The US fund house has seen the long-standing member of staff move on, but her next move is unclear.
The US asset manager has eliminated the role, resulting in the departure of Celestine Khoo.
UK-based Newton Investment Management, which runs several funds with Asia exposure, has hired a new head of dealing to replace Anthony Russell.
BMO Global AM names institutional sales head; WMA hires CIO; Manulife splits distribution, marketing roles; Everstone hires India exec; Mirae Asset moves ETF exec to HK; Vontobel WM adds in HK; Lumen hires former UBP MD; PGI adds in Australia; and Natixis AM names new CEO.
Principal Global Investors was the third fastest growing global fund house by Asia-Pacific assets in the latest AI100 list, driven by flows in Japan and into income-related strategies.
Principal Global Investors has appointed Celestine Khoo to drive its institutional business in the region. She was formerly head of external fund management at Singapore's central bank.
Principal Global Investors is also considering applying for a WFOE licence in China and is looking to invest in Asia offshore fund distribution, the asset manager's chief executive tells AsianInvestor.
Recent moves by Singapore's bourse should help boost liquidity, says Huw Gronow of Principal Global Investors. Meanwhile, the firm may look to trade equity derivatives and frontier markets.
The firm names Kirk West in a new role as head of international offices. He also replaces Andrea Muller temporarily as Asia chief as she relocates to the US, but he will seek a new Asia CEO as well as more third-party resources.
Regulators' global clampdown on illicit fund flows has given compliance officers nightmares in 2014 and resulted in a limited supply of experts in anti-money laundering.
The US fund house has applied for a renminbi qualified foreign institutional investor licence and is talking up its parent's China joint venture, despite difficulties encountered by other mainland JVs.
Structural weakness born of China’s 1990s industrialisation will be exposed when the US Federal Reserve removes its stimulus measures and the dollar strengthens, warns the chief global economist at Principal Global Investors.