Market opinion over the timing of tapering is divided, but even expectations of it are expected to divide better-placed North Asian markets from their South and Southeast Asian counterparts.
The French asset manager, which sources most of its Asian money from institutional investors, is turning its efforts to the retail business in Southeast Asia.
The private bank has named David Lam to lead its teams in Hong Kong, Greater China and the Philippines. He succeeds Ignatius Chong, who will focus on his role as HK market head.
Fidelity sees North Asia’s dominance as based on valuations, while Crédit Agricole favours Asean from an FX appreciation perspective – but fears a currency war has already started.
Desmond Liu has joined the firm in Hong Kong to build its business in Greater China and Korea. It comes a few months after he quit rival HSBC Private Bank.
Swiss private bank Clariden Leu has appointed Raymond Chung and David Louie as new co-heads of North Asia to replace Christopher Burgess.