionally been one of the top M&A houses in the region - is viewed by marketwatchers as a serious statement of intent.
It is not clear, on the other hand, who will replace Hanning as head of GIG at Morgan Stanley. But his departure - which comes on the back of several key departures earlier in the year - will be viewed as a blow.
The AU$85 billion ($61.6 billion) Australian super fund has some exposure to indebted property developer Evergrande. Meanwhile, China’s construction finance is part of its core strategy in real estate.
Investors are seeing the risks, but also the opportunities of the logistics sector. Warehousing their fears for the moment, they can see it's a good conduit to high-growth assets.
Insto roundup: GPIF staff say J-Reits more attractive than traditional assets; Hong Kong's strict Spac criteria
EISS Super hit by another scandal; China's CSRC launches consultation on disclosure requirements for new BSE securities; Hong Kong issues consultation paper on Spacs; New World Development partners with China Taiping to focus on Greater Bay Area projects; GPIF employees say Japanese Reits have grown more attractive; Taiwan's BLF invites bid for $1.7 billion mandate; and more
SGX’s new framework for Spacs will likely provide investors with a much-needed channel for direct deals, but the verdict is still out on whether it will bring liquidity to the bourse.