VANGUARD POACHES CHINA WFOE EXECUTIVE FROM FIDELITY

Vanguard has hired David He as chief operating officer for China.

Effective from March 1, the Shanghai-based executive is leading Vanguard’s information technology infrastructure set up and daily operation in China. He reports jointly to Charles Lin, Hong Kong-based managing director and head of China, and John McGrory, US-based chief Information officer of Vanguard International.

Vanguard created the new role as it continues to build its wholly foreign-owned enterprise (WFOE), which has grown to a team of nine staff after its foundation in 2016. Vanguard has not applied for a private fund management licence yet, and is still evaluating opportunities for the WFOE, according to a company spokeswoman.

Prior to Vanguard, He was general manager for Fidelity’s WFOE in Shanghai and head of research at Fidelity Dalian. Fidelity declined to comment on his departure.

STATE STREET APPOINTS CHINA HEAD OF GLOBAL SERVICES

State Street Corporation has appointed Lisa Lou (pictured top) as country head of global services for China and general manager of its Beijing branch.

The role was previously held by Caleb Shih, who left State Street to pursue other opportunities in 2017, according to a company spokeswoman. Lou took up the Beijing-based position on February 26 and reports to Richard Fogarty, Japan-based senior vice-president and head of global services for North Asia.

She most recently worked at JP Morgan Chase Bank China, where she was head of financial institutions and public sector clients for China, and also general manager of its Beijing branch. JP Morgan declined to comment on her departure.

ALLIANZ ANNOUNCES NEW ASIA CEO

Allianz has named Solmaz Altin, now its chief digital officer, as an eventual replacement for Asia regional chief executive officer George Sartorel.

Altin will join Allianz Asia's executive board on June 1 before taking over Sartorel's CEO duties on May 1, 2019, the insurer announced. He will work closely with Sartorel over the course of 2018 to ensure a smooth transition, the company said in a media statement.

Currently Altin is based in Munich, but he will relocate to Allianz Asia's headquarters in Singapore in June, a spokeswoman told AsianInvestor.

While Sartorel is relinquishing his CEO duties, he will become chairman of the Allianz Asia advisory council, from the beginning of April. He is taking over this role from Sergio Balbinot, a member of the Allianz management board. 

The succession for the chief digital officer role will be announced in due course, the company added.

CITI PRIVATE BANK APPOINTS ASIA PACIFIC STRATEGIST

Citi Private Bank has announced the internal appointment of Catherine Cheung as Asia-Pacific strategist, effective March 7.

Cheung is based in Hong Kong and reports to Ken Peng, Citi Private Bank’s Asia-Pacific chief investment strategist. She replaces Shirley Wong, who left the bank in January.

In her new role, Cheung will promote the private bank’s investment strategy content for Asian markets across the different asset classes to both its ultra high net worth (UHNW) clients and internal stakeholders, working in tandem with the global strategy team, the bank said in a media statement.

Cheung was previously the head of portfolio advisory at Citi’s global consumer bank in Hong Kong, where she led a team of portfolio counsellors in advising Citigold private clients on their investment asset allocations. Before that, she was head of investment strategy for Hong Kong  at the consumer bank.

A Citi spokeswoman declined to comment on who would replace Cheung in her previous role.

DEUTSCHE AM NAMES DIRECTOR OF SALES FOR AUSTRALIA AND NEW ZEALAND

German investment manager Deutsche Asset Management has appointed Alex Francois as director of sales in the global client group (GCG) for Australia and New Zealand.

Francois started the Sydney-based role in December 2017, a Deutsche spokesman said. He oversees Deutsche AM’s public markets capabilities, including equities and multi asset, and reports to Lidi Tornova, head of GCG for Australia and New Zealand.

The bank moved Francois to the vacant role after the move of its former occupant Simon Brinsmead, to head consultant relations for Europea, Middle East and Africa and Asia Pacific within the GCG, according to the spokesman.

