Weekly roundup of people news, Aug 17
T. ROWE PRICE SHUFFLES ASIA LEADERSHIP
T. Rowe Price, a US fund house with $1.04 trillion under management, has announced several changes in the leadership of its client businesses in Asia, capping a major regional buildout.
Nick Trueman will succeed Scott Keller as Asia-Pacific head of global investment management services, in a change that will take effect on January 1, 2019.
In the new role, Trueman, now head of Asia ex-Japan institutional business, will oversee institutional and intermediary client coverage in the region. He will report to Robert Higginbotham, head of global investment management services, based in London.
On January 1, Keller will become head of global investment management services for Europe, Middle East and Africa. He will replace Peter Preisler, who left the firm to pursue other opportunities in August last year, said a spokeswoman. Keller joined T. Rowe Price in July 2014.
In addition, Elsie Chan, currently head of Asia ex-Japan intermediaries, will be promoted to Asia ex-Japan head of global investment management services. This means her remit will expand to also cover institutional business.
Hong Kong-based Chan will finalise the Asia ex-Japan growth plans in the coming months, T. Rowe Price said in a statement.
T. Rowe has been expanding its regional presence fast in recent years, particularly in Hong Kong. Its headcount in the city grew by a net 10 people this year and six last year, leaving it with 47 investment staff and eight sales executives there, a company spokeswoman told AsianInvestor.
TRANSAMERICA LIFE BERMUDA APPOINTS SINGAPORE CEO
Transamerica Life Bermuda, an insurance provider for high-net-worth individuals, has appointed Nicholas Kourteff as chief executive officer for Singapore, effective August 15.
Kourteff will report to Marc Lieberman, Transamerica Life Bermuda’s global chief executive.
Before joining Transamerica Life Bermuda, he was head of product management insurance solutions for Asia Pacific at Credit Suisse Trust in Singapore, where he was responsible for driving the growth of their HNW insurance business in Southeast Asia.
He replaces Winson Yap, who has decided to step down, a spokeswoman for Transamerica Life Bermuda told AsianInvestor.
Credit Suisse did not respond to queries, but AsianInvestor understands the insurance solutions business in Asia will be managed by the teams in Hong Kong and Zurich.
Kourteff has previously worked for UBS, AXA and Winterthur Life.
Transamerica Life Bermuda is part of the Aegon Group, an international insurance, pensions and asset management company with headquarters in the Netherlands.
*This story has been updated to include the departure of Yap.
BNP PARIBAS WM LOSES CHINA MARKET HEAD
BNP Paribas Wealth Management’s head of China market, Alfred Tsai, has left the firm, AsianInvestor understands.
Tsai joined the wealth firm in October 2011. He has previously worked for Julius Baer, UBS and Credit Suisse.
AsianInvestor could not confirm Tsai’s next move. A media report said he was set to join UBP, however, a spokeswoman for the Swiss private bank declined to comment.
BNP Paribas WM did not respond to AsianInvestor queries on Tsai’s departure.
SUSI PARTNERS NAMES ASIA INVESTMENT HEAD
Susi Partners, a Swiss asset manager specialising in sustainable energy infrastructure, has appointed Wymen Chan as managing director of Asian investment.
Singapore-based Chan will start in September, and will lead Susi’s efforts to launch its Asia energy transition investment strategy for Southeast Asian markets, giving institutional investors access to renewable energy and energy efficient infrastructure investments.
He reports to Marco van Daele, chief investment officer for Susi Partners, a Susi spokesman said, and he replaces Edgare Kerkwijk, who has left the firm. Susi declined to comment on the details of Kerkwijk’s departure.
Chan was most recently investment director at Singaporean fund house Armstrong Asset Management. Armstrong AM did not respond to AsianInvestor queries on when he left the firm, and whether a replacement had been named yet.
POINT72 PORTFOLIO MANAGER DEPARTS
Point72’s Hong Kong-based portfolio manager Chris Wong left the company earlier this month.
The US-based company is a multi-manager platform and is understood not to be seeking a direct replacement for Wong. It has hired three developmental portfolio managers since the beginning of this year: Mitsuhiro Kitani and Hiroshi Yamada, based in Japan, and Singapore-based Li Wei Tan.
A company spokeswoman declined to provide specific details on the three new hires and the number of Asia-focused portfolio managers at Point72.
AsianInvestor could not ascertain Wong’s next move.
ALLIANCEBERNSTEIN APPOINTS GLOBAL HEAD OF LIQUIDITY SALES
AllianceBernstein has appointed Zachary Green as New York-based global head of liquidity sales.
He started the newly created role in June and is responsible for overseeing the sales, marketing, product development and commercialisation of AllianceBernstein’s cash management business globally. He reports to Raymond Papera, New York-based senior vice-president and portfolio manager.
The role was created amid a rising interest rate environment; treasurers and cash managers get more excited about cash, and may then look to increase their exposure to this asset class, Papera told AsianInvestor.
Prior to joining AllianceBernstein, Green worked at Western Asset Management for more than 10 years as a product specialist and client service executive. Western Asset Management declined to comment on his departure.
RBC CAPITAL MARKETS APPOINTS JAPAN FI, CURRENCY & COMMODITIES DIRECTOR
Canadian investment bank RBC Capital Markets has appointed Satoshi Yoshizawa as director of fixed income, currency, and commodities.
Yoshizawa started on August 1, and is responsible for the marketing and distribution of dollar-denominated fixed income futures products to Japanese clients, including institutional investors, an RBC spokeswoman said.
He is based in Tokyo, and reports to Hidetoshi Hikawa, head of Japan fixed income sales.
The role is newly created to expand RBC’s client coverage in the region, the spokeswoman said.
RBC did not respond to an AsianInvestor query on whether anyone covered the marketing and distribution of dollar-denominated fixed income futures in Japan prior to Yoshizawa’s appointment.
Yoshizawa was most recently an executive director in the international products sales and global markets institutional sales department at Nomura Securities, the RBC spokeswoman said.
Nomura did not respond to AsianInvestor queries on when he left the firm and whether a replacement has been named yet.
Other people news reported by AsianInvestor in the last week: