OSTRUM’S HEAD OF ASIAN EQUITIES TO DEPART

Chou Chong, Singapore-based head of Asian equities at Ostrum Asset Management, will be leaving the French fund house in early July, AsianInvestor can exclusively reveal.


 
Chou Chong

After Chong's departure, the team will be managed on an interim basis by Jean-Luis Scandella, Paris-based head of equities, while the fund manager looks for a replacement.

Ostrum AM’s equity business is run on a global basis, with teams based in Paris and Singapore, a company spokesman said. Resources in Singapore now contribute more to the company than just the Asian or global emerging market portfolios and they work very closely with the teams in Paris as one unique team, he added.

An industry source told AsianInvestor that Chong would manage his family business after leaving the fund house. Chong could not be reached for comment.

HEIDRICK NAMES APAC FINANCIAL SERVICES HEAD TO REPLACE MCCRINDLE
Steven Greenberg

Recruitment company Heidrick & Struggles has lost asset management search veteran Steven McCrindle to rival firm Korn Ferry.

He had been with Heidrick for 10 years and was most recently managing partner for financial services for Asia Pacific and the Middle East and a partner in charge of the Hong Kong office. 

According to a well placed source, McCrindle will relocate from Hong Kong to Singapore after the summer to become global co-head of asset management and alternative investments at Korn Ferry. Chad Astmann is the other co-head of asset management.

Korn Ferry did not respond to requests from AsianInvestor for comment.

At Heidrick, Steven Greenberg was promoted in April to succeed McCrindle in an expansion of his responsibilities. The Tokyo-based Greenberg previously led the financial services practice in Japan and the insurance practice for Asia Pacific, roles that he retains.

Before joining Heidrick, McCrindle spent several years in Japan and worked for recruitment firms Eban and Hudson. 

This story has been updated to provide the details of McCrindle's new role at Korn Ferry.

FORMER WILLIS TOWER WATSON ASIA RESEARCH HEAD JOINS MERCER

Richard Tan
Richard Tan has joined global/New York-headquartered consulting firm Mercer in the role of Portfolio Specialist, Asia.
 
He began in the newly created role May 14 and will be based in Hong Kong, a spokeswoman told AsianInvestor. Tan will lead portfolio construction in public and private markets and reports to Janet Li, the Asia wealth business leader at Mercer.
 
Tan has previously held positions that include head of private markets, Asia and most recently Asia head of manager research at advisory, broking and solutions company Willis Towers Watson.
 
A spokeswoman at Willis Towers Watson said Tan left the company at the end of February 2019. Adrian Chan, director and manager for research, has assumed most of Richard’s previous duties and responsibilities, and now leads the manager's research efforts in Asia.

JP MORGAN AM NAMES NEW CHINA JV CHIEF

Eddy Wong, chairman and chief executive officer (CEO) of JP Morgan Asset Management’s Taiwan business, has been appointed to be the CEO of JP Morgan AM’s China joint venture.

He will become the head of China International Fund Management (CIFM), a joint venture between JP Morgan Asset Management and Shanghai International Trust Corp, to succeed retiring CEO Eddie Chang. The new position is effective today (May 31).

In Taiwan, Dan Watkins, JP Morgan AM’s Asia Pacific CEO, will oversee Taiwan on an interim basis as the fund house seeks a replacement for Wong. Henry Tong, general manager at the Taiwan unit, will continue to manage local daily operations, reporting to Watkins, a company spokeswoman said.

CREDIT SUISSE ALTERNATIVES HEAD DEPARTS 
 
Donald Rice has reportedly left Credit Suisse in Singapore and his role as Asia Pacific private banking deputy head of fund solutions and head of alternatives. Salman Shah was reportedly appointed as head of alternative fund solutions with base in Singapore.
 
The Swiss financial firm did not respond to AsianInvestor’s inquiries regarding the nature of Rice’s departure or the appointment of Shah.
 
Rice reportedly moved to Asia to take up the role of head of alternative investments for private banking in Asia Pacific in March 2016. Prior to that, he was based in Zurich as head of the alternative investments coverage team within the international wealth management division of Credit Suisse. His tenure at the financial firm lasted 23 years.

NATIXIS IM POACHES SALES HEAD FROM MERIAN  

Natixis Investment Managers has appointed Kylie Chan as head of wholesale and retail sales for Hong Kong, effective on May 2.

Kylie Chan

She reports to Madeline Ho, Singapore-based head of wholesale fund distribution for Asia Pacific.

Chan replaces Samuel Lam, who left Natixis in December last year, a spokesman said. Lam joined First State Investments as Hong Kong-based director for North Asia intermediary business in January, according to his LinkedIn profile.

Chan was previously the Hong Kong-based head of sales for North Asia at Merian Global Investors, but she left the company at the end of April, said a spokesman at Merian.

Merian is seeking a replacement for Chan. In the interim, the wider sales team are covering Chan's former responsibilities. This includes Edward Ho, head of sales for Hong Kong, and Anna Yau, a sales manager.

AUSTRALIA GETS NEW DEPUTY SUPERANNUATION MINISTER

Following the victory of Scott Morrison on May 18, the Australian prime minister has announced his picks for the second Morrison ministry on May 26, making Jane Hume assistant minister for superannuation, financial services and financial technology. She took up the role on May 29, according to her biography.

Jane Hume_assistant minister of superannuation_Australia Morrison
Jane Hume

Hume will be working under Josh Frydenberg, treasurer for the Australian government, and has succeeded Stuart Robert, who was recently appointed by Morrison as minister for the national disability insurance scheme and minister for government services. Robert was assistant treasurer from August last year before his new appointments, according to his biography.

Hume was previously elected as the senator for the state of Victoria in 2016, and has also worked in the banking and financial sector, including as a private banker at National Australia Bank and a senior strategic policy adviser at Australian Super.

MICHAEL CHRISTO RETIRES FROM HSBC
 
Michael Christo will retire from his role as managing director, discretionary Asia at HSBC Private Banking in Hong Kong. HSBC did not respond to AsianInvestor’s inquiries regarding the date of Christo’s retirement and plans for his successor in the role.
 
Christo assumed his role at HSBC in June 2017, according to his LinkedIn profile. Prior to that, he had been a managing director at UBS Wealth Management since 2005.
 
AVIVA INVESTORS APAC MARKETING HEAD QUITS

Peggy Wu, head of Asia Pacific marketing of Aviva Investors will move from Singapore to Charlotte, North Carolina in the US at the end of June, the firm’s spokeswoman told AsianInvestor.

Peggy Wu_Aviva
Peggy Wu

Wu will move back to the US, her home country, following her husband’s new appointment with his company after spending six years in Singapore, the spokeswoman said. Wu will evaluate career opportunities there after settling in.

The spokeswoman said Wu’s role will be filled but the firm has yet to identify her replacement and that the local team will be looking after ongoing duties with the support of the global market team.

Also reported in the past week on AsianInvestor.net:

Invesco poaches Fidelity's China bond head: source