Weekly roundup of people news, Jan 25
CHARLES KWOK TO LEAVE SSGA
Charles Kwok, managing director for institutions and intermediaries, will be leaving State Street Global Advisors, a spokeswoman confirmed to AsianInvestor. His SFC licence expired on January 21.
His responsibilities will be absorbed by members of the Asia business team, the spokeswoman added. AsianInvestor understands that he reported to June Wong, head of Asia ex-Japan at SSGA.
Kwok joined the US asset manager in March 2016, according to his LinkedIn page, which also shows that he has previously worked for Indosuez, UBS and AllianceBernstein.
UBS AM REPLACES APAC HEAD
UBS Asset Management has appointed Raymond Yin as head of the Asia Pacific, in addition to his role as head of China onshore.
He replaces Rene Buehlmann, who has decided to take a sabbatical and intends to take on a new opportunity at UBS upon his return, a media statement said.
Yin, whose appointment is effective February 1, will remain in Shanghai and report directly to Ulrich Koerner, Zurich-based president of UBS AM.
He will also join the UBS AM executive committee, UBS group Asia Pacific executive committee and the UBS AM client coverage management committee upon assuming the new role.
VALUE PARTNERS LAYS OFF STAFF
Value Partners has laid off a portion of its staff, including some senior executives, following a challenging few years for the Hong Kong-based asset manager.
The firm has been looking into ways to streamline operations and optimise resources in recent months and “a small number of staff” from the business areas identified were affected by this exercise, a company spokeswoman told AsianInvestor.
Media reports said Value Partners laid off 10% of its staff, including head of sales Eric Poon ,who joined Value Partners only a year ago. Value Partners declined to respond to an AsianInvestor query on whether Poon had been axed.
Meanwhile, the regulatory licences for Mak Ling-kai, co-managing director of quantitative investment solutions and senior portfolio manager, and assistant fund manager Yu Chunmei expired on January 17. The firm declined to comment on whether they had left.
The latest changes follows substantial staff upheaval at the firm in the past couple of years, including a shakeup of senior personnel following the appointment of Au King-Lun as CEO in December 2016.
SUN LIFE IM HIRES FORMER FIDELITY ASIA FIXED INCOME HEAD
Sun Life Investment Management has named Olivier Szwarcberg as Asia head of research.
He replaced Nguyen Tieu-Bich, who has left Sun Life, a company spokeswoman told AsianInvestor. AsianInvestor could not ascertain Nguyen's next move.
Szwarcberg started the Hong Kong-based role on January 7, and has dual reporting lines to Sancho Chan, Asia chief investment officer at Sun Life, and David Hamlin, senior managing director for North American credit research at Sun Life IM.
Szwarcberg is responsible for leading Sun Life IM’s credit research, focusing on credit cycle positioning.
He was previously with Fidelity International as Hong Kong-based head of Asian fixed income. A Fidelity spokeswoman said porfolio manager Bryan Collins had replaced Szwarcberg after his departure, but declined to comment on when Szwarcberg left.
BARING PE ASIA NAMES MD FOR REAL ESTATE
Baring Private Equity Asia has appointed Paul Gately as managing director for real estate.
He took up the Sydney-based role this month and reports to Mark Fogle, head of real estate. It is a newly created role and Gately works alongside the existing team to source and execute investments in Australia, a company spokesman said.
He was previously the head of Australia real estate fund at CLSA real estate, according to his LinkedIn profile. CLSA declined to comment on his departure.
METLIFE NAMES AUSTRALIA CEO
MetLife has announced the appointment of Richard Nunn as its new chief executive for Australia, effective May 1.
Vince Watt, chief financial officer of MetLife Australia, will continue as acting chief executive in the interim.
Nunn replaces Deanne Stewart who left in August last year to join First State Super.
Nunn will join the insurer from Adelaide-headquartered Statewide Super. A Statewide Super spokesman told AsianInvestor that Nunn will leave the superannuation fund on February 28.
The spokesman said the fund has an established succession plan in place developed by the leadership team and approved by the board, but did not provide further details.
BLACKROCK NAMES NEW APAC INVESTMENT STEWARDSHIP CHIEF
BlackRock has named Amar Gill as its head of investment stewardship for Asia Pacific.
Gill is based in Hong Kong and reports to New York-based Michelle Edkins, global head of investment stewardship. He will succeed Pru Bennett upon her retirement and will officially assume his role at the end of January.
Gill joined BlackRock in late September 2018 from CLSA, where he was managing director of corporate finance and capital markets. CLSA declined to comment to AsianInvestor on Gill’s departure or whether a replacement has been found.
He now oversees a team of 12 specialists and develops BlackRock’s stewardship efforts across the region, a media statement said.
PRINCIPAL GI NAMES CHINA MD
Principal Global Investors has named Xin Shao as managing director for China, effective January 15.
Based in Beijing, Xin reports to Celestine Khoo, head of Asia ex-Japan, who is based in Singapore. His role is newly created and represents an effort to expand the investment firm’s business and product offerings in China, a spokesman said.
Xin joins from Beijing Jiumu Capital Management Company, where he was vice chairman. The firm could not be reached for comment.
Xin has also previously worked with Goldman Sachs Asset Management.
DEUTSCHE WM HIRES APAC ADVISORY AND INVESTMENTS SOLUTIONS HEAD
Deutsche Bank Wealth Management has appointed Tan Wei Mei as its Asia Pacific head of advisory and investment solutions.
She joins from Credit Suisse, where she was Asia Pacific head of portfolio solutions and private banking products and solutions since 2004.
Tan’s role is newly created to help the development of the bank's wealth advisory platform, a spokesman told AsianInvestor. However, he declined to comment on who had looked after Tan's job responsibilities before.
Credit Suisse did not respond to AsianInvestor queries on when Tan left the private bank or if a replacement had been named.
CBRE APPOINTS KOREA HEAD
Property services firm CBRE has named Don Lim as managing director of its advisory services in Korea, effective January 21.
Based in Seoul, Lim reports to Ben Duncan, head of North Asia advisory services, who has been managing CBRE’s Korea business since July 2018, a spokesman said.
The firm promoted Lim, who was previously head of capital markets, to lead CBRE's growth in Korea.
He wil continue to look after the capital markets business while CBRE searches for Lim's successor,
In his new role, Lim will lead the advisory services division in Korea consisting of capital markets, advisory and transaction services, property management, valuations and project management.
Other people news reported by AsianInvestor last week: