Lombard International expands into Asia
US-headquartered wealth structuring firm Lombard International is expanding into Asia with the hire of Tammy Lu Tsui as regional chief executive, and has applied to open brokerage offices in Hong Kong and Singapore.
Tsui started on January 1 in Hong Kong, reporting to Ken Kilbane, executive vice president of global distribution.
Tsui was most recently deputy chairman of Greater China for insurance group Jardine Lloyd Thompson. She has also worked at consultancy Aon, where she focused on private risk management in the wealth planning division.
With offices in Philadelphia and Luxembourg, Lombard International provides wealth structuring solutions using private-placement life insurance and annuity products. It has assets under administration of $75 billion and 500 employees.
Bank of Singapore hires investment strategist
Bank of Singapore has named James Cheo as investment strategist, effective January 1. Based in Singapore, he reports to chief economist Richard Jerram. The private bank said Cheo’s role was newly created but declined to give details of his area of coverage.
He previously worked for Barclays Wealth and Investment Management as an investment strategist for one-and-a-half years. Barclays said there was no replacement for him as yet.
Cheo has also worked as head of investment strategy for Southeast Asia at HSBC Private Bank, according to his LinkedIn page. His other employers have included hedge fund Kazim Asset Management and the Monetary Authority of Singapore, the latter for five-and-a-half years.
HSBC Private Bank appoints Asia head of structured products and FICC
HSBC Private Bank has expanded Abdel Ben Tkhayet’s role to Asia head of structured products and fixed income, currencies and commodities, as of January 1. Fixed income has been added to his other responsibilities, which include FX and structured products.
HSBC declined to specify Tkhayet’s former title or who had looked after the fixed income remit previously.
He continues to be based in Hong Kong and report to Ivan Wong, Asia-Pacific head of investment services and product solutions.
Tkhayet joined HSBC in Paris in 1997 and has held a number of senior positions at the bank, including head of FX options trading in France, head of structuring for the Middle East and global co-head of FX and interest rate hybrids trading. Prior to that, he worked at French bank Societe Generale in Paris.
MUFG Investor Services names head of business development
MUFG Investor Services, the asset-servicing arm of Japan’s Mitsubishi UFJ Financial Group, appointed John Sergides as global head of business development and marketing on December 14.
The appointment coincided with the completion of MUFG Investor Services’ acquisition of UBS Asset Management’s alternative fund services (AFS) business.
Blair Henderson was previously global head of business development for MUFG Investor Services’ fund administration business. London-based Henderson now reports to Sergides with a focus on business development in Europe, the Middle East and Africa.
Based in New York, Sergides was previously global head of sales at UBS AFS and before that head of business development and strategy for AFS at Deutsche Bank.
He now reports to Ken McCarney and Mark Porter, CEOs of the fund-servicing business lines under MUFG Investor Services.
Part of Japanese bank MUFG, MUFG Investor Services provides administration services for 2,300 funds with $266 billion in assets under administration.
Pictet Wealth Management names new CIO
Swiss firm Pictet Wealth Management has appointed Cesar Perez Ruiz as chief investment officer (CIO), effective March 1. He was previously global head of investment strategy at JP Morgan Private Bank, which has not yet named a replacement.
Based in Geneva, he replaces Yves Bonzon, who left on December 31 after 26-and-a-half years with the bank and will reportedly join rival BSI, which was recently acquired by Brazil’s BTG Pactual.
Ruiz has also worked for M&G and Credit Suisse Asset Management.
Pictet WM had £281 billion in assets under management and custody as of September 30, 2015.
Natixis names first Asia fixed income head
French bank Natixis in November appointed Viet-Linh Ha Thuc as its first Asia-Pacific head of fixed income, based in Hong Kong. He reports to Alain Gallois, global head of fixed income, and Serge Ekué, Asia-Pacific head of global markets.
Before joining Natixis, Ha Thuc was global head of fixed income derivatives and Japan equity structured products trading at Daiwa Capital Markets Hong Kong.
Other people news reported this week: