CPPIB promotes Mark Machin to CEO
Canada Pension Plan Investment Board (CPPIB) has named Mark Machin as president and chief executive, promoting the former Goldman Sachs banker from head of international and president for Asia.
Machin will relocate from Hong Kong and start in the Toronto-based role on June 13. His predecessor, Mark Wiseman, is leaving for US asset manager BlackRock.
CPPIB, Canada's biggest retirement fund, said Machin would retain his current responsibilities until a successor or successors were announced in due course.
Machin joined CPPIB in February 2012 as its first regional president for Asia, with a remit to ramp up its presence in the region and build a team of investment professionals. He retained responsibility for Asia when he stepped up to head of international in November 2013.
CPPIB had C$44.3 billion ($33.8 billion) – 17% of its C$264 billion in AUM – invested in Asia Pacific as of September 30, 2015. It added a second office in the region, in Mumbai, last year.
Before joining CPPIB, Machin spent 20 years with Goldman Sachs, most recently as vice-chairman of Asia ex-Japan. He started his career as a medical doctor in the UK.
Wiseman became president and CEO at CPPIB on July 1, 2012 and has been with the institution for 11 years. He will serve as a senior adviser to the board of directors until September 5, 2016.
Wiseman will in September become head of BlackRock’s global active equity business and chairman of the global investment committee. He will also help support BlackRock Alternative Investors. He will report to Robert Kapito, president of BlackRock.
Nikko AM names new global head of sales
Japan’s Nikko Asset Management has appointed Yuichi Alex Takayama as global head of sales for international business to oversee international business development and sales planning. He replaces Takuya Koyama, who has retired.
Takayama was most recently chief executive of European and head of international sales at rival Japan fund house Tokio Marine and Asset Management.
Nikko AM declined to comment on whether Takayama had a mandate to hire or whether it was planning any further partnerships similar to the one it signed recently with UK-based Legal & General Investment Management.
Takayama has some 20 years of asset management experience, spanning Tokyo, New York and London, mainly as a portfolio manager and senior analyst for Chuo Mitsui Trust & Banking (now Sumitomo Mitsui Trust Holdings) and Mizuho Trust & Banking.
BBH launches trust business in Hong Kong
Brown Brothers Harriman (BBH) has launched a trust business in Hong Kong to service global asset managers looking to set up Hong Kong-domiciled funds following the launch of the mutual recognition scheme with China.
The US custody bank has named Gabriel Cheung to lead the business, reporting to Scott McLaren, Hong Kong head, and Matthew Heffernan, Boston-based senior vice president of institutional trustee services.
Cheung is the first trustee-specific member of BBH Hong Kong and is supported by the compliance, legal, risk management, accounting, transfer agency and custody teams. BBH said it would add headcount as the business expands.
Cheung joined BBH in January from HSBC Institutional Trust Services, where he served as senior manager of trustee and fiduciary services. Prior to that, he was associate general counsel at AIA Pension and Trustee in Hong Kong.
UBS WM loses Southeast Asia head of UHNW
UBS Wealth Management has lost its head of ultra-high net worth clients for Southeast Asia, Joseph Poon. The bank declined to comment on the departure, but it is understood Poon will not be directly replaced.
AsianInvestor was unable to ascertain his next move by press time.
Before joining UBS in May 2012, Poon was head of Macquarie Private Wealth Asia.
The news comes amid reports of cost-cutting at UBS WM, but also follows two senior hires for its Southeast Asia operation.
In February, UBS WM said August Hatecke would become head of wealth management in Southeast Asia from April 1. In March, Tracey Woon was named a vice-chairman of its Asian wealth management operation, based in Singapore.
OMGI names Japan equity manager
Old Mutual Global Investors (OMGI), part of the UK's Old Mutual Wealth, has added former BlackRock veteran Rob Weatherston as Japanese equity manager. Based in Hong Kong, he will manage the Dublin-domiciled Old Mutual Japanese Equity Fund from June 17.
Weatherston, who started at OMGI on April 18, reports to Josh Crabb, head of Asian equities in Hong Kong. The Japan fund was previously run by the global equities team, with Ian Heslop, head of global equities, as lead manager. He will now pass on those duties to Weatherston.
Most recently, Weatherston spent two years running his own private investment business in Hong Kong, Grosvenor Renaissance Investment. Before that, he worked at BlackRock from 1996-2014, which included time running the BGF Japan Flexible Equity Fund.
Matthews Asia hires Asean strategist
US-based fund manager Matthews Asia has recruited Sriyan Pietersz, previously JP Morgan's head of Asean and frontier markets research, as an investment strategist covering the Asean region.
Based in San Francisco, Pietersz started in the role on May 17 and reports to Bill Hackett, Matthews Asia CEO.
A spokeswoman said the post was newly created, similar in nature to that of Andy Rothman, the firm's China strategist.
Pietersz will develop research on economic and political developments in Asean and frontier markets in Asia. Other members of the team will continue to monitor developments in Asean but will focus on bottom-up company research.
With $25.9 billion in assets under management, Matthews Asia describes itself as the biggest Asia-focused fund house in the US.
JP Morgan did not respond to requests for comment.
Friends Provident replaces Singapore head
Life insurer Friends Provident International, part of the Aviva group, has appointed Andrew Waddell as managing director for Singapore, where he will oversee the business.
He reports to FPI CEO Andrew Emery and replaces Chris Gill, who is leaving the group after 18 years for family reasons and returning to the UK.
Waddell was previously principal and executive director at Lahinch Partners, a Melbourne-based private consulting firm he founded. Before that, he co-led the establishment of AMP Advice, following the merger between AMP and Axa Australia.
Bank of Singapore hires hedge fund specialist
Bank of Singapore has hired Edward Moon as senior product specialist for hedge funds from Lighthouse Canton, an independent asset manager, where he was a managing director.
He took up his new role in Singapore on April 4 and reports to Tang Hsiao Ching, BoS's head of advisory and sales for managed investments.
A spokeswoman said Moon was an addition to the team of advisers responsible for marketing and servicing managed investment solutions. She said there was "no further information" on whether he was replacing anyone.
Prior to joining Lighthouse Canton, Moon spent six years as chief investment officer at Woori Absolute Partners and has also worked for Citi and Credit Suisse.
Lighthouse Canton did not respond to a request for comment.
Latham & Watkins adds private equity lawyer
Law firm Latham & Watkins has added Frank Sun, a specialist in private equity investments, as a partner in the corporate department. He left Kirkland & Ellis on May 13, and the rival law firm declined to comment.
He advises clients on private equity investments in China-based targets, Chinese outbound acquisitions, US privatisations, Hong Kong public takeovers and other M&A transactions.
Other people news reported on AsianInvestor.net in the past week: