SUN LIFE APPOINTS ASIA PRESIDENT
Canada-based insurer Sun Life has appointed Léo Grépin as president for Asia to succeed retiring Claude Accum.
Grépin is currently the Association of Southeast Asian Nations (Asean) president for Sunlife and will take up the role on December 1, while Accum will retire on December 31. Grépin will remain to be based in Hong Kong, according to a company spokeswoman.
As president for Asia, Grépin willl be responsible for Sun Life’s life, health and wealth management businesses in seven Asian markets – Philippines, Hong Kong, Indonesia, Vietnam, Malaysia, India and China, as well as the international high net worth business.
Sun Life will announce Grépin’s successor in his Asean president role in due course, the spokeswoman said.
M&G SETS UP APAC EQUITY TEAM
M&G Investments, the UK-based asset management unit of Prudential, has established a new seven-member Asia-Pacific equity team, effective September 4.
The team will be led by Dave Perrett and Carl Vine, co-heads of Asia Pacific, based in London. Vine will become the manager of four of M&G’s funds, including its Japan Fund and the Japan Smaller Companies fund. He suceeds Johan du Preez, fund manager, who stepped down from the role.
The firm’s announcement said that the four funds will be managed by Shane Kelly, manager of the M&G Global Recovery Fund, in the interim.
M&G’s new Asia-Pacific equity team has also added five other members in Singapore: Greg Moore as head of Asian equity dealing, Vikas Pershad as portfolio manager and analyst Eleanor Kim. Nick Cunningham, a senior analyst, is based in Hong Kong, while Valentina Luo is in London. They report to Perrett and Vine.
All of the above joined from Oxford-based Port Meadow Capital Management, which Vine and Perrett founded. The firm unwound mid-2019 and have returned all assets to investors. The spokeswoman said the decision to wind down the company was prompted by the decision to move to M&G.
MANULIFE IM APPOINTS NEW ASIA PRIVATE MARKETS HEAD
Manulife Investment Management has appointed Myron Zhu as Asia head of private markets, effective August 26.
Reporting to Stephen Blewitt, global head of private markets, and based in Hong Kong, Zhu will be responsible for enhancing Manulife’s private markets franchise in Asia, with a focus on developing and executing third-party strategies.
A spokesman told AsianInvestor that the Asia business was previously handled by the global team.
Until the end of June, Zhu was co-head of private equity for Asia Pacific at Aberdeen Standard Investments, according to a spokeswoman. Zhu’s responsibilities have been taken up by existing members of the Asia-Pacific and global private equity team at Aberdeen Standard Investments.
Before that, Zhu was head of alternative investments for Asia at JP Morgan Chase Bank and part of the private equity teams of DBS Bank in Hong Kong and AIG Capital Partners in New York.
CDIB CAPITAL NAMES HEAD FOR NEW BUYOUT GROUP
CDIB Capital, a Hong Kong-based private equity investor, has appointed Alex Ying as a managing director to head its newly created buyout group, according to a September 2 announcement.
Ying oversees mid-market buyout activities in Asia, particularly within Greater China. There are now more than 20 investment professionals on the ground contributing to efforts of the new buyout group, the spokeswoman said.
Ying joins from Rivendell Partners, which he founded and where he was managing partner, leading its buyout focus in Greater China. Rivendell declined to comment on his departure.
UOB AM EXPANDS INTO INDONESIA
Singapore's UOB Asset Management has extended its presence to Indonesia by acquiring a 75% stake in PG Asset Management.
Based in Jakarta, PGAM provides products and services to retail and institutional investors.
A spokeswoman told AsianInvestor that PGAM has around 25 staff, headed by Setyorini Wahyuningwidati, the president director. She will continue to lead the company following its acquisition.
CIMB PRIVATE BANKING HEAD DEPARTS
Carolyn Leng, the long-standing head of Malaysia's CIMB Private Banking, has reportedly stepped down from the role she has held since the business was launched in 2002.
Lawrence Yung, the former deputy head, will succeed her.
AsianInvestor could not ascertain where Leng might be going, and she did not respond to a request for comment sent via LinkedIn.
CIMB did not respond to emailed requests for confirmation or comment.
CREDIT SUISSE APPOINTS HEAD OF IMPACT ADVISORY
Credit Suisse has appointed James Gifford as its head of impact advisory, to advise its private wealth clients globally and drive the bank’s impact thought leadership initiatives, in a newly created role.
Gifford took up the Singapore-based position on September 3. He reports to Marisa Drew, London-based chief executive of the impact advisory and finance (IAF) department, with a regional reporting line to Bernard Fung, head of wealth planning services for Asia Pacific.
The IAF team is expanding with a view to being able to bring more products, services and advice to clients across the bank and Gifford’s appointment gives more breadth and depth to be able to do that, a company spokesman said.
Gifford was previously with UBS Global Wealth Management, where he was Zurich-based head of impact investing. James Purcell, Zurich-based head of sustainable investing in UBS Global Wealth Management's chief investment office, will take care of Gifford’s duties, AsianInvestor understands.
REALINDEX ADDS INVESTMENTS HEAD
Sydney-based systematic and emerging equities manager Realindex Investments (Realindex), has appointed David Walsh to the newly-created role of head of investments, starting from September 2 a spokeswoman told AsianInvestor.
Based in Sydney, Walsh takes over the investment responsibilities from chief executive Andrew Francis, whom Walsh will report to.
Prior to Realindex, Walsh was CIO at Sydney-based RF Capital. RF Capital did not respond to AsianInvestor’s inquries regarding a possible replacement.
Walsh was previously head of investments at Acadian Asset Management Australia, managing director and senior portfolio manager at BGI and head of research at SSgA Australia.
NORTHEN TRUST SHAKES UP APAC TRANSITION EFFORTS
Investment firm Northern Trust has appointed Mathew Cook to lead its transition management offering across Asia-Pacific as of August 21.
The Sydney-based role of senior transition manager is a newly created position to support Northern Trust's product expansion in the Asia Pacific region, a spokesman said. Cook will report to Craig Blackbourn, head of transition management for Europe, Middle East and Africa (Emea).
Cook joins Northern Trust from State Street, where he worked for the past nine years as a transition manager.
A State Street spokesman told AsianInvestor: “We have recruited a senior transition specialist in Sydney to replace [Cook] and will announce this appointment imminently."
Additionally, joining Northern Trust’s team of transition management executives in London is Robert Dixon, who most recently worked at State Street in Sydney as a transition manager, with responsibilities across Asia-Pacific.
Dixon had already relocated to London, prior to his hire into the Emea team in July this year. Like Cook, he will report to Craig Blackbourn.
Tan reports to Singapore-based executive director Michael Chaille. In his newly created role, Tan will be responsible for expanding the firm’s presence in Asia.
He was previously a consultant at US recruitment firm Spencer Stuart, according to his Linkedin profile. The firm did not respond to AsianInvestor’s request for further information.
Prior to that, Tan worked as head of Asia at research house Greenwich Associates, where he focused on investment banks and asset managers in the region.
DEUTSCHE WM HIRES CHINA ONSHORE HEAD
Deutsche Bank Wealth Management has appointed Jeffrey Peng as managing director and head of China onshore wealth management, effective September 2.
He is based in Shanghai and is responsible for developing and executing long-term expansion strategies in the local market, as well as advising on Greater China business for the North Asia region.
Peng reports jointly to Kanas Chan, Hong Kong-based head of North Asia wealth management, Feng Gao, chairman of Deutsche Bank (China) and China chief country officer, and Rose Zhu, president of Deutsche Bank (China). The bank declined to comment if the role was new.
Peng joined Deutsche Bank Wealth Management from Bank of Singapore, where he was managing director and head of strategic alliance. Bank of Singapore declined to comment on his departure.
Other people news reported by AsianInvestor in the last week: