In the first of a series based on our annual ranking of fund houses by Asia-Pacific assets, we unveil firms 76 to 100. Chinese companies dominate and are growing fast.
Hugh Young gets expanded role, UBS WM replaces SE Asia head, PGI adds in distribution, Credit Suisse rehires Stoehr, Old Mutal acquires AAM Advisory, Hong Leong group in reshuffle.
UBS WM's Asia head of global family office exits; Axa IM names Japan chairman; Bank of Singapore appoints head of advisory PM; Taiwan FSC replaces chairman; Invesco shuffles Mid East heads; Pictet AM poaches from Eaton Vance; Aberdeen creates insurance role; and more.
The new appointee is expected to start in March to succeed Corinne Cheok, who retired from the UK asset manager last September.
The UK fund house has poached from Nomura and Schroders with a view to expanding its institutional client base in Taiwan and its Islamic funds business in Malaysia.
The UK house, which has suffered outflows amid souring EM sentiment, has unveiled a new hire in Seoul in a drive to expand activities under its representative licence.
Market participants say they can see more consolidation amongst funds of hedge funds, despite signs of stabilisation in the industry.
Fund house saw net outflows of nearly £10 billion in second quarter as institutional investors reduced their exposure to Asia and emerging market equities. Despite a declining AUM, Aberdeen's CEO remains bullish.
Hugh Young, Aberdeen AM's Asia head, says he remains averse to investing in China A shares because of what he sees as poor-quality firms. But he admits that sitting out the equity boom has hit returns.
Investors should not assume that economic growth will naturally lead to higher returns, Aberdeen says. The asset manager has urged greater focus on interest rates, earnings and sentiment.
Martin Gilbert, CEO of Aberdeen AM, foresees partnerships and acquisitions between fund houses and financial technology firms, saying the spend on digital needs to be massive.
ANZ loses private banking chief; Aberdeen makes property hire; UBP's Asia head to leave; AMP makes multi-strategy changes; General Atlantic's SE Asia head departs; Mercer makes fiduciary promotion; SuMi Trust GAS gets new Ireland CEO; and Wealth-X appoints CFO.