Weekly roundup of people news, March 10
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MPFA CHAIRMAN TERM EXTENDED
Ayesha Macpherson Lau has been reappointed Mandatory Provident Fund Schemes Authority (MPFA) chairman and non-executive director (NED) for another two-year term by the Hong Kong goverment.
The government also appointed four new non-executive directors to the MPFA board. They are retail businessman Karson Choi Ka-tsan, property heavyweight Dominic Pang Yat-ting, investment banker Levin Wang Lei, and public relations expert Fanny Wong Lai-kwan.
In addition, social workers as well as legislators Lam Chun-sing and Bill Tang Ka-piu, and two government official members, were reappointed as non-executive directors.
They replaced outgoing legislator Chan Kam-lam, businessman Bankee Kwan Pak-hoo, lawyer and lawmaker Jimmy Ng Wing-ka, and catering businessman Simon Wong Kit-lung.
All members will serve a two-year term from March 17, 2023, to March 16, 2025.
Lau was appointed by the Hong Kong government to oversee the city’s retirement saving system on March 17, 2021 for a two-year term. She started her career with KPMG in London before joining KPMG in Hong Kong, where was managing partner until September 2021.
In related news, MPFA also appointed two non-executive directors to the board of the eMPF Platform Company, a wholly-owned subsidiary of the MPFA.
The two newly appointed directors are legislator Rebecca Chan Hoi-yan and finance professor Jack Poon Sik-ching.
This follows the departure of NED Luzia Hung, former chief executive officer of Manulife Provident Funds Trust Company until July 2018.
The second director position is newly added, MPFA told AsianInvestor.
PRUDENTIAL HIRES RESPONSIBLE INVESTMENT MANAGER IN HONG KONG
Prudential has added Wang Enci to its responsible investment team as senior manager in Hong Kong.
Wang reports to Liza Jansen, head of responsible investment, who recently relocated from Hong Kong to Kuala Lumpur.
Wang joined Prudential in December 2022 from PwC Mainland China and Hong Kong, where she was manager for ESG investments and priorities for 18 months. Before that, she also worked at Global Risk Institute and Sun Life Financial.
The moves follow Prudential’s appointment of its new director of group ESG Diana Guzmán in January.
Based in Singapore, Guzmán joined Prudential on January 25, and reports to group chief financial officer James Turner.
Guzmán oversees Prudential’s ESG strategy and commitments, including responsible investment.
She will succeed Kerry Adams-Strump, who has been director of group ESG since 2020.
Adams-Strump will remain with the group until May 31 to support the publication of the group’s 2022 ESG report and upcoming annual general meeting, according to Prudential’s announcement on January 16.
MUZINICH NAMES ASIA CEO
Asset manager Muzinich & Co. has appointed Andrew Tan to the newly created role of chief executive officer for Asia Pacific.
Tan was previously head of Asia Pacific private debt at the company.
He will continue to lead the region’s private debt business, and his new regional CEO role gives added responsibility for growing Muzinich’s footprint across Asia Pacific, a spokesperson told AsianInvestor.
He will also continue to be an investment committee member for Muzinich’s Asia Pacific private debt strategy.
Tan joined the company in 2020 as managing director and head of Asia Pacific private debt.
He has more than 20 years of industry experience in both public and private credit markets in the region.
Muzinich has 13 people in the Asia Pacific, eight in Singapore including Mel Siew, who recently joined to manage the firm’s Asia Credit Opportunities Fund, the spokesperson said.
LASALLE IM RESHUFFLES JAPAN MANAGEMENT
Real estate management firm LaSalle Investment Management (LaSalle) appointed Kunihiko (Nick) Okumura to succeed Keith Fujii as chief executive officer of LaSalle Japan. He was also named representative director of LaSalle Japan, effective March 31.
Okumura will report to Fujii, who will continue to serve LaSalle as head of Asia Pacific.
Okumura joined LaSalle Japan in 2011 and served as head of acquisitions and asset management.
He was appointed co-chief investment officer for LaSalle Asia Pacific in 2021, a role he will continue in alongside his new role.
In addition, Itaru Nogami will succeed Ryota Morioka as fund manager of the LaSalle Japan Property Fund (LJPF), an open-ended core fund with total assets under management of more than ¥200 billion ($1.54 billion) gross asset value.
Nogami, who joined LaSalle as deputy fund manager for LJPF in 2020, will report to Okumura, a spokesperson told AsianInvestor.
Morioka will depart the firm to pursue other interests.
Yasuo Nakashima has also stepped down as representative director of LaSalle Japan and will leave the firm on April 1.
PGIM APPOINTS INSTITUTIONAL RELATIONS HEAD FOR AUSTRALIA, NEW ZEALAND
Murray Brewer has been named head of PGIM’s institutional relationship group for Australia and New Zealand, with effect from March 1.
In this newly created role, Brewer will be based in Sydney and will be responsible for leading the firm's growth plans and continued expansion of its institutional client base throughout the region.
He reports to head of IRG Asia Pacific (ex-Japan) Philip Hsin.
He brings over 30 years of experience in finance services to the role, having previously been Capital Group's country head of Australia.
Prior to that, he spent 14 years as country head of distribution for Australia and New Zealand for T. Rowe Price.
New Jersey-based PGIM had $1.2 trillion of assets under management as of December 2022.
NATIXIS IM NAMES REGIONAL HEAD OF EQUITY
Natixis Investment Managers Singapore has appointed Rushil Khanna in the newly created role of head of equity investments for the region.
Based in Singapore, he reports to Dora Seow, CEO for Natixis IM Singapore.
