Bank of Singapore has hired Gareth Nicholson from Aberdeen Asset Management as head of fixed income for discretionary portfolio management, AsianInvestor can reveal.

He joined last month and will work with a team of portfolio managers to help run the private bank's $6 billion discretionary portfolio, according to his LinkedIn page.

Bank of Singapore did not respond to a request for comment by press time.

At Aberdeen, Nicholson was Asian credit portfolio manager and had been with the firm for around 10 years. He left in March, and his work is being covered by other members of the team, said an Aberdeen spokeswoman.


BNY Mellon Investment Management is setting up an investment management wholly foreign-owned enterprise in the Shanghai free trade zone after receiving approval to do so on June 26.

The onshore entity will enable BNY Mellon IM to manufacture and sell onshore private funds to Chinese high-net-worth and institutional investors, once it obtains the appropriate licence. The firm, which has $1.7 trillion under management, has not yet applied for this.

It is too early to say whether BNY Mellon IM will seek to manufacture and sell mutual funds to the retail market in China, said Lindsay Wright, head of distribution and co-head for Asia Pacific.

Asked who would be heading the business onshore and whether there were any staff in place as yet, Wright said it would be looking to hire people for the Shanghai business over the coming months.

The directors of the IM WFOE are Wright and Doni Shamsuddin, Asia Pacific co-heads of BNY Mellon IM; Greg Brisk, London-based head of investment management governance at BNY Mellon; and Emily Chan, Asia-Pacific head of risk and compliance, based in Hong Kong.


Swiss private bank Julius Baer has appointed Ashish Gumashta as chief executive of its Indian business, effective July 1.

  Ashish Gumashta

Reporting to to Rémy Bersier, head of emerging markets, Gumashta succeeds Atul Singh, who has decided to take on a new challenge elsewhere.

Gumashta was previously managing director of investment advisory at Julius Baer Wealth Advisors (India) Private, and his book is being managed by his former team.

Singh was a key player in the integration of the Merrill Lynch's business in India after Julius Baer completed the acquisition of the US bank's international (ex-US) wealth arm in 2015.

Gumashta joined DSP Merrill Lynch in 1994 and held various leadership positions within that firm.  


HSBC Private Banking has appointed Patrick Ho as Asia investment strategist, based in Hong Kong. He reports to Fan Cheuk-Wan, Asia head of investment strategy and advisory.

A spokesperson said Ho had not replaced anyone, but declined say precisely what date he took up the role. According to his LinkedIn page, he joined in June.

Ho was most recently director on the greater China equity research team at Credit Suisse Private Banking. Selina Sia now leads equity research for Hong Kong and China for private banking, a spokesperson said.  


Multi-family office Carret Private Investments (Asia), an affiliate of New York-based Carret Asset Management, hired Samuel Chee as a partner on July 4. He joins Carret Private’s wealth management affiliate, QL Asset Management. Lee will cover China, Carret's target market.

Chee reports to QL lead partner Kim Young-Jeon, and is an additional hire, said Kenny Ho, managing partner of Carret Private Capital.

Chee joined from BNP Paribas Wealth Management as managing director. He has also worked at Julius Baer. BNP Paribas declined to comment.


RBC Investor & Treasury Services, part of Royal Bank of Canada, has appointed Paterson Hong as country head and director for global client coverage in Singapore, effective on July 6.

Reporting to Andrew Gordon, managing director for Asia, Hong will lead business development and client coverage in the city. She replaces Andy Allen, who has been Malaysia head since August 2016, a spokesperson said. 

Allen replaced Diana Senanayake as Malaysia country head after she returned to Luxembourg last year in another role with RBC ITS. 

Hong joins from JP Morgan Commercial Banking in Singapore, where she was an executive director responsible for multinational clients. JP Morgan did not respond to requests for comment.


Willis Towers Watson (WTW) has appointed Shum Mei-Chee as greater China life sales and practice leader, effective June 1. She will be responsible for leading and developing the life insurance consulting business for that region. 

Based in Hong Kong, Shum reports to Richard Collis, Asia-Pacific head of the insurance consulting and software business.

Shum's role is newly created, as WTW reorganised the insurance consulting business following the departure of Paul Melody last year, the previous Asia head of life insurance consulting, a spokesperson said. 

The firm declined to provide Melody’s leaving date, but KPMG announced on December 6 that Melody had joined the firm to lead its actuarial services practice for China and Asia Pacific.

Before joining WTW, Shum was chief marketing officer for Asian insurer AIA’s operations in the Philippines until October 2016. AIA declined to comment on Shum's departure.


UK law firm Charles Russell Speechlys (CRS) opened a Hong Kong office this month, its first in Asia, with a focus on advising high-net-worth clients.

CRS Hong Kong will run in association with a newly established Hong Kong law firm headed by Jonathan Mok, CRS said in a statement. The name of the firm is pending approval by the The Law Society of Hong Kong. 

Mok has been a partner at US law firm Mayer Brown JSM since September 2011, and will be leaving the firm next month.

Richard Grasby has also joined CRS Hong Kong as a partner. He was most recently a partner and Asia head of trusts and private wealth at offshore law firm Maples and Calder .

Another CRS partner, Ashley King Christopher, will relocate from London to Hong Kong early next month. He advises international clients and their family office executive teams on the integration of international wealth protection structures with business and investment transactions.


US law firm Orrick has added Scott Peterman as a partner in the M&A and private equity practice in Hong Kong, effective July 4. He will focus on private equity, infrastructure, real estate and hedge funds.

Peterman joined from rival firm Jones Day, where he was a counsel focusing on private funds. He has also worked for US law firm Sidley Austin. Jones Day did not respond to a request for comment.


UK law firm Withers has hired a team from US rival Winston & Strawn for its greater China commercial practice, covering corporate, commercial, intellectual property, real estate and trusts and estates matters.

The Hong Kong-based team is led by Mabel Lui, who focuses on M&A, investment, capital market, real estate and wealth management matters. Other senior team members include Polly Chu, a partner specialising in corporate real estate, and Daniel Tang, a partner focused on cross-border international M&A, joint ventures and private equity/venture capital. 

Lui, Chu and Tang all started on July 1. The rest of the 12-strong team comprises associates, paralegals and support staff.

At Winston & Strawn, Lui was Asia head of corporate, while Chu and Tang were both partners. A spokesperson from Winston & Strawn declined to say whether the firm would seek to replace the lawyers who had left, saying only that it would hire in the region.

This comes after the firm closed its Beijing and Taipei offices late last year, moving some staff to Hong Kong and Shanghai.


Indosuez Wealth Management, Credit Agricole's private banking arm, has added senior banker Eugene Huang in Singapore. He joined on June 1 and was most recently with Nomura Wealth Management in the same city. He has also worked with Barclays and Merrill Lynch in Singapore. Nomura declined to comment.

Other people news reported on AsianInvestor in the past week:

JP Morgan AM shuffles leadership in Taiwan

APS AM to sign bigger tie-up after Rothschild deal

Nikko AM creates global operations head role

Credit manager Muzinich opens Asia office