The Australian fund house has poached from Deutsche Asset Management and Invesco to add to its private bank and intermediary sales teams for North Asia.
In the second of two articles on the impact of Europe's incoming Mifid II rules, which will affect how fund managers pay for research, bank teams are seen to be under threat.
First State Stewart Asia has changed its approach to paying for research, in an early indication that asset managers in the region will not be immune from looming EU rules.
The Australian pension fund aims to internalise more investment and expand its active asset allocation programme. It has hired a new custodian and fund admin provider as part of this plan.
Alexis Ng is leaving the firm after five years. She headed Southeast Asia along with wholesale and institutional distribution across Asia. The firm has promoted two senior executives.
The fund house has hired two more institutional salespeople in Asia, as it looks to attract flows into its multi-asset strategies, including by starting to target retail investors.