The $95 billion Korean savings will set up a separately managed account for real estate debt investment early next year in order to shorten decision-making and help it win deals in a crowded market.
Tag : sma
The firm has begun to search for a regional CEO after an internal email confirmed Alan Harden had opted to return to California to spend time with family by the end of this year.
The firm admitted the market for its separately managed accounts business was slower than it expected, even as one Malaysian private bank announced the launch of the platform.
The firm has shelved its separately managed account unit for wealthy people in Asia and let up to 50 staff go in Hong Kong and Singapore, AsianInvestor understands.
