The new head of Korea Investment Corporation is moving to implement reforms at the $90 billion sovereign wealth fund after his predecessor violated internal guidelines.
Former World Bank executive Eun Sung-Soo is the new chairman and CEO at Korea Investment Corporation, after 'Hank' Ahn Hong-chul quit amid reports of improper conduct.
‘Hank’ Ahn Hong-chul, chairman and chief executive of Korea Investment Corporation, may have quit due to a report alleging improper conduct, according to local media.
Ahn Hong-Chul has reportedly resigned as president and chief executive of sovereign wealth fund Korea Investment Corporation, with sources unsure as to reasons behind the move.
Choo Heung-Sik has made the jump from head of reserve management at the Bank of Korea to overseeing investments at the country's sovereign wealth fund.
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.