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.