CS names HK CEO and China co-heads
Neil Harvey has been appointed Credit Suisse’s CEO for Hong Kong and co-CEO for Greater China. In the latter role he will work alongside co-CEO for Greater China Liping Zhang who will continue in his role as vice chairman, global investment banking department.
Harvey has worked in investment banking and asset management for 27 years, and in Asia Pacific for 15. He has worked at Credit Suisse since 2004, most recently as head of Asia Pacific and global emerging markets for the asset management arm.
He has also been head of investment banking and fixed income for Asia ex-Japan, and was a co-founder of the bank’s global emerging markets fixed income business. He has worked in the Middle East, Africa, Turkey and Latin America.
Zhang joined the Swiss bank in 2004. Before this he was CEO of Imagi International Holdings, managing director of Pacific Concord Holdings, managing director and head of the Greater China region at Dresdner Banking Group and a director at Merrill Lynch.
Morgan Stanley in Asia IB cuts
Morgan Stanley has cut between 50 and 60 investment banking jobs in Asia ex-Japan over the last few weeks. This is part of the bank’s plan to cut 1,600 jobs worldwide. Half of these are due to be carried out in the US and the remainder will be from the bank’s global businesses.
Around 40 of the cuts in Asia were from the investment banking division, with around 10 cut from the global capital markets unit. Fixed income and equity sales as well as trading, have been relatively unaffected.
In India, Nina Nagpal, chief operating officer, has left the bank along with 13 other employees. Nagpal joined MS in 1999. The other staff in India were spread across investment banking, fixed income, and research.
In Australia, around 20 have been cut. In Greater China, five vice presidents have been cut as well as four associates and seven analysts in teams including global capital markets, natural resources and technology. A Hong Kong-based spokesperson for Morgan Stanley declined to comment on the departures.
Morin Southeast Asia CEO at Bank Sarasin
Eric Morin has joined Bank Sarasin as managing director and CEO for Southeast Asia, Singapore branch and Southeast Asia. He is based in Singapore and reports to Enid Yip, CEO for Asia.
Morin joins the bank from BNP Paribas, where he has worked since 1987. His most recent role was deputy CEO for Southeast Asia, market manager international wealth management and other Asian markets.
He moved to Singapore from Geneva in 2007. Before this he was area manager for emerging markets, covering Asia, the Middle East, Turkey, Latin America and CIS (commonwealth of independent states) countries. He has also been based in New Delhi, Bahrain and Paris.
Harwood-Jones to lead I&I at StanChart
Margaret Harwood-Jones will take on a newly created role at Standard Chartered, as global head of investor and intermediaries (I&I), sales, transaction banking.
She joined the bank on December 10 and reports to Jiten Arora, global head of sales, transaction banking. She will be based in Singapore.
Before this she worked for BNP Paribas Securities Services where she was head of client segments, asset managers and alternative investments.
This is the latest in a series of hires to Standard Chartered’s I&I division. In November, Alan Naughton was named global product head, I&I, transaction banking. Andrew Hempshall was appointed global head of solution delivery and service, I&I, transaction banking.
Wada takes over as Japan CEO at Eastspring
Koji Wada will join Eastspring Investments in Japan as CEO, taking over from Felix Pang, who resigned from the firm. The role will start on January 25, when Pang’s resignation will take effect.
He joins the asset management arm of Prudential Corporation Asia from Lombard Odier where he was managing director for asset management. Before this he worked for Goldman Sachs Asset Management where he was managing director, head of third party distribution, head of marketing and head of the product specialist team.
He has also worked at UBS as managing director and head of strategy development, as well as senior client advisor for UBS Wealth Management, Japan. Pang has resigned after working for the company for 10 years.
BlackRock’s Wang moves to Standard Life
Standard Life Investments has named Allen Wang as investment director, head of Asia Institutional business. He moves to the firm from BlackRock where he was managing director and head of China and Taiwan institutional business.
In addition, Malcom Jones, investment director, Asia Pacific, absolute returns and fixed income, is moving to Asia from the company’s head office in Edinburgh. Jones has spent 15 years as a fund manager working across both equity and fixed income.
Finally, Standard Life has transferred Jason Lam from its head office, as Asia business development manager, who will now be based in Hong Kong. In addition to these three senior appointments, the firm will also built its wholesale team, based in Hong Kong.
Chen returns to Baker & McKenzie
Corporate and securities lawyer Lance Chen has returned to Baker & McKenzie to head up the US securities practice group in Hong Kong and China. The role was effective January 1.
Chen has worked for more than ten years advising Chinese and international companies on capital markets, M&A and corporate restructuring with a focus on listings, IPOs and secondary fund raising transactions.
He joins Baker & McKenzie from ICBC International Capital. Before this he worked for J.P. Morgan, after working for Baker & McKenzie as a US securities partner between 2000 and 2004.