People Moves: Former GPIF CIO Eiji Ueda lands at Apollo
Japan’s Government Pension Investment Fund ex-CIO Eiji Ueda will lead Apollo's APAC operations; Allianz promotes Ritu Arora to India country head; Future Fund hires Kay Stuart to lead energy transition; and more.
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APOLLO APPOINTS EIJI UEDA AS PARTNER, APAC HEAD
Global asset manager Apollo has appointed Eiji Ueda as a partner and head of Asia Pacific, succeeding Matt Michelini, who will assist in the transition before moving to a new, broader role within the firm next year.
Ueda is tasked with capitalising on the region's evolving market to drive the next phase of Apollo's expansion, which has more than doubled its Asia-Pacific team from 80 to over 150 professionals.
Eiji Ueda
Ueda was most recently CIO of Japan’s Government Pension Investment Fund (GPIF), one of the world's largest pension funds. Prior to that, he held senior roles at Goldman Sachs.
Ueda expressed enthusiasm for the opportunity, highlighting Asia's vast growth potential and his aim to position Apollo as a leading partner.
ALLIANZ APPOINTS INDIA COUNTRY HEAD TO DRIVE GROWTH
Global insurer Allianz has promoted Ritu Arora to country head for India.
Arora, who was previously the Singapore-based CEO and CIO of Allianz Investment Management in Asia Pacific, brings a deep understanding of the local market from her prior role as an adviser to the Allianz SE Board on India.
She is now tasked with spearheading the company's comprehensive growth strategy in the country.
Before joining Allianz, Arora was a founding member of PNB MetLife and Canara HSBC Insurance.
Ritu Arora
In her most recent role as Asia CIO, she managed $50 billion in assets across 12 countries, significantly increasing Allianz's investments in Indian public markets and private assets.
Her appointment follows the recent binding agreement between Allianz and Jio Financial Services to form a 50:50 domestic reinsurance joint venture, with plans for further collaborations in the general and life insurance sectors.
FUTURE FUND BOLSTERS ENERGY TRANSITION TEAM WITH DIRECTOR HIRE
Australia’s Future Fund has hired Kay Stuart to lead its energy transition strategy.
Sydney-based Stuart joins the sovereign wealth fund as executive director of energy transition and will be part of its real assets team. She arrives from the ASX-listed APA Group, a major energy infrastructure business with a portfolio valued at over $27 billion in gas, electricity and renewable assets.
Kay Stuart
In her most recent role as general manager of corporate development and investments at APA Group, Stuart was responsible for key transactions, including the acquisition of the Basslink electricity interconnector and leading the bid for the Central-West Orana Renewable Energy Zone.
Her experience also includes senior positions in investment banking, where she focused on infrastructure mergers and acquisitions at RBC Capital Markets and Royal Bank of Scotland.
DIRECTOR HELEN ROWELL TAPPED FOR ART CHAIR
Australian Retirement Trust (ART) has named Helen Rowell as chair, effective November 21.
She will replace Andrew Fraser, who announced his retirement in August after a decade of service on the board of ART and its predecessor fund Sunsuper.
The appointment marks the second major executive change for the fund in recent months, following the September departure of CEO David Anderson, who was succeeded by Kathy Vincent on October 1.
Helen Rowell
Rowell, who has been an independent director of ART since April 2024 and chairs its risk committee, brings over 20 years of senior experience from the Australian Prudential Regulation Authority, including a decade as an executive board member and deputy chair.
PRUDENTIAL FINANCIAL APPOINTS JAPAN PRESIDENT, CEO
Prudential Financial has promoted Brad Hearn to president and CEO of Prudential Holdings of Japan.
Hearn, who previously held the role of COO for Prudential's Japan business, brings extensive leadership experience from within the company.
Brad Hearn
He was previously president of Prudential Advisors, the firm's US retail and advice business, where he gained insight into client-facing operations and strategic management. He joined Prudential in 2018 as executive vice president of business consulting for the independent advisor services unit at LPL Financial.
QBE RE TAPS ASIA HEAD TO ENHANCE REGIONAL EXPANSION
QBE's reinsurance arm QBE Re has appointed Cindy Foo as head of Asia, Treaty, effective December 1.
Based in Singapore, Foo will report to Abdallah Balbeisi, executive director of Europe and growth markets, and will be tasked with driving the firm's treaty reinsurance footprint throughout Asia, with the exception of Japan.
Cindy Foo
Foo brings more than 20 years of reinsurance experience to the role, with a career that includes senior underwriting and client management positions at reinsurers Berkley Re Asia, Asia Capital Re, Swiss Re, and Munich Re. She was most recently head of underwriting and branch manager at Berkley Re Asia.
WELLINGTON MANAGEMENT APPOINTS HEAD OF PRIVATE INVESTMENTS PORTFOLIO MANAGEMENT
Wellington Management has appointed Michael Trihy as head of portfolio management for venture growth evergreen private investments.
In this newly created role, Trihy will spearhead the expansion of the firm’s evergreen private investing capabilities tailored for private wealth clients, overseeing portfolio construction and capital allocation across various investment avenues, including direct growth ventures, secondaries and select fund investments.
Michael Trihy
Trihy was most recently director and portfolio manager at Bow River Capital, developing their evergreen private-markets platform and managing portfolio activities. Before that, he served as a portfolio manager at Partners Group, focusing on portfolio construction for evergreen products and custom accounts, along with previous positions at Red Rocks Capital and FirstBank.
PGIM EXPANDS AUSTRALIAN REAL ESTATE BUSINESS WITH TWO APPOINTMENTS
PGIM, the global asset management arm of Prudential Financial, has announced significant enhancements to its Australian real estate operations with the hiring of two industry veterans. Sam Mellor has been appointed as head of real estate debt for Australia, while Stuart Carr will take on the role of head of real estate equity, starting in December.
Sam Mellor
Both Mellor and Carr will report to Steve Bulloch, head of PGIM's real estate business in Australia.
These appointments aim to strengthen PGIM’s debt and equity platform as the firm looks to capitalise on growth opportunities in the Australian market.
Mellor was previously head of Europe and Asia Pacific real estate credit at Barings Asset Management, where he developed its European credit platform and established its real estate credit business in Asia Pacific.
Stuart Carr
Carr previously served as head of investment strategy and origination at Dexus, where he expanded the alternatives business and managed fund deployment across various sectors.
TYNDALL AM EXPANDS SMALL CAPS TEAM WITH NEW DEPUTY PORTFOLIO MANAGER
Tyndall Asset Management has appointed Scott Hudson as deputy portfolio manager for its Australian Small Companies Fund.
In this role, Hudson will collaborate closely with portfolio manager James Nguyen, who retains overall responsibility for the fund’s strategy.
Scott Hudson
Hudson joins Tyndall AM from MST Financial, where he served as a senior research analyst. Prior to that, he led the small-cap team at CLSA, covering a diverse array of industry sectors. His experience also includes senior positions at Citibank Australia and Morgan Stanley’s London office, which gave him a global perspective and strong analytical skills.
INDUS CAPITAL PARTNERS WELCOMES PARTNER AND REPRESENTATIVE IN TOKYO
Asia Pacific equities investment firm Indus Capital Partners has appointed Makio Inui as partner and representative in its Tokyo office, effective October 1.
Makio Inui
Inui, previously the managing partner and head of Japan at Soul Ventures, will play a key role in engaging with the firm's Japanese portfolio companies, focusing on enhancing corporate governance and driving long-term value creation. He will also oversee operations in the Tokyo office.
Inui has previously served as CFO for startups like Paidy, focusing on fundraising and IPO preparations.
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