Prudential hires Asia CIO, appoints new Asia CEO
UK insurer Prudential has hired Stephan van Vliet as chief investment officer for Asia as it continues the reorganisation of its regional investment team. Meanwhile, Asia chief executive Tony Wilkey has stepped down and will be replaced by chief financial officer Nic Nicandrou.
Van Vliet started in the CIO role this month, having moved from PineBridge Investments, where he had been head of insurance asset management since January 2014.
A Prudential spokeswoman said van Vliet "would oversee investments across Prudential’s insurance businesses in Asia, provide investment support to the investment teams in its markets, and work with the company’s Asia asset management business Eastspring Investments to drive the company’s investment performance".
The local CIOs in the insurer's large markets of Hong Kong, Singapore, Malaysia and Indonesia will report to their local CEOs rather than to van Vliet, under the firm's usual structure.
Prudential appointed Ben Rudd and Lena Teoh as CIOs for its Hong Kong and Singapore businesses, respectively, earlier this year. These are newly created roles, and the firm is planning to do the same in Malaysia, said a source close to the firm.
Meanwhile, Wilkey is leaving to pursue new challenges after 10 years with the firm, Prudential said in a statement on Thursday. Mark FitzPatrick, currently a managing partner at Deloitte, will take over the CFO vacancy vacated by Nicandrou.
China Universal's international business head exits
Shelley Yang, head of international business at Shanghai-based China Universal Asset Management, left the firm in March, according to her LinkedIn page.
Based in Hong Kong, Yang had joined the firm in that role in June 2012. She remains an independent director at the firm, but has joined Chinese broker Haitong as senior managing director in Lisbon, Portugal in May, according to her LinkedIn page.
A source told AsianInvestor that Yang had not been directly replaced at China Universal.
China Universal did not respond to requests for comment by press time.
Rajesh Manwani reportedly to join Julius Baer
Rajesh Manwani, formerly Credit Suisse's Asia-Pacific head of investment solutions and products for private banking, will join rival Swiss private bank Julius Baer, reports Asian Private Banker.
Julius Baer declined to comment. Manwani stepped down from his role at Credit Suisse in early June.
Credit Suisse appoints senior adviser in Japan
Credit Suisse has appointed Tsunehiro Watabe as senior adviser in Japan. Based in Tokyo, Watabe will work with the Swiss firm's private banking and investment banking departments to identify opportunities to deliver its integrated bank offering to clients, the bank said in a statement.
Credit Suisse declined to comment on whether the appointment was a replacement or an additional hire.
Before joining Credit Suisse, Watabe was senior adviser and chairman at private equity firm CVC Capital Partners until March. CVC has not named a new chairman but appointed Nobuaki Kurumatani as president on May 1.
Pictet WM adds senior banker for North Asia
Pictet Wealth Management has hired Laurent Mesnier as a senior vice president on its North Asia team, covering international clients. He joined on April 18 and reports to Sharon Chou, chief executive for North Asia at Pictet WM. A spokeswoman said Mesnier did not replace anyone.
He most recently ran a non-profit organisation supporting French entrepreneurs in Asia that he set up last year. Prior to that he was an executive director serving ultra-high-net-worth individuals at ABN Amro Private Banking.
UBS WM hires adviser to South Asia desk
Greg Simmons has rejoined UBS Wealth Management as an investment adviser on the emerging markets team as part of the South Asia desk in London, effective May 2.
Reporting to desk head Anuj Chhabra, he will advise ultra-high-net-worth clients who have a cultural connection to South Asia but who are based elsewhere.
Simmons was most recently UK head of client solutions at private bank Coutts. Prior to that, he was head of structured products and research-based advice for the UK and Jersey at UBS, after spending the first seven years of his career at Barclays.
Colliers appoints head of west China
Property services firm Colliers International has appointed Tammy Tang to lead its commercial real estate business in west China, covering Chengdu in Sichuan province and Xi’an in Shaanxi province.
Effective from June 1, this is a newly created position for those markets, a spokesperson said.
Tang will split her time between Chengdu and Shanghai, and report to David Hand, chief executive for Asia Pacific at Colliers.
Lina Wong, who previously headed east and southwest China, will now focus exclusively on east China, especially Shanghai, given the massive potential the company sees in that region, said the spokesperson.
Tang joined the firm in June 2014 as head of industrial for China, a role she will retain.
Australian multi-family office hires ex-NAB exec
Myer Family Company, an Australian multi-family office, has hired former NAB and JP Morgan executive Nicholas Lipscombe as Sydney-based head of New South Wales, effective May 15.
He replaces Fintan Maher, who left in September 2016 to return home to Ireland.
Lipscombe reports to Danielle Press, chief executive of Myer, which provides private wealth strategies to families, trusts and fiduciary organisations.
Most recently Lipscombe was the practice executive for ultra-high-net-worth clients at National Australia Bank in Sydney and before that executive director for client management and delivery for Asia Pacific at JP Morgan.
Other people news reported on AsianInvestor in the past week: