Weekly roundup of people news, Sept 14

State Street names head of global markets for Apac; Natixis adds structuring specialist; JPM AM adds in ETFs, hedge funds; LGIM appoints Japan client solutions head; HK SFC names chairman, and more.
Weekly roundup of people news, Sept 14


US financial services firm State Street Corporation has named Michele Hardeman as head of global markets for Asia-Pacific.

Hong Kong-based Hardeman oversees the strategic direction, sales, services, and operations of State Street’s global markets business in the region.

She started her role in July, a State Street spokeswoman said, and she reports to Seck Wai-Kwong, chief executive of Asia Pacific, and Lou Maiuri, global head of global markets.

Hardeman replaces Colin Zhong, who left State Street in January, the spokeswoman said.

Most recently, Hardeman was Boston-based head of foreign exchange sales for State Street Global Markets. SSGM is now in the process of appointing a replacement for her, the spokeswoman said.

The firm did not respond to an AsianInvestor query on whether there was anyone covering her former duties in the interim.


French bank Natixis has hired Hoe Cheah-Kit from Japanese rival Nomura as an executive director of fixed income sales in its global markets division in Singapore.

Having started on September 4, he covers structured sales to clients in Malaysia and Singapore, including institutional investors and asset managers.

Hoe is an addition because the team is expanding, a spokeswoman told AsianInvestor, declining to provide figures for the size of the team or details of who had looked after that area in the past.

Hoe was previously an executive director of structured solutions and financing at Japanese bank Nomura in the same city for around four years. Nomura declined to comment on his departure.

He has also worked for Malaysian insurer Etiqa as head of product and alternative investments and overseen structured product teams at Malaysian banks AmBank and Mayban Fortis.


JP Morgan Asset Management has appointed Sean Cunningham as head of Asia ETFs, effective October 1.

In his newly created role, Cunningham will be based in Hong Kong and will be responsible for driving the growth of the firm’s ETF business across the region, the company said in a media statement.

Cunningham reports to Bryon Lake, head of international ETFs, and locally to Philippe El-Asmar, Asia head of beta strategies.

He joins from BlackRock iShares, where he most recently served as Asia Pacific head of capital markets. AsianInvestor understands Cunningham left in September.

A spokeswoman for BlackRock said the asset manager has consolidated the team under Abdelhamid Bizid, head of iShares product, platform and markets for Asia Pacific.

In another development, JP Morgan Asset Management has also expanded its Asia fixed income team in Hong Kong. It relocated portfolio manager Julio Callegari from São Paulo, Brazil to Hong Kong in August.

He is now a lead portfolio manager for Asia local rates and FX, responsible for overseeing the region's local sovereign bond investment strategy, currency strategy and security selection. 

Callegari was previously head of the Brazil fixed income desk for the emerging markets debt group.

In his new role Callegari reports to London-based Didier Lambert, managing director for emerging markets debt local rates and foreign exchange, as well as locally to Shaw Yann Ho, head of Asia fixed income, who was appointed to that role in February after leading the firm’s Asia credit team for several years.

Tony Xiao also joined JP Morgan Asset Management in August in a newly created role as Asia fixed income credit analyst, specialising in the oil and gas and industrials sectors.

He had previously held credit analyst roles with HSBC Global Asset Management and Taikang Asset Management. HSBC GAM did not immediately respond to queries from AsianInvestor.

Finally, the asset manager has hired Lyn Ngooi for the newly created role of hedge fund solutions investment specialist for Asia-Pacific clients, based in Singapore, effective September 11.

She reports to London-based Karim Leguel, also newly promoted to head of international investment specialist team, hedge fund solutions, on August 2018. 

Ngooi joins from APS Asset Management, where she had been a vice-president, strategy and business development, with client coverage responsibilities in Asia and Europe. APS AM declined to comment on the departure.

Before that, she also worked with Bain & Company and IDFC Capital.

The asset manager has four hedge fund investment specialists. Leguel was previously head of Europe, Middle East and Asia client strategy for hedge fund solutions and will not be replaced in his former role, a JPM AM spokeswoman told AsianInvestor.


UK asset manager Legal & General Investment Management has named Stephen Johnson as head of client solutions in Japan.

Stephen Johnson

Johnson is responsible for building up LGIM’s strategic relationships with Japanese clients, working alongside head of Japan Naru Ishida.

He started at the end of August, and is based in London in order to maximise collaboration between the investment and distribution teams in London and Tokyo, an LGIM spokeswoman said.

The role is newly created in order to strengthen the firm’s services for clients in Japan, who will continue to be supported by regional and international teams, the spokeswoman said.

Johnson reports to Sarah Aitken, head of Europe, Middle East, and Africa (Emea) distribution.

He was most recently assistant general manager with a focus on institutional investors in Europe, Middle East and Africa for Japanese financial services firm Sumitomo Mitsui Banking Corporation (SMBC) Europe.

