CPPIB’S TED LEE TO RUN SBAI’S ASIA COMMITTEE
The Asia-Pacific committee of the Standards Board for Alternative Investments (SBAI) has elected Ted Lee of Canada Pension Plan Investment Board (CPPIB) as chairman and Danny Yong of Dymon Asia Capital as vice-chairman.
Lee replaces Chris Gradel, founder and CIO for absolute returns at Hong Kong-based alternative investment firm PAG, in line with a rotating chairman system. Gradel has run the committee for two years and will remain an SBAI member.
Yong is SBAI’s first Asia-Pacific vice-chairman. The post has been created because SBAI’s operation in the region has grown to a critical mass, a spokeswoman told AsianInvestor.
“The committee felt having this new role will allow them to support the industry as well as continue their expansion,” she said. “It also reinforces the SBAI’s message of asset managers and asset owners working closely together.”
Lee is a senior portfolio manager overseeing hedge fund exposure in Asia for CPPIB, the biggest Canadian state retirement fund with C$367 billion ($282 billion) under management.
Yong is chief investment officer and founder of Dymon Asia Capital, a Singapore-based alternative asset manager with $5 billion under management.
SBAI is a global standard-setting body for the alternative investment industry, supported by around 200 alternative asset managers and institutional investors, which collectively manage $3.5 trillion.
NCSSF NAMES DEPUTY HEAD
Chen Wenhui has been appointed by the State Council, China's cabinet, as deputy chairman of the National Council for Social Security Fund.
He will relinquish his position as the vice-chairman of regulator the China Banking and Insurance Regulatory Commission, the cabinet said in the same statement.
The State Council did not say the person Chen has replaced at NCSSF or who his successor will be at the financial regulator.
PGIM REAL ESTATE APPOINTS PM FOR CORE ASIA STRATEGY
US real estate investor PGIM Real Estate has named Vincent Chew as portfolio manager for its core investment strategy in Asia.
Singapore-based Chew started his role in early September, a PGIM spokesman said, and he reports to head of Asia-Pacific Benett Theseira.
The role is newly created, the spokesman said, as prior to the appointment the Asia core investment strategy was covered by various team members. Chew was hired to lead the Asia core investment strategy team, the spokesman added.
Most recently, he was director of Asia-Pacific investment management at Allianz Real Estate, the property investment arm of German insurer Allianz. The firm declined to comment on Chew’s exit date or whether a replacement had been appointed.
PGIM's appointment reflects a trend for international asset managers, such as US-based Nuveen, to build out their core property offerings and capabilities in Asia.
CAPITAL GROUP HIRES TWO INTERMEDIARIES EXECS
US asset manager Capital Group has announced two hires in its financial intermediaries business, one in Asia and one in Europe.
Henry Chan comes in as Hong Kong-based managing director of financial intermediaries for North Asia, while Nick Shaw has been appointed London-based managing director for global financial intermediaries.
Having started in his role on September 10, Chan works together with Joyce Wong, managing director of financial intermediaries for North Asia, to implement distribution strategy and strengthen relationships with financial intermediary clients, a Capital Group spokeswoman said.
He reports to Jeik Sohn, managing director of financial intermediaries for Asia.
Chan's role is newly created to address the growth of the financial intermediaries business, the spokeswoman said. Prior to Chan’s hire, Wong covered financial intermediares, the spokeswoman added.
Most recently, Chan was vice-president of private bank distribution at BlackRock, according to his LinkedIn profile. BlackRock declined to comment on his exit date, as well as whether a replacement had been appointed yet.
Shaw was most recently head of global financial institutions at Dutch fund house Robeco. Shaw left the role on June 15, and no replacement has been named yet, a Robeco spokesman said.
Christoph von Reiche, head of global distribution and marketing for Robeco, is covering the global financial institutions business in the interim, while head of Robeco UK Peter Walsh is covering Shaw’s former UK wholesale business responsibilities until a replacement is found, the spokesman said.
NIKKO AM SETS UP SUSTAINABILITY DEPT
Nikko Asset Management has established a corporate sustainability department to bolster its environmental, social, and governance (ESG) commitments both internally and in its investing.
Established on September 19, the department has three Tokyo-based staff, with broader support from marketing, investment and other departments, a company spokesman said.
The department is overseen by representative director and executive deputy president Junichi Sayato. The day-to-day operations are led by Stefanie Drews, global head of product and marketing and head of corporate sustainability. Both continue to hold the same job titles as they did before taking on the additional ESG duties.
Mashiro Matsuura will be internally transferred and become assistant vice-president in the corporate sustainability department on October 1. It is an administrative role and Matsuura will report to Drews, the spokesman said.
Matsuura was previously an administrator at the investment support and planning department at the project planning group. Who will succeed her has not yet been decided, the spokesman added.
BNY MELLON APPOINTS COUNTRY EXECUTIVE FOR CHINA
BNY Mellon has appointed Sam Xu as Shanghai-based country executive for China.
The appointment took effect on September 18. Xu reports to Gregory Roath, Singapore-based head of global client management for Asia Pacific.
He succeeds Robert Kung, who will be retiring following five years with BNY Mellon. The spokeswoman said his exact retirement date would be disclosed later.
Xu joins from Standard Chartered where he was Shanghai-based head of transaction banking for China, a position he left on July 12, a spokeswoman for StanChart said.
Ye Jiwei, now acting head of transaction banking and head of cash for China, will officially succeed Xu on October 1. Ye will report to David Koh, regional head of transaction banking for Greater China and North Asia, and Jean Lu, head of global banking for China, the spokeswoman said.
MANULIFE AM NAMES INDEPENDENT DIRECTOR
Manulife Asset Management has appointed Yvonne Sin as an independent director, effective this month.
Based in Hong Kong, Sin also joins the board’s audit and risk committee and the conduct review committee.
Sin has previously worked as the head of global pensions of the social protection unit at the World Bank, and an investment consultant at Willis Towers Watson. Manulife AM was not able to comment on who her most recent employer was.