Weekly roundup of people news, Oct 27

M&G hires Schroders' former HK CEO; abrdn's Hugh Young to retire; Zita Chung leads FOF business at AIA IM HK; Future Fund hires infra specialist; AMP names superannuation lead; Capital Group hires institutional lead from UBS AM; and more.
Weekly roundup of people news, Oct 27


M&G Investments has appointed Amy Cho as head of Asia Pacific and CEO, M&G Investments Singapore, subject to regulatory approval.

Amy Cho

She succeeds Loretta Ng, who has decided to leave M&G to pursue personal aspirations.

Cho will be based in Singapore, a spokesperson told AsianInvestor.

Cho was previously Hong Kong CEO and deputy head of Asia Pacific at Schroders. She was with the asset manager since December 2018.

Cho also had working stints at Pictet Asset Management, First State Investments, HSBC Asset Management and Citibank.

Cho stepped down from Schroders in early January 2023.

Gopi Mirchandani then took over as CEO for Hong Kong and was named head of North Asia in June, a spokesperson for Schroders told AsianInvestor.


Hugh Young

Abrdn Asia-Pacific chairman and veteran investor Hugh Young will be retiring on December 31, 2023, ending a 43-year investing career in the region, the firm announced on October 20.

He will also retire from the role as a manager of the abrdn Asia Focus, a listed investment company that invests in Asian small-cap companies.

Young is based in Singapore.

Flavia Cheong

Young joined the company in 1985 to manage Asian equities from London, having started his investment career in 1980.

Under his management, abrdn now has over 40 investment personnel across six countries.

Abrdn Asia Focus’s management will remain in the hands of Flavia Cheong, abrdn's head of equities, Asia Pacific; Gabriel Sacks, investment director, emerging markets equities; and investment manager Xin-Yao Ng.

Cheong joined abrdn in 1996.

René Buehlmann

Abrdn has been preparing for Young’s retirement since 2021 by appointing Flavia Cheong as joint lead manager alongside Young, Sacks and Ng, both of whom have worked alongside Young for 15 and five years, respectively. 

AsianInvestor understands that there is no direct replacement to his role as Asia-Pacific chair.

Abrdn hired René Buehlmann from UBS as APAC CEO in March 2021 to succeed Young, while Young became the Asia-Pacific chair to ensure a smooth transition and provide strategic counsel to the Asia-Pacific business.

Buehlmann was named as sole CEO of investments in May 2023.

Zita Chung

Zita Chung joined AIA Investment Management Hong Kong as head of fund-of-funds investment in September 2023, AIA confirmed with AsianInvestor.

Chung was formerly chief investment officer at Sun Life Asset Management Hong Kong.

AIA Investment Management is part of the Hong Kong-based AIA Group. AsianInvestor reported Chung’s move to the firm on October 20.

Before joining AIA, Chung had been with Sun Life Asset Management Hong Kong since early 2012, having worked in various roles including regional head of investments and portfolio manager.

She became CIO of Sun Life Asset Management Hong Kong in 2018. AsianInvestor reported her departure in August.

AsianInvestor was unable to ascertain whether Sun Life Asset Management Hong Kong has appointed a replacement for Chung.


Maria Guo

Australia’s Future Fund has hired Maria Guo, an infrastructure specialist from Australian Retirement Trust (ART), as director of infrastructure and timberland.  

Guo, whose appointment is effective October 19, will be based in Sydney.

Guo previously worked as a senior portfolio manager at ART and was an investment manager at Sunsuper before its merger with QSuper.

She has covered private equity and infrastructure investment opportunities, as well as co-investments and direct investments in her roles.

She began her career as an analyst within the multi-asset team at AMP Capital Investors.

ART did not respond to an AsianInvestor query regarding Guo’s replacement at the time of publication.


Melinda Howes

AMP has appointed Melinda Howes to head its superannuation, master trust, and investments unit.

Effective from January 29, 2024, Howes will assume the position of group executive for superannuation and investments, taking charge of the integrated functions of super, master trust, and investments.

Additionally, she will join the group executive committee.

She is currently a partner at KPMG's superannuation and actuarial practices.

She was previously managing director of superannuation at BT Financial Group for over seven years. Notably, she served as BTFG's director of superannuation and retirement products from 1993 to 2004.

This appointment comes as part of AMP's recent executive restructuring initiative following the resignation of Scott Hartley, the chief of Australian wealth management in May.

Hartley is set to step down by the end of this year.


Benno Klingenberg-Timm

Capital Group appointed Benno Klingenberg-Timm as head of institutional for Asia and Europe client group (EACG), effective October 24.

Based in Singapore, he will report to Guy Henriques, president of Asia and Europe client group, and will become a member of the EACG management committee.

Klingenberg-Timm will be responsible for expanding the firm’s institutional business, working with the local institutional client teams to deliver investment services, and deepening relationships with institutional clients in Asia and Europe.

He fills a role left vacant by Capital Group institutional head, Stephen Gosztony, who passed away last year, the firm told AsianInvestor.

Willem van Breugel

Klingenberg-Timm joins Capital Group from UBS Asset Management where he was most recently head of institutional for Asia Pacific until September.

Over a two-decade tenure at the firm in Singapore and Zurich, he held several senior roles including head of global sovereign markets, Asia Pacific, and managing director for Middle East and sovereign clients.

AsianInvestor understands that Willem van Breugel, head of global sovereign markets at UBS Asset Management, is covering Klingenberg-Timm’s role as head of institutional for Asia Pacific in the interim. Van Breugel is based in London.

He is also a member of the management committees for UBS Asset Management in EMEA and institutional business globally.


Mark Hoven

Morningstar Australasia has appointed Mark Hoven as senior vice president of enterprise sales to drive the research firm's growth in the superannuation and retirement sectors.

Hoven, formerly CEO of Adviser Ratings, will be based in Sydney and will begin his role on October 30.

With over 23 years of experience in financial services, Hoven will play a key role in expanding Morningstar's offerings in the superannuation market, including profit-to-member funds.

Hoven's appointment follows the recent hiring of Paul Schutzman as head of solutions for institutional investors at Morningstar Inc.


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