BNP Paribas names deputy CEO for Asia securities
Hugo Leung will take on the role of deputy CEO of BNP Paribas’ securities operations in Asia, as well as head of global equities and commodity derivatives (GECD), Asia Pacific, for greater China.
In this position he will head up the representative office of BNP Paribas Equities (Asia) in Shanghai and BNP Paribas Securities (Taiwan) for GECD.
He moves to the role from his position at the bank as head of equity syndicate and corporate equity, Asia Pacific. In his new capacity he will continue to report to Pierre Rousseau, CEO of BNP Paribas GECD Asia Pacific.
In other news, the bank has appointed Madhu Gayer as head of investment reporting and performance (IRP) for Asia Pacific. The position is a newly created one, and Gayer will be based in Singapore, reporting to Mostapha Tahiri, head of asset and fund services in Asia Pacific as well as Nicholas Le Clech, global head of IRP.
He joins the bank from Northern Trust where he was senior vice president and regional head of investment risk and analytical services, Asia Pacific.
Asifma appoints Pang as cross markets executive director
Patrick Pang has joined the Asia Securities Industry and Financial Markets Association (Asifma) in Hong Kong as an executive director. He will cover cross markets initiatives, including tax and compliance as well as working on a series of fixed income committees.
He joins from Credit Suisse, and before that he headed up the Apac structured equity finance and trading desk at Merrill Lynch, and at Citigroup he led the Apac global structured solutions desk. Before he worked in banking, he was a tax professional at Price Waterhouse, and a vice president at Morgan Stanley Tax.
AIA in senior management shake-up
AIA Group has appointed its current chief distribution officer Bill Lisle to head up the integration of AIA and ING in Malaysia. He will report to Ng Keng Hooi, regional chief executive at the company.
In addition, Khor Hock Seng, current chief executive officer (CEO) of AIA Malaysia will take over as the CEO for AIA Group Corporate Solutions.
He will be based in Hong Kong and will report to Gordon Watson, regional chief executive. The changes follow AIA’s recent acquisition of ING Malaysia and both appointments were effective from December 1.
Lisle has worked in the insurance sector for 25 years, during which he has been managing director, South Asia for Aviva Investors and CEO of Prudential Malaysia. He joined AIA in January last year. Khor has worked in the industry for 30 years, and has been CEO of AIA Malaysia for the last six years.
Nikko AM in global CIO hires
Nikko Asset Management has appointed Yu-Ming Wang as international chief investment officer (CIO) for the company’s global investment teams ex-Japan. In addition, Hiroki Tsujimura, current head of active investments at the asset manager, has been promoted to CIO for Japan. Both positions will take effect from January 7, 2013.
Wang will be responsible for the company’s new strategies next year, which include Asian alternative fixed income and bank loans. He joins the firm from Manulife Asset Management in Hong Kong, where he was head of fixed income for Asia.
Tsujimura joined Nikko AM in December 2004 as global head of alternative investments and chief investment officer of Nikko Asset Management Americas, based in New York. Before this he was executive vice president at Nikko Securities International.
Coutts hiring spree shows no signs of slowing
Jacqueline Chua has joined Coutts as managing director and market head for Southeast Asia, effective immediately. She is based in Singapore and will head up the private bank’s team covering Singapore, Malaysia, Indonesia and Thailand. She will report to Ranjit Khanna, head of Southeast Asia and global non-resident Indians at Coutts.
Chua joins from UBS in Singapore where she was most recently executive director and desk head of the Singapore team. She has also worked at ABN Amro Singapore, Allianz Dresdner Asset Management and Citibank Singapore.
The private bank has also appointed Ray Chan to head the Philippines market, reporting to Ignatius Chong, head of Hong Kong at the bank. Chan will be based in Hong Kong.
He joins Coutts from Morgan Stanley where he was in charge of the offshore Philippines team targeting the ultra-high-net-worth (UHNI) segments. Before this he was market leader of the Philippines for Credit Suisse, also based in Hong Kong. He has also worked for HSBC Private Bank, Citigroup Private Bank and Bank of Bermuda.
Fidelity poaches Chen from Lyxor AM
Herman Chen will join Fidelity as head of institutional sales for China. He moves to the asset manager from his position as Apac head of exchange-traded fund (ETF) distribution at Lyxor Asset Management, a subsidiary of Société Générale.
The role was effective from November 5 and Chen relocated from Hong Kong to Beijing. He fills the position left vacant by Bin Han who left the firm earlier this year in order to take up the position of head of distribution for China at Credit Suisse.
Before Lyxor, Chen worked as a director in BlackRock’s iShares business, with a focus on ETF sales in China. He has also worked at ABN Amro and Citi.
StanChart’s Hui to join J.P. Morgan AM
J.P. Morgan Asset Management has hired Tai Hui to its global market insights strategy team, as chief Asia Pacific strategist for J.P. Morgan Funds. The role is a newly created one and Hui will be based in Hong Kong.
Before joining the bank, he was head of research for Asia at Standard Chartered in Singapore. He spent 12 years at the bank during which he was also head of research for Southeast Asia and an economist for the greater China region.
Kratz to lead Apac AM at Northern Trust
Bo Kratz has joined Northern Trust as managing director for asset management in the Asia Pacific region ex-Japan.
He will be based in Hong Kong and report functionally to Wayne Bowers, CEO of Northern Trust’s asset management arm for Europe, the Middle East, Africa and Asia Pacific, as well as locally to Teresa Parker, CEO for Asia Pacific at Northern Trust.
He joins from Permal where he headed up the Asia business, with responsibility for the group’s offices in Hong Kong, Singapore and Tokyo.
Before that he worked for ABN Amro Asset Management in Asia, based in Hong Kong and Singapore. He was also chief investment officer at Alfred Berg Asset Management.
Zaidi and Wang rejoin Principal Global Investors
Mohammed Zaidi and Alan Wang are returning to Principal Global Investors as senior members of the emerging markets (EM) equity team.
Zaidi will take on the role of head of emerging Asia strategies, managing global EM equities, based in Singapore. Wang will take up the position of portfolio manager for Hong Kong and China equities and head the research team for the greater China region. He will be based in Hong Kong.
Both are returning to the firm. Zaidi was a senior EM equities analyst between 2001 and 2006, before joining Scottish Windows Investment Partnership and then Martin Currie Investment Management in Edinburgh.
Wang worked in the equities team at Principal Global Investors between 2003 and 2008, when he joined Ping An asset management as head of equities investment. In their new roles, both will report to Mihail Dobrinov, head of EM equities.