Weekly roundup of people news, Mar 1
CIC NAMES NEW CIO
China Investment Corporation (CIC) appointed Liu Haoling as vice chairman, president, and chief investment officer of CIC to replace Ju Weimin.
The February 26 announcement follows an announcement on January 20 that Liu was named the new deputy secretary of CIC’s Party Committee, replacing Ju, who is set to retire at the age of 60.
Liu joined CIC in 2008 and was most recently chief risk officer before taking on the new roles. Ju joined the sovereign wealth fund in 2015.
CIC also said that Xu Zhibin will no longer serve as a member of the executive committee of CIC.
Xu concurrently serves as executive vice president and head of equity management department II of Central Huijin. Previously, he was a board member and general manager of Shenwan Hongyuan Group, deputy general manager and chief risk officer of Shenwan Hongyuan Securities.
CIC didn’t respond to an enquiry on whether Xu will continue his role at Central Huijin, and who will succeed in his position in the executive committee.
BLACKROCK NAMES CHINA FUND MANAGEMENT COMPANY HEAD
BlackRock appointed James Chen as interim general manager of BlackRock Fund Management Company (BlackRock FMC), pending regulatory and board approvals, according to a February 24 announcement.
Based in Shanghai, Chen will report to Fan Hua, BlackRock’s head of China.
He is currently chief compliance officer for BlackRock FMC. His successor as CCO will be appointed in due course, the firm told AsianInvestor.
Chen succeeds Zhang Chi who has decided to leave the firm.
Prior to BlackRock, Chen had key legal and compliance leadership roles in China Asset Management Company, Bank of East Asia Beijing Branch and China Construction Bank.
Outgoing general manager Zhang joined the firm in 2020. Before that, he was deputy general manager at Taikang Asset Management. He also held senior markets and products roles at Everbright PGIM Fund Management Company.
BlackRock FMC, founded in 2020, is the first wholly foreign-owned mutual fund company in mainland China.
VANGUARD CEO TO RETIRE
Vanguard's chief executive and chair, Tim Buckley,said he will retire by the end of 2024, marking the end of his three-decade tenure with the investment firm.
Buckley's journey at Vanguard began in 1991, culminating in leadership roles as CEO and chair, during which the firm's assets under management grew to $9 trillion.
The board is in the process of identifying a successor, evaluating candidates from both inside and outside the company.
In related news, Vanguard's CIO Greg Davis has been promoted to president, expanding his leadership to cover the company's investment management and services, including the retirement business and financial adviser client services.
Davis previously headed Vanguard's fixed income group and the Asia-Pacific region.
He also serves on financial advisory committees for the US Treasury and Federal Reserve Bank of New York.
MALAYSIA’S MILITARY PENSION FUND LOSES ANOTHER KEY HEAD
Dayana Rogayah Omr, head of strategic asset allocation, has left Lembaga Tabung Angkatan Tentera (LTAT), the pension fund for Malaysia’s armed forces.
Mohamed Affandi Mohamed Noor stepped down as chairman of LTAT, effective February 8, according to an announcement. Mohamed, a retired general, was appointed chairman of LTAT in August 2021.
The LTAT board of directors announced on January 31 that the fund’s chief executive Ahmad Nazim Abd Rahman departed the same day.
LTAT, established in 1972, manages the pension fund for officers and members of other ranks of the Malaysian Armed Forces and its veterans. LTAT had assets under management of close to RM11.54 billion ($2.41 billion) at the end of 2023.
GAM HIRES JAPAN DISTRIBUTION HEAD
Keisuke Kubo has joined GAM Investments as head of distribution, GAM Japan Limited, effective March 1.
He will report to Takakiyo Iwamoto, representative director and president of GAM Japan, who held the head of distribution role from October 2023, a spokesperson told AsianInvestor.
Iwamoto took over the position of representative director and president in January, the spokesperson added.
Based in Tokyo, Kubo joins from Goldman Sachs Asset Management where he led the third party distribution business as vice president since 2019.
Goldman Sachs did not respond to AsianInvestor’s enquiries regarding when Kubo left the firm and who took over his responsibilities.
Kubo previously held roles at State Street Global Advisors and Mizuho Financial Group.
QBE INSURANCE GETS NEW ASIA CEO
Insurance firm QBE has appointed Rob Kosova as chief executive officer of its Asia business. Subject to regulatory approval, Kosova will assume his new role from April 1.
Based in Singapore, Kosova will report to Jason Harris, CEO of QBE International.
Kosova succeeds Jason Hammond, who announced his plans to return to his native Australia last year.
There will be a period of handover between the two to ensure a transition of leadership.
Kosova has been with QBE since 2018. most recently leading underwriters from the Australia Pacific division. He has a background in risk management and consultancy.
JLL NAMES GLOBAL LEAD OF INTERNATIONAL AND STRATEGIC CAPITAL
JLL appointed Tim Graham as global lead of international and strategic capital for its capital markets business.
In this newly created role, Graham will remain based in Singapore and report to Richard Bloxam, CEO of capital markets, and Stuart Crow, CEO of capital markets in Asia Pacific.
Since 2018, Graham has been based in Singapore as head of international capital coverage in Asia Pacific, a position he will retain.
Graham has also worked for LaSalle Investment Management, JLL’s independent real estate investment arm.