SMBC did not respond to AsianInvestor queries on Johnson’s exit date and whether a replacement has been named.


French fund house Natixis Investment Managers has appointed James Hughes to lead its newly created Natixis Dynamic Solutions group.

James Hughes

Natixis Dynamic Solutions was created as a one-stop investment solution provider, including advisory, structuring, and fiduciary management services, to Natixis IM's group of affiliate investment managers, such as Ostrum Asset Management, Dorval Asset Management, and Loomis Sayles. 

Launched on September 10, the new group was formed through the consolidation of its former portfolio research and consulting group (PRCG) and the investment and client solutions (ICS) unit of Natixis IM affiliate Ostrum.

London-based Hughes will start his role in December, overseeing the development of the new business, and will report to Natixis IM chief executive Jean Raby, a Natixis IM spokesman said.

Deputy head Claire Martinetto, most recently project leader for Natixis IM’s international solutions initiative, is acting head of Natixis Dynamic Solutions until Hughes joins in December, said the spokesman.

He was most recently global head of strategic client solutions for Aberdeen Standard Investments.

Hughes left the UK asset manager in early September, an Aberdeen spokeswoman said. Ian McDonald, formerly deputy head of strategic client solutions, has been appointed as his replacement, she added.


Tim Lui

The Hong Kong Securities and Futures Commission (SFC) has named Tim Lui Tim-leung as its chairman for a three-year term starting on  October 20.

The appointment was officially made by Hong Kong Chief Executive Carrie Lam. Lui will succeed Carlson Tong, who will step down next month having chaired the SFC for six years.

Lui is a senior advisor at Pricewaterhouse Coopers, after he retired as tax partner at the accounting firm, a PwC spokeswoman said. He also holds various positions on various government bodies, including serving as a Hong Kong deputy to the National People's Congress, China's parliament.


Raffles Family Office has hired Joe Lam as a Hong Kong-based portfolio manager.

Joe Lam

He took up the role on September 5 and reports to Frederick Yung, CIO of the Hong Kong-based multi-family office, according to a spokesman.

It is a newly created role. Yung will be  responsible for duties previously taken up by Lam before he came on board. As assets under management grow, Yung needs extra help, the spokesman said.

Lam was previously a Hong Kong-based analyst at Samsung Asset Management, his LinkedIn profile shows. The Korean asset manager declined to comment on his departure.


UK asset manager Schroders has added Edward Young as a fund manager on its Asian fixed income team.

Edward Young

Young started his role in early September, a Schroders spokesman said, and he focuses on Asian and emerging markets credit.

He is based in Hong Kong and reports to Angus Hui, head of Asian and EM credit.

The role is newly created to deepen Schroders’ Asia and EM credit coverage, bringing the total size of the Asia fixed income team to 15, including eight fund managers, the spokesman added.

Young was most recently a portfolio manager in the discretionary portfolio management team at HSBC Global Asset Management.

HSBC GAM did not respond to AsianInvestor queries on Young’s exit date and whether a replacement had been announced yet.


Franklin Templeton Investments has appointed Sonal Desai as chief investment officer of its fixed income group, effective December 31. 

In this role, US-based Desai will oversee the firm’s corporate credit, emerging markets debt, bank loan, global aggregate, securitised, money market, multi-sector, municipal and local fixed-income strategies and teams, which manage a total of $157 billion in fixed income assets for investors around the world.

Desai will take over from Chris Molumphy, who will retire at the end of the year, the firm said in a press statement. Molumphy has been CIO of the fixed income group since 2000. Desai joined the firm in 2009 as director of research for Templeton Global Macro.

When Desai moves into her new role, Calvin Ho will take her place as director of research, and assume portfolio management responsibilities for a number of Templeton Global Macro strategies

Ho has been working as Desai’s deputy director of research, specialising in global macroeconomic analysis.


Singapore bank DBS has appointed Daryl Wong as executive director and head of its treasures private client programme in Hong Kong.

Daryl Wong

The treasures private client programme provides wealth investment services to clients with investible assets of HK$8 million ($1 million) and above.

Most recently, Wong was head of investment advisory and treasury sales in the consumer banking group and wealth management at DBS Hong Kong.

DBS declined to give AsianInvestor further details on the appointment such as Wong's starting date, his role responsibilities, who he reports to, who he is replacing, and whether a replacement had been appointed for his most recent role at the bank.


Bank J Safra Sarasin has appointed Mary Lee as managing director for client advisory for ultra-high-net-worth individuals, effective September 10. 

A spokeswoman said the Hong Kong-based position was new, adding that the bank was expanding its team of managing directors.

Lee will report to a team head covering Southeast Asia, but the spokeswoman declined to provide a name. She comes from Deutsche Bank, where she was managing director. AsianInvestor understands she left in August. Deutsche did not respond to AsianInvestor queries on her departure.

Other people news reported by AsianInvestor last week:

Matthews Asia to name China head in regional buildout

Ping An AM on quant buildout amid rising trend

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