Weekly roundup of people news, June 4
HARVEST GLOBAL INVESTMENTS ASIAN EQUITIES HEAD DEPARTS
Harvest Global Investments' head of Asian equities June Chua has left the company this week, AsianInvestor can reveal.
She had served in the role for nine years in Hong Kong, according to her Linkedin profile. Harvest declined to comment on Chua's departure or who would oversee her responsibilities.
Prior to Harvest, Chua was the vice president and portfolio manager for Asian Equities with PineBridge Investments, which renamed from AIG Investments in Hong Kong for four years.
Ricky Tang, the deputy head for multi-asset product for North Asia at Schroders, is stepping down to join another global asset management firm, AsianInvestor can reveal.
A Schroders spokesperson provided AsianInvestor with a statement in response to questions, which noted that Tang had resigned “for personal reasons”.
“We thank Ricky for his contributions to Schroders, and we wish him all the best in his future endeavours,” the statement added.
Sources say Tang is moving to another multi-asset role with a global asset management firm and is slated to start in a few weeks. Tang declined to comment.
Tang has been with Schroders for nine years, starting out as a product executive in the multi-asset team and rising to become deputy head. He was previously employed at AXA Asia, BEA Union Investment, and FactSet Resarch Systems.
SINGAPORE'S CPF APPOINTS CHAIR
Singapore’s Central Provident Fund (CPF) Board appointed Yong Ying-I as its new chair, effective July 1.
Yong will replace Chiang Chie Foo, who has been the board's chairman since July 2013. Chiang remains a senior adviser at the ministry of defence and chairman of national water agency (PUB) according to both entities' websites.
Yong is currently permanent secretary at the ministry of communications and information. She has previously held permanent secretary positions at the public service division, the ministry of health and ministry of manpower.
CPF also announced the addition of Toh Hwee Tin, director of industrial relations at the National Trades Union Congress and executive secretary of the Food, Drinks and Allied Workers Union to the board for a two-year term from July 1. Three other members were reappointed for a two more years.
AMUNDI HONG KONG NAMES NEW CEO
Amundi Hong Kong on June 2 announced the appointment of Kerry Ching as chief executive officer. She joins Amundi on June 1 and reports to Xiaofeng Zhong, chairman of Amundi Greater China, the firm told AsianInvestor.
Ching’s role is newly created as Amundi continues to expand and develop across Asia. She is responsible for accelerating and amplifying Amundi’s business activities in Hong Kong, at a moment when Hong Kong is seeking to better develop its wealth management segment, Amundi told AsianInvestor.
Her most recent role prior to Amundi was managing director at AMP Capital Asia from 2012 to 2019 where she was responsible for business development.
Ching has over two decades of experiences in financial industry across different markets in Asia. From 1999 to 2012, she was the country head at FIL Investment Management (Hong Kong), managing director at UBS Global Asset Management in Hong Kong, and was the chief executive officer at Invesco Hong Kong.
MAS RENEWS MD AND CHAIR TENURES
The Monetary Authority of Singapore has renewed Ravi Menon’s tenure as managing director and member of the board of directors for a further two years. His appointment extends until May 31, 2023.
Menon was first appointed managing director in 2011. He was previously permanent secretary at the ministry of trade and industry and deputy secretary at the ministry of finance.
Tharman Shanmugaratnam, senior minister and coordinating minister for social policies was also re-appointed as chair of the board for a further term of three years, to 31 May 2024.
MAS also announced the appointment of finance minister Lawrence Wong and former PwC partner Deborah Ong to its board for three years to 31 May 2024. Wong also replaces Lim Hng Kiang as deputy chair following the latter’s resignation. Kiang remains a member of the board.
Minister for health Ong Ye Kung also stepped down on May 31.
George Crosby has been promoted to become the general manager of portfolio completion by the Guardians of New Zealand Superannuation, the Crown, the entity that manages the NZ$57.32 billion ($40.96 billion) NZ Super Fund.
The new role requires Crosby to implement NZ Super's reference portfolio, currency overlay, rebalancing and liquidity management, along with being responsible for several internal investment mandates with a credit and arbitrage focus.
He replaces Mark Fennell, who was appointed to the new role of general manager for risk earlier this year. They will both take up their new roles on 5 July.
