StanChart hires from Julius Baer for UHNW role
Standard Chartered has hired a senior executive from rival Julius Baer to fill a newly create role aimed at boosting its ultra-high-net-worth business in Greater China.
Alison May Chan joined the private banking business as managing director for UHNW solutions for Greater China on January 12, putting her in charge of the team. Based in Hong Kong, her focus is on developing the UHNW strategy and platform, targeting investors with at least $30 million in investable assets. It is a new role and is part of the bank’s strategy to capture a greater share of the Chinese UHNW market.
She reports to Stephen Richards Evans, global head of UHNW business based in Singapore, and Desmond Liu, head of private banking for Greater China in Hong Kong.
She came to Julius Baer as head of North Asia business management after the Swiss private bank acquired the international wealth management business of Merrill Lynch. It is understood her responsibilities at Julius Baer have been filled internally, but the bank declined to comment and would not specify names.
Chan was managing director at Merrill Lynch Wealth Management in Asia responsible for product development from 2011 to 2013.
StanChart reorganised its private bank team structure last year, which saw Richards Evans move back from Dubai to Singapore to develop its UHNW business in Asia.
Standard Chartered Bank’s private banking business globally has $61 billion assets under management. A spokesperson said Asia-sourced money was more than 70% of the global AUM. UHNW clients form a small percentage of the total client base but represent 40% of its global AUM.
Nikko AM poaches Naoki Kamiyama from BoA Merrill
Tokyo-based Nikko Asset Management hired Naoki Kamiyama on January 21 to fill the newly created role of chief strategist.
In addition to advising institutional and retail clients across asset classes, he will be a member of the company’s global investment committee.
Kamiyama has dual reporting lines, where he reports to the investing area and the sales and marketing area.
Kamiyama left Merrill Lynch Japan Securities late last year, where he was chief Japan equity strategist for the global research division and left late last year. Before that he had worked at Goldman Sachs and Morgan Stanley.
A Merrill Lynch spokesman declined to comment on whether a replacement for Kamiyama had been found, although he confirmed that he left late last year, with his most recent role being chief Japan equity strategist for its global research division.
Religare Global AM names new CEO
India alternatives investment firm Religare Global Asset Management has appointed Nalin Nayyar as chief executive.
Nayyar will report to Shachindra Nath, CEO of Religare Enterprises Group, a New Delhi-based financial services group.
Before Nayyar’s appointment, Religare GAM was headed by the group’s CEO Nath. Nayyar joined the Religare Group in November 2010 as head of investment banking for Religare Capital Markets in India.
He was previously head of investment banking at Citi in India from April 2008 to November 2010. Prior to that, he was with Lehman Brothers in India for eight years, covering European leveraged finance and sponsor coverage, according to his LinkedIn profile.
RGAM is India’s largest alternative asset manager, with $17 billion in AUM as of last September.
Baring AM names EM fund head
Jean-Louis Scandella has been given responsibility of Baring Asset Management’s Global Emerging Markets Fund, having joined the UK firm in May last year as head of equities from French fund house Comgest.
Based in London, he takes over from Staffan Lindfeldt, who left the firm at the end of last month. It was reported that Lindfeldt, who joined Barings in June 2013 as head of GEM, returned to his former employer, Stockholm-based Handelsbanken Asset Management.
Scandella worked at Comgest in Paris as EM portfolio manager from January 2005, according to his LinkedIn profile.
William Palmer and Isabelle Irish are co-managers on the GEM fund. Irish and Palmer were already members of the GEM team, but not previously as co-managers.
Scandella took charge of the GEM funds at the start of January and a Barings spokesperson said there were no plans for him to manage other mandates.
As of November 30, 2014, the Baring Global Emerging Markets Fund was worth $464.7 million, with Baring AM having assets under management of $44.2 billion.
Swift names new senior Asia execs
Financial messaging services provider Swift has appointed Sharon Toh as head of Asean and Zelda Anthony as head of compliance solutions for Asia Pacific.
Both Toh and Anthony will be based in Singapore, reporting to Eddie Haddad, Swift’s Asia-Pacific managing director.
Most recently head of Asean, Anthony previously served as Asia-Pacific head of new customers and regional head of Oceania.
Toh will run the Asean relationship management team, supporting existing customers and expanding Asean businesses. She joined Swift from Thomson Reuters, where she was sales director for Thailand, Vietnam, Cambodia, Myanmar and Laos.
Toh takes over her new position from Anthony, while Anthony’s position is a new role. Previously the compliance function was performed by Franck de Praetere, Swift’s head of payments and trade markets for Asia Pacific. De Praetere continues to work for Swift but has relocated to Sydney from Singapore.
Other people news reported by AsianInvestor in the past week: