Weekly roundup of people news, April 29

Investec launches HK wealth unit; Kong exits StanChart: reports; Swiss Asia adds PM, funds; RBC WM loses North Asia head; BSI shuffles heads again; HSBC appoints Malaysia market head; Vontobel adds RM; HK expat head leaves Pictet; MUFG promotes in HK; UBS targets 100 Kowloon staff; Cambridge Associates replaces CEO.
Weekly roundup of people news, April 29

Investec launches wealth business in Hong Kong 
Investec Wealth & Investment, part of South African asset manager Investec, has launched a wealth management business in Hong Kong as part of a plan to diversify this division internationally.

Catherine Kirchmann has been named divisional director and head of the wealth and investment business in Hong Kong.

The unit offers discretionary and advisory investment management to professional investors and will target affluent Chinese and expatriates in Hong Kong.

The company said the wealth and investment unit had invested in a central research function comprising a team of analysts covering equities, fixed income and collective investments. 

Stella Kong exits StanChart Private Bank: reports
Standard Chartered Private Bank has reportedly seen its deputy regional head of private banking for Greater China and North Asia depart.

The bank declined to confirm the departure of Stella Kong, and AsianInvestor was unable to ascertain her next move.

Kong had joined StanChart in 2010 after two years as vice-chairman for Greater China at Sarasin Rabo Investment Management.

Before joining Sarasin, Kong was head of private banking for China at ABN Amro. She first joined ABN Amro in 1999 as private banking head for North Asia. Kong has also worked for Deutsche Bank and UBS.

Swiss Asia adds fund manager, new strategies
Singapore-based asset manager Swiss-Asia Financial Services has added new funds to its platform and hired Wen Zhang-Goldberg, formerly head of emerging markets at Carmignac Gestion, to run one of them.

It also plans to add more staff in the third quarter of 2016 and by the end of the year will have added six more strategies to its hedge fund platform.

Swiss-Asia and French fund firm Twenty First Capital have signed a memorandum of understanding to become sub-investment managers of the IndiAsean Fund. Wen Zhang-Goldberg has been hired as portfolio manager of the strategy, which invests in equities listed in India and Asean.

Zhang-Goldberg had been head of emerging markets at French fund house Carmignac Gestion. In early 2008 she left the firm to take time off from the financial markets to pursue academic research and a PhD.

Meanwhile, Swiss-Asia has agreed a to manage Credence Global Fund, formerly run by Splendor Capital Management (HK). The strategy has $150 million in AUM, eight years of audited track record and annualised performance of 18.9%.

Swiss Asia chief investment officer Huang Ruhong, assisted by head of trading Iris Huang, will manage the fund.

In line with expanding the fund platform in Singapore and Hong Kong, Swiss-Asia hosts capital introduction events in both cities. The firm hosted its first cap intro event in Singapore in April this year. 

Swiss Asia has S$2.5 billion ($1.9 billion) in AUM, with 71 staff across Singapore and Hong Kong.

RBC WM’s head of North Asia departs
RBC Wealth Management, part of Royal Bank of Canada, has confirmed the departure of Michael Yong-Haron from his role as head of North Asia business in Hong Kong on April 27.  

Barend Janssens, head of RBC Wealth Management for Asia, has taken over Yong-Haron’s responsibilities on an interim basis, including overseeing a team of 17 relationship managers in Hong Kong.

Yong-Haron had joined RBC WM in 2014 after 10 years with Credit Suisse.

In March, RBC WM appointed Tho Gea Hong as head of Southeast Asia from EFG International, where she was deputy CEO for Southeast Asia as reported. Tho replaced Grace Barki, who is now managing director and senior private banker covering Southeast Asia at Pictet Wealth Management.

BSI names acting Singapore chief
Management changes at Swiss private bank BSI continues as its takeover is pending by rival Swiss bank EFG International.
BSI has appointed Renato Cohn as acting CEO for Singapore until the closing of the merger with EFG. 

Cohn replaces Raj Sriram, who had been only been promoted to Asia CEO in early March following the exit of Hanspeter Brunner. The bank said Sriram was leaving for family reasons.

Cohn is a member of the group executive board of BSI and responsible for the development of the ultra-high-net-worth-investor segment. He continues to report to Stefano Coduri, group CEO.

HSBC Private Bank appoints Malaysia market head 
HSBC Private Bank has appointed Chris Harwood as market head for Malaysian based in Singapore, reporting to Sandeep Sharma, head of global private banking for Southeast Asia.

With 15 years’ experience with HSBC, Harwood was previously head of intra-group business development and private wealth entrepreneurs for Southeast Asia. 

HSBC did not provide comment by press time on whom Harwood had replaced and who would replace him in his previous post.

Vontobel hires another from CTBC
Swiss firm Vontobel Wealth Management has hired another former CTBC private banker, with Joannes Ho joining as senior relationship manager in Hong Kong.

Ho, who took up the post on April 25, reports to Alex Fung, Vontobel WM's CEO for Asia Pacific.

Reporting to Ho will be Christine Chen, who moved in March, also from CTBC, to become a senior relationship manager.

Ho was Hong Kong-based director at CTBC covering high-net-worth clients in Greater China. Before that he spent 10 years covering Greater China, Japan and Singapore at Swiss bank EFG.

CTBC did not respond to requests for comment on Ho's departure or his replacement.

Pictet WM loses HK head of British expat business
Pictet Wealth Management’s head of British expatriate business in Hong Kong has resigned. A spokesperson confirmed that James Hughes had left but declined to provide more information.

Hughes had joined Pictet in 2014 from HSBC Private Bank, where he had been a senior private banker. 

MUFG adds deputy CEO in Hong Kong
Mitsubishi UFJ Securities (HK) has promoted Dong Nam to the new position of deputy CEO to support Yasutaka Suehiro, who started today as head of Asia and CEO of MUFG (HK).

Nam, who reports to Suehiro and is based in Hong Kong, also takes up his new duties today. He retains his previous role as head of credit trading and sales for Asia, a position he had held since 2010.

Suehiro's appointment was announced in January, when he was deputy CEO of the US business of Mitsubishi UFJ Securities, 

Trent Hagland, previous head of Asia, is returning to Australia for personal reasons, but will join the boards of Mitsubishi UFJ Securities (HK) and Mitsubishi UFJ Securities (Singapore).

UBS targets 100 staff for new Kowloon office
UBS Wealth Management officially opened its new office in Hong Kong’s Kowloon district today (April 29), where it recently added another floor and plans to have 100 staff in place by the year-end. 

UBS WM had Sfr272 billion under management in Asia Pacific as of December 31 and around 400 client advisers in Hong Kong.

Cambridge Associates names new CEO
US investment consultancy Cambridge Associates has promoted David Druley to chairman and chief executive to replace Sandra Urie, as part of a long-term succession plan. Philip Walton will succeed Druley as president. The changes will take effect on July 1. 

Urie will take up an ‘of counsel’ role, advising the new leadership and the board. She joined the Boston-based firm in 1985 and has been in charge for the past 16 years. 

Druley joined Cambridge Associates in 2003. Before becoming president and head of global investments, he had headed the firm's global pension practice. 

Walton, currently head of the private client practice, joined Cambridge in 1999.

Other people news reported on in the past week:

Aberdeen building Asia multi-asset team

Temasek "needs a new leader"

Talent drain still an issue in China despite landmark launch

SLI outlines plans for Japan buildout

M&G ramps up Japan focus with Pimco hire

KIC names CIO, still seeking CRO reports

This story was updated on Monday, May 3, to correct Grace Barki's job title

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