Neuberger taps former KKR partner as adviser
US fund house Neuberger Berman has named Clifford Chiu, a former partner at private equity group KKR, as senior adviser to its Asia business, effective July 28.
Chiu, whose role is newly created and based in Hong Kong, will work across Asia Pacific to help the $257 billion fund house build its client base across asset classes, including in his previous specialism private equity.
Back in January Chiu spoke in an internal KKR memo of his intention to leave the firm by June and return to the US with his family.
During his time at KKR he helped its PE group raise $14.4 billion across five markets. He most recently oversaw the firm's client business in Asia, including Japan.
Prior to Chiu’s appointment at KKR in 2007, he worked from 2002 at JP Morgan in Hong Kong and Tokyo, where he was responsible for the firm’s Asian institutional business.
Before that he was head of investment banking for Hong Kong and co-head of Japan investment banking at Citigroup/Salomon Smith Barney.
Chiu has been replaced at KKR by Rex Chung as its head of client and partner group in Asia, a spokeswoman confirmed. Chung joined the firm in 2008.
Neuberger Berman employs more than 120 people in Asia and manages assets for the region's sovereign wealth funds, pension funds, insuers and private and retail banks. It does not break out its Asia AUM.
HSBC Securities Services fills China strategy role
HSBC’s securities subsidiary has appointed Elaine Liu as head of product strategy for China, effective from July 21.
In the newly created Hong Kong-based position, Liu reports to Ian Stephenson, HSBC Securities Services’ global head of fund services.
"China presents huge opportunities for investors as the country continues to liberalise its capital market,” said Stephenson. “This appointment is a further demonstration of our commitment to supporting clients' strategies as they relate to growth opportunities both inside and outside of China."
Prior to joining HSBC, Liu was head of client relationship and China business development at State Street Global Services. She has also worked for BNY Mellon and PricewaterhouseCoopers in New York.
Rothschild private bank's Asia CIO resigns
Switzerland’s Banque Privée Edmond de Rothschild (EdR) has reportedly lost its chief investment officer, Peter Amandini.
Amanadini joined the Swiss private bank in 2010 from HSBC Private Bank in Asia. An EdR spokesman declined to comment on the departure or whether Amandini had or would be replaced.
Other recent departures from Rothschild include Stephane Keifer, who reportedly resigned as chief operations officer in Hong Kong in March. A spokesman also declined to comment on the departure. As of press time, AsianInvestor could not ascertain his next move.
EdR recently added six private bankers from HSBC, UBS and Coutts under the leadership of Monique Chen, who was hired in November last year as its chief executive for Asia.
Franklin Templeton promotes for Asia retail role
US asset manager Franklin Templeton Investments has promoted Isabella Chan to become head of retail business for Greater China and Southeast Asia.
Effective last month, the Singapore-based role is an expansion of her previous Hong Kong-based job as head of sales and marketing for Greater China.
In that former role she was responsible for distributing the group’s products in the retail and private banking channels. She now works with regional and country retail distribution teams to better align product distribution.
The role was partly carved out of William Tan's responsibilities. He was the firm's head of retail sales for Southeast Asia, but he left in February to pursue other interests.
Stephen Grundlingh, co-chief executive for Singapore and regional head for Southeast Asia covered Tan’s duties in the interim.
Prior to joining Franklin Templeton in 2000, Chan headed HSBC Global Asset Management’s client services and funds team in Hong Kong.
Other people news reported on AsianInvestor this week: