TEMASEK INTERNATIONAL NAMES NEW CEO, CHAIRMAN
Temasek International, the management and investment arm of parent Temasek Holdings, has announced leadership succession changes.
Dilhan Sandrasegara Pillay will succeed Lee Theng Kiat, 65, as chief executive of Temasek International, effective April 1.
Lee will take over from Ho Ching as chairman, Temasek International, on the same date. Ho remains CEO of Temasek Holdings.
Pillay, currently deputy CEO of Temasek International, has held various leadership roles in Temasek since 2010, including leading its investment and portfolio management groups, and overseeing the US and Americas market teams.
A Temasek spokesperson said there were no plans to find a new deputy CEO.
WELLINGTON HIRES EX-BNP PARIBAS AM HK INSTO HEAD
Owen Chin, previously head of institutional sales for Hong Kong at BNP Paribas Asset Management (BNPP AM), has joined US fund house Wellington Management.
Chin left BNPP AM in the first week of March and the team in the region has taken over his job responsibilities, a spokesman for the French asset manager told AsianInvestor.
Chin's replacement is set to join BNPP AM next month, the spokesman added.
Chin joined Boston-based Wellington as client service manager in March, according to his LinkedIn profile.
Wellington did not reply to AsianInvestor’s emailed queries about Chin's appointment.
AIG NAMES SINGAPORE CEO
New York-based insurance group American International Group has announced the appointment of Christian Sandric as president and chief executive for Singapore, effective April.
Sandric assumes leadership of AIG Singapore after working as head of personal insurance for AIG Japan Holdings in Tokyo.
Based in Singapore, he will report to Sachin Shah, Asia-Pacific CEO at AIG General Insurance.
Claudia Salem was previously AIG's CEO for Singapore and Southeast Asia, having taken up the role in May last year. She left to join German insurer Allianz in February.
During his 20-year career with AIG, Sandric has held a series of leadership positions.
DEUTSCHE BANK SETTING UP BAD-LOAN BUYING UNIT
Deutsche Bank is reportedly setting up a unit in India to buy and restructure bad debt in India, where bankruptcy law changes in 2016 have led to a wave of opportunities to invest in non-performing loans (NPLs).
Foreign investors cannot buy NPLs directly but must do so through so-called asset reconstruction companies based locally, so the German bank has decided to set up its own such entity.
It is understood that Amit Khattar, Asia-Pacific co-head of global credit trading at Deutsche, oversees this business regionally.
Deutsche Bank declined to comment.
BNP PARIBAS AM APPOINTS APAC STEWARDSHIP HEAD
BNP Paribas Asset Management has named Gabriel Wilson-Otto as head of stewardship for Asia Pacific, effective March 18.
Based in Hong Kong, he reports to Paris-based Helena Viñes Fiestas, global head of stewardship and policy.
Wilson-Otto previously worked at Goldman Sachs as head of GS Sustain Asia Pacific, where he led a team to identify long-term investment opportunities in high-quality companies, a media statement said.
Goldman Sachs declined to respond to AsianInvestor queries on his departure.
GOLDMAN SACHS NAMED NEW HEAD OF SUPER AND PENSIONS
Goldman Sachs has appointed Rory MacEwan as Sydney-based head of super and pension funds in Australia and New Zealand. However, it did not provide a starting date for the hire.
His role is newly created within the financial and strategic investors group, said a Goldman spokeswoman, but she declined to provide further details on the appointment.
MacEwan joined the investment bank in December 2013 as an associate in equity capital markets.
CLSA CEO LEAVES
Jonathan Slone, CLSA’s chief executive, has resigned from the financial services firm.
Slone joined Hong Kong-based CLSA in 1988 as regional research director in Hong Kong and has been with the company for three decades. His resignation follows that of CLSA’s chairman, Tang Zhenyi, who left last month.
CLSA did not respond to an AsianInvestor query on Slone’s departure.
DBS PRIVATE BANK HIRES WEALTH PLANNING HEAD
Lee Woon Shiu has been appointed to the newly-created role of regional head of wealth planning, family office and insurance solutions for DBS Private Bank, effective March 18.
Lee will report to Sim Lim, group head of consumer banking and wealth management, DBS Bank.
Lee was most recently head of wealth planning, trust and insurance at Bank of Singapore. A Bank of Singapore spokeswoman said a replacement for Lee would be announced in due course, but declined to comment on when Lee left the private bank.