JP MORGAN AM HIRES ASIA HEAD OF CPM
JP Morgan Asset Management has seen changes to its client portfolio management team in Asia.
The US firm hired Alexander Treves in Hong Kong as head of CPM for emerging markets and Asia-Pacific equities in early July.
Sherene Ban had previously headed the CPM team for Asia-Pacific equities out of London. She is now head of the beta specialist team for Europe, the Middle East, Africa and Asia Pacific. JP Morgan AM could not immediately confirm when she took on the new role.
Treves previously worked for Hong Kong-based wealth manager Silverhorn Advisors as managing director of investments until May 2017. The firm declined to comment.
Before that he spent almost 10 years at fund house Fidelity International, most recently as Japan head of equities, according to his LinkedIn page.
Meanwhile, Pinakin Patel left JP Morgan AM in June, where he had been a client portfolio manager for EM and Asia-Pacific equities based in Hong Kong. He will not be directly replaced, said a spokeswoman.
Patel had spent about 10 years at JP Morgan, according to his LinkedIn page. AsianInvestor could not ascertain his next destination.
NIKKO AM BUYS 15% STAKE IN ARK IM
Japan’s Nikko Asset Management has acquired a 15% stake in US-based Ark Investment Management, an active manager of exchange-traded funds with a focus on disruptive innovation.
The deal gives Nikko AM exclusivity to offer Ark products and investment strategies in Japan and Asia Pacific. Nikko AM declined to comment on the acquisition price or any potential changes to staff arrangements as a result of the acquisition.
Ark is a sub-adviser to Nikko AM’s Global Fintech Equity Fund, launched in Japan in December 2016 and with assets of ¥75 billion ($681 million) as of July 2017.
Industry observers expect to see more cross-border partnerships and sub-advisory relationships with Asia-based asset managers, in light of the high cost of building local presences in the region, as reported.
Another recent example of such a deal was that announced last month between Singapore's APS Asset Management and US-based Rothschild Asset Management.
ROBECO REPLACES JAPAN PRESIDENT
Robeco has hired Shiro Tsubota as its new president of Japan operations. He assumed the role on July 31 from Kikuo Kuroiwa, who will leave the firm once the management transition is completed.
Tsubota now reports to Graham Elliot, head of Asia-Pacific distribution at Robeco, who is based in Hong Kong.
Tsubota was formerly Japan CEO at Henderson Global Investors, and left the firm on June 8. Henderson has replaced Tsubota with Hideki Marui, who previously headed Janus Capital’s Japan business. Henderson and Janus completed their merger in May to form Janus Henderson Investors.
Tsubota has also worked at Deutsche Asset Management and Goldman Sachs Asset Management.
A spokesperson for Robeco declined to provide details of how long the transition would take.
CHINA AMC HK NAMES NEW ETF HEAD
China Asset Management's Hong Kong unit has appointed Frederick Chu as head of exchange-traded funds (ETF), effective in early June, AsianInvestor can reveal.
He replaces Vincent Chen, who left the firm in early April to join rival ICBC Credit Suisse Asset Management International, as head of index and quantitative investment.
Chu will report to Freddie Chen, China AMC’s Hong Kong managing director.
Chu was most recently a senior China adviser at Hong Kong-based multi-family office firm Duotem Capital until the end of May. He has also worked in sales at HSBC Securities Services.
JULIUS BAER HIRES ASIA HEAD OF ADVISORY
Julius Baer has appointed Rajesh Manwani as Asia head of markets and advisory solutions. AsianInvestor reported in May on speculation that he was joining the Swiss private bank from rival Credit Suisse.
Based in Singapore, Manwani will lead teams to deliver investment products and advisory services to clients in Asia Pacific. He succeeds Luigi Vignola, who has relocated to Switzerland to become global head of structured products.
Manwani reports functionally to Peter Gerlach, head of Julius Baer’s Zurich-based global head of markets, and Philipp Rickenbacher, head of advisory solutions, and regionally to Jimmy Lee, head of Asia Pacific.
Manwani stepped down in June as Asia-Pacific head of investment solutions and products (ISP) for private banking for Credit Suisse. The Swiss bank then integrated each of the ISP verticals into its broader products and solutions business within its private banking arm in the region, as overseen by SJ Hwang.
A spokesperson for Julius Baer declined to offer more details on Manwani’s appointment or the team he would be working with.
HSBC PB NAMES ASIA HEAD OF CREDIT ADVISORY
HSBC Private Bank has named Desiree Lam as Asia-Pacific head of credit advisory, effective August 1. She replaces Albert Lam, who is retiring.
She was previously head of structured credit for North Asia at UBS’s group corporate centre, which serves the wealth management division.
In her new role, Lam will be responsible for managing the credit advisory teams in Asia and overseeing credit propositions and lending products. She reports to Tan Siew-Meng, Asia-Pacific head of global private banking.
A UBS spokesperson declined to say if a replacement had been named.
VP BANK NAMES SINGAPORE BUSINESS DEVELOPMENT HEAD
VP Bank has hired Christian Christow as business development head for Singapore.
Formerly head of the intermediaries business at Deutsche Bank in Singapore, he took up the role on August 1 and reports to Sylvain Gysler, Singapore-based head of intermediaries for Asia.
A spokesperson said this was a newly created role and that no business development activity had been carried out previously in Singapore.
Christow left Deutsche Bank in March. A spokesperson for the German bank declined to comment on whether he had been replaced.
GRANT THORNTON ADDS AUSTRALIA WEALTH ADVISORY HEAD
US accounting and consulting firm Grant Thornton has appointed Ned Draydon as Australian head of private wealth advisory, effective on July 18.
Based in Brisbane, Draydon has taken up a newly created with a view to strengthening the firm's advisory business in Australia. His duties previously fell under Steve Healy, Australia head of private advisory and tax.
Draydon joined from Melbourne-based Myer Family Company as a client director for private wealth and family offices. He has also worked at Merrill Lynch and Goldman Sachs JB Were.
Other people news reported on AsianInvestor in the past week: