Weekly round up of people news, Dec 13
BENJAMIN DENG JOINS SUN LIFE ASIA EXECUTIVE TEAM
Sun Life has appointed Benjamin Deng to join the Asia executive team as president, Asia asset management, effective January 1.
In the newly created role, Deng will report directly to Manjit Singh, president of Sun Life and Steve Peacher, executive chair of SLC Management, the company’s institutional asset management business.
Deng will be responsible in leading Sun Life’s insurance and asset management businesses in Asia as well as the company’s investment management strategy and operations.
Previously, Deng worked at Ping An Insurance where he was group chief investment officer. In his role, he was responsible for group-wide insurance investment management with $740 billion in AUM.
Prior to that, Deng held roles as group chief investment officer at China Pacific Insurance and group head of investment solutions and derivatives at AIA.
SARAWAK STATE WEALTH FUND NAMES FIXED INCOME HEAD
Malaysia’s Sarawak state sovereign wealth fund has appointed Reza Baharin as head of fixed income.
Prior to joining the fund, Baharin worked at fund manager Permodalan Nasional Berhad where he was most recently head of fixed income for more than five years. Before that, he worked at Bank Negara Malaysia for over 14 years.
Earlier this year, the fund hired Rahmat Yusuf from Hong Kong securities firm CLSA as its first CEO.
Sarawak set up the wealth fund with an initial amount of 8 billion ringgit ($1.71 billion) in November 2022.
The wealth fund is overseen by a board of guardians and chaired by formal federal court judge Sulong Matjeraie.
CPPIB ASIA PE HEAD EXITS FOR ABU DHABI ROLE
Frank Su has departed Canadian pension giant CPP investments (CPPIB) as Asia private equity head to join Abu Dhabi Pension Fund as global head of private equity, effective next month.
Based in Abu Dhabi, Su leaves Hong Kong after an 11-year tenure at CPPIB where he managed Asian private equity investments. His new role expands his responsibilities to global capital deployment.
The move follows CPPIB's internal restructuring, where Caitlin Gubbels was promoted to lead the global private equity group, replacing former head Suyi Kim who departed after 17 years.
Su joins a growing exodus of Hong Kong-based finance professionals to the Middle East, including Geoffrey Lai, who left his Managing Director position at BOC International Holdings to become CEO of a Public Investment Fund subsidiary in Saudi Arabia.
This transition comes as CPPIB reduces its China exposure, having halved its yuan investments to 5% of assets as of March 2023, down from 10% in 2022.
AWARE SUPER BOLSTERS INFRA TEAM
Aware Super has made two infrastructure team appointments.
Kate Hundleby joins the Sydney office as an investment analyst from ATLAS Infrastructure Holdings, where she worked as an execution associate.
Her previous experience includes three years at JP Morgan as a markets business control manager.
Michelle Castro has relocated to London as a senior investment analyst, focusing on European direct and co-investment deals.
Castro's background includes advisory roles at EY in power, utilities, and transport sectors, plus analysis work in banking, life insurance, and FMCG.
PGIM INVESTMENTS ANNOUNCES NEW SOUTHEAST ASIA HEAD
PGIM Investments has appointed Brenda Leow as head of Southeast Asia, effective immediately. Singapore-based Leow will report to Jessica Jones, head of Asia.
In her new role, Leow will lead the wholesale sales and distribution of the firm’s investment strategies across key markets in Southeast Asia. She will also be responsible for expanding the firm’s partnerships with private banks, family offices, wealth managers and global financial institutions in Asia.
Leow brings more than 20 years of experience in the asset management industry and was most recently head of business management at SBI Digital Markets.
Prior to this, she spent close to a decade at Natixis Investment Managers and last served as head of wholesale and retail sales for Southeast Asia. She also held roles at Fullerton Fund Management, Deutsche Asset Management, and SG Asset Management.
BNY APPOINTS HEAD OF GLOBAL MARKETS TRADING FOR APAC
BNY has appointed Ashvin Parkash as head of global markets trading for Asia Pacific, based in Singapore.
Parkash will report to Jason Vitale, global head of markets trading, and Nelius De Groot, head of markets international.
With 25 years of industry experience, Parkash joins from Nomura where he led electronic distribution for fixed income and FX. His career includes senior roles at BNP Paribas, Citibank, and Lehman Brothers.
In his new position, Parkash will focus on expanding BNY's global markets trading services across the APAC region.
ALLIANCEBERNSTEIN NAMES INSURANCE HEAD FOR EMEA & APAC
AllianceBernstein has appointed Bob Sharma as head of insurance, EMEA & APAC, Client Group.
Based in London, Sharma will oversee the firm's strategic relationships with insurance clients across both regions.
Sharma brings over 25 years of asset management experience, most recently serving as head of EMEA Insurance at Wellington Management.
His career includes positions at State Street Global Advisers, Abbey National, and Tower Trust Asset Management.
The appointment aligns with AllianceBernstein's strategic focus on expanding its insurance business.