Most recently, Francois was head of institutional distribution for Australia and New Zealand at US asset manager William Blair Investment Management. William Blair announced the appointment of Alex Rolfe as his replacement in December 2017.

AUGENTIUS NAMES MANAGING DIRECTOR FOR ASIA

UK-based private equity and real estate fund administrator Augentius has appointed Jimmy Leong as managing director for Asia.

Based in Singapore, Leong started his role at the beginning of March and oversees the development of new and existing client relationships in the region, a company spokeswoman said. Leong reports to chief executive Ian Kelly, she added.

He replaces Alexander Traub, the former managing director for Asia, said the spokeswoman. Traub is now a regional executive for Asia Pacific at fund and corporate services provider Alter Domus.

Leong was most recently managing director at Singapore-based asset manager Hua Hong Foundation Investment.

AsianInvestor was unable to ascertain Leong’s exit date and replacement at Hua Hong.

VP BANK NOMINATES FORMER JULIUS BAER ASIA CEO TO BOARD

Liechtenstein-based private bank VP Bank has nominated Thomas Meier to its board of directors.

Meier, who serves as a vice-president of the non-profit Julius Baer Foundation, was chief executive of Asia for Julius Baer from 2007 to 2015.

The nomination, which is subject to approval of the Liechtenstein Financial Market Authority, will be voted on at the annual general meeting scheduled for April 27.

VP Bank has said it plans on recruiting 75 client advisors in the intermediaries and private banking segments by the end of 2019, about half of whom will  work in Asia.

COLLIERS APPOINTS NATIONAL DIRECTOR FOR ASIAN MARKETS

Property services firm Colliers International has named Joe Lin as national director for Asian markets.

Sydney-based Lin works with institutional clients interested in investing in Asia, alongside head of investment services Matthew Meynell.

Colliers did not respond to requests for comment on when Lin joined, to whom he reports and who he replaced.

Lin was most recently managing director for commercial real estate services firm CBRE Group in Taiwan. He left the firm at the end of December 2017, a CBRE spokeswoman said, and no replacement has been announced yet.

Tom Gaffney, managing director of CBRE Hong Kong, Macau, and Taiwan, is overseeing the Taiwan operations in the interim, according to the spokeswoman.

EVESTMENT HIRES SALES EXECUTIVE FOR JAPAN

eVestment has hired Hiroyuki Senda as vice-president of sales for Japan.

The Tokyo-based executive joined the institutional investor data provider in February. He reports to Hans Jiang, Hong Kong-based head of Asia-Pacific.

The company declined to say whom he had replaced. It is planning to hire two more supporting staff to form a three-person team in Japan, according to a company spokesman.

Senda most recently served as a vice-president at Amundi Asset Management in Tokyo, which declined to comment on his departure.

INDOSUEZ WEALTH MANAGEMENT APPOINTS NORTH ASIA HEAD

CA Indosuez Wealth Management has named Timothy Lo as head of wealth management for North Asia and deputy chief executive based in Hong Kong, effective February 1.

In his new role Lo reports to Antoine Candiotti, Hong Kong CEO. He first joined Indosuez Wealth Management after it took over the Hong Kong and Singapore private banking business of Credit Industriel et Commercial (CIC) in December 2017. He was a managing director at CIC. Before that, Lo worked for BNP Paribas and HSBC Private Bank.

Indosuez did not respond to queries on who handled Indosuez's North Asia responsibilities before Lo was appointed.

Indosuez Wealth Management acquisition of CIC’s Singapore and Hong Kong private banking business brought its total assets under management across the region to about €12 billion ($14.7 billion). Its number of employees in Asia has grown from around 250 to just around 400.

Other people news reported by AsianInvestor in the last week:

Eastspring wins WFOE licence, names China head

Future Fund joins tech hiring trend in reorganisation

JP Morgan AM loses Asia fixed income head

Schroders rejigs Asia bond team as De Mello exits