CHINA RENAISSANCE SETS UP NEW INVESTMENT TEAMS
China Renaissance has established separate investment teams to focus on innovations in China's healthcare sector and opportunities in mezzanine securities issued by new economy companies, as part of a move to expand its asset management business.
Each part of the business has its own investment committee, portfolio managers, and research teams, the company said in a statement.
The company also said it was targeting $10 billion in AUM as it seeks to invest in companies across high-growth sectors in China, particularly technology, media and entertainment (TME) firms.
TME firms is China Renaissance’s long-standing focus and they have formed the basis for a distinct operating unit run on behalf of limited partner investors.
China Renaissance’s total assets under management are over $3 billion across US dollar and renminbi funds.
SENIOR CREDIT ANALYST EXITS FIDELITY
Fidelity Worldwide Investment has seen a Hong Kong-based senior credit analyst depart. Lili Fan’s regulatory licence with the Bermuda-based asset manager ceased on October 31.
She specialises in emerging-market credit research and had been with the firm since May 2014, according to her Linkedin page. Before that she had worked in bond research at UBS, Credit Suisse and Bear Stearns.
Fidelity did not respond to a query about Fan’s departure.
AsianInvestor could not ascertain where she might be going.
BANK OF SINGAPORE GREATER CHINA MARKET HEAD RETIRING
Bank of Singapore’s Greater China market head, Oliver Tang, is to retire next year, AsianInvestor understands.
Tang will step down from his Hong Kong-based role in 2018, with the date and a replacement still to be confirmed. He has worked at Bank of Singapore since its inception in 2009, when it was formed by OCBC’s acquisition of ING’s Asia wealth management unit.
The private bank could not immediately provide confirmation of these details by press time.
DYAL CAPITAL PARTNERS HIRES SENIOR EXECUTIVE FROM PARK HILL
Dyal Capital Partners, a subsidiary of Neuberger Berman that invests in minority stakes in alternative investment firms, has hired a senior executive from alternative asset advisory provider Park Hill.
Rita Ng (pictured) joined Dyal Capital Partners as Hong Kong-based senior vice-president in October. She reports to the US Dyal team, said a Neuberger Berman spokeswoman, who said she was not able to provide more details on the appointment by press time.
She was previously a principal at Park Hill Group, according to her LinkedIn profile. Park Hill could not be reached for comment.
PRINCIPAL INTERNATIONAL'S ASIAN VICE-PRESIDENTS BECOME PRESIDENTS
Principal International has given its two vice-presidents in Asia the title of president after its regional chairman retired.
Effective 16 October, Thomas Cheong becomes president of North Asia, and Pedro Borda is president of Southeast Asia and India. Cheong is based in Hong Kong while Borda is based in Malaysia. Both now report to Luis Valdés, US-based president of Principal International, after previously reporting to Rex Auyeung, who retired as chairman of Principal Asia in June.
The pair's change of title does not indicate a change in responsibilities, a spokeswoman said. The two have been overseeing the Asia region between them since Auyeung stood down, the spokeswoman added.
No decision has been made on whether there will be a new chairman for the region, the spokeswoman said. There will be no replacements for Cheong and Borda as vice-presidents, she added.
This story has been updated to reflect clarify that Principal International is not characterising the change of title as a promotion.
UBP HIRES TWO INVESTMENT ADVISERS IN HK, SINGAPORE
UBP has named two senior investment advisers in Hong Kong and Singapore.
Tracy Lan joined the Swiss private bank as Hong Kong-based managing director and senior investment adviser earlier this month. She reports to Paul Lee, Hong Kong-based head of advisory.
Anand Subramanian was appointed as Singapore-based director and senior investment adviser in mid-October. He reports to Aman Dhingra, head of advisory for Singapore and Asia.
The company declined to comment on who they have replaced.
Lan was previously executive director of private banking investment advisory in Hong Kong at Standard Chartered Bank until earlier this month. Standard Chartered Bank was not able to comment on her departure by press time.
Subramanian was previously Singapore-based director of the central collateral desk at Credit Suisse, according to his LinkedIn profile. Credit Suisse was also unable to comment on his departure by press time.
BNP PARIBAS NAMES HK HEAD FOR CUSTODIAN UNIT
BNP Paribas has appointed a new Hong Kong head for third-party clearer BNP Paribas Security Services.
Julien Kasparian officially takes up the new role on in November (the company declined to give an exact date), with a focus on deepening relationships with new and existing clients. He moves to Hong Kong from the London office, where he was most recently head of sales and global relationship management, UK banks and brokers.
He reports to Philippe Benoit, Hong Kong-based head of Asia Pacific at BNP Paribas Securities Services.
Julien replaces Stéphanie Marelle, who has relocated to Paris to take up a new role as global head of compliance for securities services.
CREDIT SUISSE BULKS UP IN CHINA RESEARCH
Credit Suisse has hired 11 Hong Kong-based research analysts to strengthen its China equity research, including four sector heads.
The hires were made in recent months and are dedicatetd to covering China, a company spokeswoman said. She declined to be more specific on when the new sector heads took up the roles, how many of the roles were new and whether any were replacements for staff who had departed.
Thomas Chong has joined as head of internet for non-Japan Asia, with a focus on major Chinese internet companies. He was previously the head of China internet at Citi, according to his LinkedIn profile.
Charlie Chen, Serena Shao, Yang Luo have joined as research heads for consumer, healthcare and basic materials in China respectively. Chen previously covered the small cap sector at Macquarie Bank, Shao was the former head of China healthcare research at CLSA, while Luo joined from Credit Suisse.
Besides the four, seven other analysts have also joined the Swiss bank covering a range of sectors in China. All of them are based in Hong Kong.
JANUS HENDERSON HIRES SE ASIA SALES MANAGER
Janus Henderson has appointed a new manager to its wholesale distribution team in Southeast Asia.
Darius Ang (pictured) joined the UK company as Singapore-based sales manager of wholesale distribtion on October 17, a spokesman confirmed. Ang will cater to wholesale distribution clients in Southeast Asia, the spokesman added.
His role is a new one and some of his duties had been split between existing members of the team, the spokesman said. He reports to Wong Hur-Ming, Singapore-based head of wholesale distribution and global financial institutions for Southeast Asia.
Ang was most recently intermediary sales manager at Invesco in Singapore. Invesco declined to comment on his departure.
FORMER SINGAPORE PRESIDENT JOINS GIC
Singapore sovereign wealth fund GIC has appointed the country's former president as director and special adviser.
Effective January 1, Tony Tan will take up the new role in which he will focus on expanding and strengthening GIC’s relationships with institutions, state leaders, and business executives to further the fund’s business interests. He sits on the board of directors, a spokeswoman said.
Tan left the office of president in August 2017 and was succeeded by Halimah Yacob.
HEIDRICK & STRUGGLES POACHES PARTNER FROM RIVAL
Headhunter Heidrick & Struggles has poached a partner from US rival Russell Reynolds Associates.
Effective October 12, Anny Kwok was appointed as Hong Kong-based partner in financial services practice. She focuses on private equity and alternative asset management clients in Greater China.
Kwok will report to Frazer Wilson, regional managing partner of financial services practice for Asia Pacific and the Middle East. It is a newly created role, a company spokeswoman said.
Kwok was most recently an executive director at Russell Reynolds, according to her LinkedIn profile. Russell Reynolds declined to comment on her departure.
Other people news reported by AsianInvestor in the past week: