Permira's Asia chair to step down; StanChart recruits ex-SumiTrust executive; Manulife AM names Asia fixed-income CIO; Morningstar hires in sales; Loomis Sayles boosts EM team; Capital Group expands; Northern Trust opens in Korea; Alvarez & Marsal hires for transaction team; and Avaloq adds to team.
Northern Trust Asset Management has poached a senior salesman from UBS as the US firm looks to tap demand for inbound and outbound mainland investment, including from Europe.
William Mak assumes the role of Asia-Pacific chief to continue expansion across the region, as Teresa Parker is set to leave for the US.
Kevin Hardy is set to exit after nine years with Northern Trust to join BlackRock as head of its Asia-Pacific index equity team.
Monetary Authority of Singapore veteran William Mak switches US firms to a newly created role.
Agricultural Bank of China appoints ABN Amro Mellon Global Securities Services as global custodian.