Citi trailblazer Hannah Goodwin is heading quietly into the night, after going where no woman has gone before – and may never go again – in Asia prime brokerage.
Following his exit from Morgan Stanley, Ashley Jarvis will take on a newly created role as head of global prime brokerage consulting at Bank of America-Merrill Lynch.
A shift of executives sees Joseph Chang promoted to head of prime finance in Asia, taking over from David Murphy, who will oversee Citi’s prime operations in the US.
Asian managers turn in a benchmark-beating 4% gain in January, refuelling hopes of attracting much-needed investor inflows to the sector. Event-driven funds fare best.
Regional hedge fund managers end 2012 on a positive note, leading to expectations of greater capital inflows in the year ahead.
While China’s growth story is attracting greater investor allocations, managers are failing to deliver returns due to market volatility.
The bank poaches from rivals to strengthen its nascent prime broking franchise and its regional equities team.
William Egan joins as head of mandate sales for prime services in Asia, with more hires expected. He was Barclays’ head of FX prime brokerage and OTC clearing in Singapore.
The bank is targeting Chinese hedge fund start-ups and sees strong potential to leverage relationships with its private bank and investment banking clients.
Half a dozen executives from the firm's Asia prime brokerage team have taken flight over the past year, even as the business has recorded gains in market share.
The bank's niche fixed income and FX-focused platform will target macro, fixed income and foreign exchange hedge funds.
The newly created role signifies the UK bank's push into the crowded Asian prime brokerage market.