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.
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 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 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.
CPPIB, Omers and OTPP are busy hiring in the region for investment talent in credit, real assets and particularly equities. Omers is also planning to add office space in Singapore.
China Pacific Insurance appoints new chairwoman, COO; AMP's CEO to leave by third quarter; Robeco announces duo in senior China roles; Axa IM hires head of institutional sales for Asia; GLP names co-president for logistics; BlackRock sells onshore Korea distribution business; Income Partners poaches head of distribution from Vanguard; and more.
Swiss Re hires head of China asset management business; BlackRock deregisters its China WFOE; DWS names head of Apac insurance coverage; Amundi appoints first Asia sustainability officer; Manulife IM appoints senior portfolio manager for asset allocation; Morgan Stanley IM hires portfolio manager for A-shares; and more.
Although sustainable funds have seen increasing inflows amid growing environmental awareness and the spotlight on social issues due to Covid-19, the industry still lacks a standard definition of sustainable investing. Nicholette MacDonald-Brown, head of European blend equities at Schroders, explains the firm’s three-pronged approach of people, process and purpose.
The Singapore state fund recently bought into impact investing specialist LeapFrog, and is eyeing more investments that combine strong financial returns with a positive social effect.
Special purpose acquisition companies (Spacs) have gained ground as financing vehicles for companies looking to go public. But Asian family offices have yet to make many investments.
The Canadian and Korean asset management operations of two life insurers have agreed to jointly take advantage of rising institutional investor demand for Asian alternative assets.