Crosby is currently head of portfolio investments and has been with the fund since 2008. Before joining the Guardians he traded various derivatives books at Westpac, BNP Paribas and Toronto Dominion Bank in Wellington and London.
The Guardians will commence a recruitment process shortly for the role of head of portfolio investments, NZ Super said in a press release.
GAM Investments has appointed Sophie McFadyen as senior manager of institutional business. She is based in Sydney and reports to Australia head Alex Zaika.
McFadyen joined GAM on May 24 from BlackRock, where she spent six years in the client business team, with a focus on institutional and wealth clients in Australia and New Zealand. Prior to that, she spent five years at Credit Suisse in prime services.
The appointment is reflective of GAM’s plans for growth in Australia and New Zealand as McFadyen has been tasked to further expand GAM’s local presence and deepen GAM’s relationships in those markets. The role is newly created and is an expansion of the team, a GAM spokesperson said.
Northern Trust on June 1 announced it has named Angelo Calvitto to lead its asset servicing business across the Asia-Pacific region. He will start the new role on July 1, and report to Peter Cherecwich, president of corporate and institutional services, a spokesperson of Northern Trust told AsianInvestor.
He succeeds William Mak who is retiring from the role after 11 years in Singapore. Calvitto was most recently country head for Northern Trust in Australia, which will be replaced, and the firm will announce in due cource, the spokesperson said.
From his Melbourne base, Calvitto will be responsible for the development of Northern Trust’s asset servicing business serving institutional clients across central banks, sovereign wealth funds, public pension funds, government agencies, investment management firms, insurance companies and other large sophisticated global institutions, the company said in a press release.
Calvitto joined Northern Trust in 2008, and has more than 30 years global custody services experience and has held positions in operations, investment administration, fund services, relationship management and sales in both Australian and UK markets.
Prior to that, Calvitto worked for ANZ Custodian Services and State Street.
JP Morgan Asset Management (JP Morgan AM) appointed Tomomi Shimada as lead Asia Pacific sustainable investing strategist, effective June 1.
Based in Hong Kong, Shimada reports to global head of sustainable investing Jennifer Wu, who is based in the UK.
Shimada was most recently Europe, Middle East and Africa (Emea) sustainable investing strategist at JP Morgan AM in London. She has relocated to Hong Kong for the new role, a spokesperson said.
Since joining JP Morgan AM in 2010, she has held a variety of investment stewardship and client adviser roles in London and Tokyo.
The spokesperson said this is a newly created role created to support continued expansion of the firm’s commitment to sustainable investing and better support Asia clients with in-region resources. Since mid- 2020, the firm has hired or relocated five new team members.
JP Morgan AM is recruiting to replace her prior role as Emea Sustainable Investing Strategist, the spokesperson said.
BROADRIDGE HIRES NEW HEAD FOR ASIA PACIFIC
Broadridge Financial Solutions, an investment data provider, announced the appointment of Ian Strudwick as managing director, head of Asia-Pacific on May 31, effective immediately.
Strudwick is based in Singapore and reports to Samir Pandiri, president of Broadridge International. He will lead Broadridge’s expansion strategies in Asia, and will be responsible for driving sustained growth of the firm in its key Asia Pacific markets of Singapore, Hong Kong, Australia and Japan.
His appointment comes as part of Broadridge’s strategy to capitalise on opportunities for strong business growth in the post-pandemic recovery, the firm said in a press release. The firm did not respond to requests for more details.
Strudwick joined from TD Securities, where he was most recently managing director and head of global operations and business services for Asia Pacific for three years. TD Securities did not respond to requests for comment.
He has also worked in multiple roles with investment banks RBS and NatWest Markets in Singapore over 15 years.
CITI IDENTIFIES NEW HEAD OF FAMILY OFFICE ADVISORY
Citi Private Bank appointed Faye Ong as head of family office advisory based in Singapore. Her appointment is effective June 1, a spokesperson confirmed.
Ong reports to Bernard Wai, Asia Pacific head of private capital group, and and Lung-Nien Lee, South Asia head and chairman.
The spokesperson said this is a new role but declined to comment on who had overseen family office advisory before its creation.
Ong was most recently South Asia head of wealth planning at Union Bancaire Privee (UBP). She begun her career at Citi in 2005 as a wealth management associate.
UBP did not respond to requests for comment.