The Swiss asset and wealth manager is shutting its Hong Kong operation, a move that came as no surprise to market observers. More industry closures and consolidation are expected.
Rothschild hires new HK chief; HSBC GAM names sales, distribution heads; TPG recruits Mumbai MD; Standard Life hires investment directors; Capital Group elects new chairman; and BNP names Vietnam head.
BlackRock hires Japan chief; Lim takes on fixed income head; Manulife bolsters FI team; Rothschild appoints China equity chief; TA hires China director; JP Morgan gets China research head; TH Real Estate grows SG team; and Everstone hires MDs.
The Swiss banking group has hired six relationship managers in Hong Kong, four of whom joined from HSBC Private Bank. But it has also lost staff recently.
Edmond de Rothschild Group is boosting its private banking capabilites in Hong Kong, and will look to add 10 staff in the next 12 months. It is also exploring opportunities for a Singapore office.
The Paris-based firm is seeking a distribution partner to help boost its AUM by over a third in Asia, as it prepares to launch a new Luxembourg fund.
Cash-rich European corporates are likely to seek acquisitions, which could drive up the stock prices of target firms, says the CIO of Edmond de Rothschild Asset Management.
The French bank has a new Asia business development team whose main focus will be asset management, and has boosted its stake in its Chinese fund-management joint venture.
The French firm’s Asia marketing manager will depart this week with his eye on two potential new roles.
Having signed a deal with Manulife, the French asset manager plans to sell at least 10 funds on the island by the end of the year, including thematic products.
The firm has named Lavin Mok as head of Asia sales and Bryan Yip as China equities manager and will transfer its Asia portfolio manager from Paris to Hong Kong.
The Asian convertible-bond market is still struggling to attract interest from new types of investors, despite a strong performance last year and a healthy pipeline of issues due in 2010.