Khanna will manage the equity investment expertise on behalf of Ostrum Asset Management in Southeast Asia Pacific and will draw on Ostrum’s ESG knowledge to support local clients as they define their ESG strategies.
He will also be responsible for overseeing an existing team of portfolio managers, with the ambition of growing the Ostrum brand in the region.
Khanna was previously head of equities for Asia Pacific and lead portfolio manager at Credit Suisse Asset Management.
Lily Chang took over as head of Asia equities since last December, a spokesperson for Credit Suisse AM told AsianInvestor.
She reports to Hong Kong-based Angus Muirhead, head of equities. She has been with the asset manager since 2017.
Natixis did not respond to an AsianInvestor enquiry about who handled equity investments before Khanna stepped into this role.
EASTSPRING NAMES CEO FOR ISLAMIC AM BUSINESS
Eastspring Investments has appointed Anouk Hanafiah as chief executive officer and executive director of Eastspring Al-Wara’ Investments Berhad in Malaysia.
Hanafiah started her role on January 13 and reports to Raymond Tang, CEO of Eastspring Investments Berhad, who also sits on the board of Eastspring Al-Wara’.
Based in Kuala Lumpur, she replaces Khadijah Sairah Binti Ibrahim, who left in July 2022, the firm told AsianInvestor.
Hanafiah is responsible for the growth and development of Eastspring’s Islamic asset management business, which offers Shariah investment solutions to pension funds, institutional investors as well as onshore and offshore mandates.
Hanafiah has over 23 years of industry experience in managing conventional and Shariah investments. Prior to Eastspring, she held senior positions at Penjana Kapital, Fortress Capital Asset Managers, VCAP Asset Managers, and i-VCAP Management.
Eastspring Investments Berhad and Eastspring Al-wara’ Investments Berhad are Malaysian entities of the Eastspring Investments group.
Shariah investing refers to investment in compliance with goals and value under Islamic traditions and principles.
Singapore-based multi-family office Golden Equator Wealth (GEW) expanded its team of advisors with two hires.
Rai Rummaan Kharal joined as a managing partner of wealth and capital, while Haroon Tufail joined as an executive director.
Kharal will focus on establishing and growing client relationships, assessing market opportunities, developing business strategy for the multi-family office, and leading a team of family office advisors.
Kharal will report to Shirley Crystal Chua, founder and group CEO of Golden Equator Group.
He was previously executive director – markets and team lead at Credit Suisse Singapore, servicing ultra high net worth clients in South Asia.
Tufail will focus on providing investment and multi-generational wealth planning solutions for ultra high net worth families. He was previously director and relationship manager at Credit Suisse Singapore.
GEW plans to grow its team of senior family office advisors as well as assets under management in the next 24 months.
Credit Suisse Singapore declined to comment on the two departures.
SAMSUNG F&M HIRES EX-CITIBANK KOREA CHIEF
Samsung Fire & Marine Insurance (Samsung F&M) has nominated Park Jin-hei as the firm's new outside director, as it seeks to bolster environmental, social and corporate governance (ESG) management.
According to the non-life insurer's executive recommendation committee, Park will be able to help the company formulate a long-term ESG management strategy using his expertise in addition to his corporate financing experience.
Park spent most of his career at Citibank Korea and served as chief of Citibank Korea for six years from October 2014. He then worked as an outside director at Toss Bank and currently holds the same position at SK Innovation.
Park will also accept a role as a member of Samsung F&M's internal audit committee after taking office as the new independent director in mid-March after winning approval at its upcoming shareholders' meeting.
Wealth management firm St. James's Place (SJP) will close its Shanghai office as part of restructuring its Asia operations, the firm confirmed with AsianInvestor.
The Shanghai office is its sole entity in mainland China.
As one of the largest wealth managers in the UK, SJP entered Asia in 2014 and has offices in Hong Kong, Singapore and Shanghai.
The office in Shanghai came as part of SJP’s acquisition of the Henley Group in 2014 and has remained a small part of its Asia operations, Asia partnership director Oliver Wickham told AsianInvestor.
Hong Kong and Singapore are the key regional hubs, he said.
As Shanghai is not core to the Asia business, the firm has decided not to renew the lease of the Shanghai office and instead close operations later in the year.
The shutdown of the Shanghai office comes as part of a wider restructuring.
Wickham himself was appointed to his role on February 15, as SJP focuses on expanding partnerships in the region.
Wickham, previously head of business for Hong Kong, will continue his responsibilities as chief executive officer at St. James’s Place (Hong Kong) in addition to assuming responsibility for leading partnerships across Asia.
Gary Harvey, Singapore CEO of SJP, will also step down from the business later in the year to pursue opportunities.
An appointment for a new Singapore CEO will be made in due course, the firm told AsianInvestor.
ALIXPARTNERS OPENS SINGAPORE OFFICE
Consulting firm AlixPartners has opened a Singapore office, adding to its network of offices in Japan, Hong Kong and Shanghai.
The office will be led by Shiv Shivaraman, partner and managing director, Singapore country co-leader. and Lian Hoon Lim, partner and managing director and Singapore country co-leader.
Shivaraman, who has more than 27 years of global engineering and consulting experience in different sectors, will continue in his previous role of co-leader of the Asia Pacific region.
Lim will lead turnaround and restructuring services across the region and continues to provide advisory on performance improvement projects.
Both Shivaraman and Lim will report to Lisa Donahue, co-head of the Americas and Asia at AlixPartners.
The Singapore office will have over 10 people, most of which are senior management and consulting veterans, a spokesperson told AsianInvestor.
AlixPartners provides services in turnaround and restructuring, risk advisory and digital transformation among others for a range of industries, including private equity.