Aberdeen Standard picks new China head

The Chinese arm of Scotland-based Aberdeen Standard Investments announced the appointment of a general manager for its wholly foreign-owned enterprise, the firm said on August 22.

  • By Paolo Danese
  • 22 Aug 2017
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The new business head, Amy Wang, will take up the role on September 1. She has spent a good chunk of her career in China, as chief representative for Franklin Templeton for over a decade and, since 2015, with Pioneer Investments.

Aberdeen Standard Investments is the asset management arm of London-listed Standard Life Aberdeen. The firm is the result of an £11bn merger between Standard Life Investments and Aberdeen Asset Management, completed on August 14. The new firm has total assets under management of around $750bn.

Standard Life Investments has had a presence in China since 2002, while Aberdeen Asset Management opened a representative office in 2008 and established a WFOE in 2015 within the Shanghai Free Trade Zone.

The firm has two main expansion plans in the country. One is launching a qualified domestic limited partnership (QDLP) business, a quota-based investment programme that allows foreign asset managers to help onshore investors with outbound alternatives investments. The second business line will launch after obtaining a private fund management licence in China, which will allow the firm to market existing private funds to onshore investors.

Aberdeen Standard is looking to leverage its WFOE status to target Chinese insurance assets. The licence is still rare for foreign firms in China, having only been granted to a handful of global asset managers including the likes of Fidelity and BlackRock.

“Amy's deep knowledge and experience of the regulatory as well as market environment will be a benefit as we look to strengthen both our existing relationships with clients in China and build new ones – particularly among sovereign funds, financial institutions and insurance firms,” Alexis Ng, head of distribution for Asia Pacific at Aberdeen Standard Investments, said in the statement. 

  • By Paolo Danese
  • 22 Aug 2017

GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 China Merchants Securities Co 22.39
2 CITIC Securities 13.39
3 Agricultural Bank of China (ABC) 12.17
3 Industrial and Commercial Bank of China (ICBC) 12.17
5 China CITIC Bank Corp 10.95

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 13-Jul-18 Global Logistic Properties Singapore 2,000
2 13-Jul-18 Hang Lung Properties Hong Kong 1,000
3 28-Jun-18 China Water Affairs Group China 200
4 26-Jun-18 Want Want China Holdings Taiwan 500
5 14-Jun-18 Bank of China Group Investment China 1,000

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 33.47
2 HSBC 19.33
3 Societe Generale 4.75
4 Bank of Taiwan 4.07
4 Cathay United Bank 4.07

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 21-Jun-18 Shimao Property Holdings China 1,200
2 19-Jun-18 Korea Development Bank (KDB) South Korea 1,750
3 07-Jun-18 Export-Import Bank of Korea (Kexim) South Korea 1,500
4 23-May-18 QNB Finance Qatar 600
5 16-May-18 First Abu Dhabi Bank PJSC United Arab Emirates 1,100