HSBC CREATES REGIONAL CIO ROLES FOR PB AND WEALTH MANAGEMENT
HSBC has promoted three of its regional chief investment strategists to newly created regional chief investment officer (CIO) roles for private banking and wealth management, according to a statement from the firm.
Fan Cheuk Wan has been named as CIO for Asia, Patrick Ho as CIO for North Asia and James Cheo as CIO for Southeast Asia.
In her expanded role, Wan is in charge of the chief investment office in Asia, responsible for developing regional investment strategies and themes across all asset classes for private banking, Jade and Premier wealth clients in the region. She is also the chair of the Asia regional investment committee and a member of the global investment committee for private banking and wealth management.
Wan joined HSBC Private Banking in 2016 as head of investment strategy for Asia and later assumed the role of chief market strategist for Asia private banking.
Ho will contribute to the development of regional investment strategies and will drive thematic investment offerings across all asset classes for private banking, Jade and Premier clients in the region. He oversees the investment strategy team in Hong Kong and manages the investment process of the Asia advisory model portfolios that incorporates a core-satellite and thematic investment approach.
Ho joined HSBC as chief market strategist for North Asia private banking in 2017, and before that, held a number of senior roles at Credit Suisse Private Banking and UBS Wealth Management.
Cheo is responsible for developing Southeast Asia investment strategies and themes across all asset classes for private banking, Jade and Premier clients in the region. He has around 16 years of experience in portfolio strategy, asset allocation and economic research. Before joining HSBC in 2019, he was senior investment strategist at Bank of Singapore, responsible for asset allocation and thematic research.
The newly created roles align with the global structure to provide an integrated investment process and deliver common house views across private banking and wealth management as HSBC ramps up resources to grow and scale its wealth management franchise in Asia, according to the statement. These regional appointments also follow the recent designation of Willem Sels as London-based global CIO for private banking and wealth management.
BNPP AM CREATES DEPUTY CEO ROLE
BNP Paribas Asset Management has promoted Sandro Pierri in the newly created role of London-based deputy CEO, effective 1 January, according to a statement from the firm.
This is an addition to his role as head of the firm’s global client group, which he has held since 2017. Pierri reports to Frédéric Janbon, CEO of BNPP AM.
Pierri has around 30 years of experience in the asset management industry. He began his career in 1989 as a portfolio manager with San Paolo Fondi, moving to BNL Gestioni in 1992 before joining ING Investment Management in 1994, according to the statement. Between 2002 and 2003, he was CEO of ING Group’s Italian retail business. Following the acquisition by Unicredit/Pioneer of ING’s Italian business, he joined Pioneer Investments, Unicredit’s asset management division, in 2004. He spent 10 years in various commercial and managerial positions, including being appointed CEO in 2012.
JANUS HENDERSON ADDS TO BOARD
Janus Henderson has appointed Alison Davis as an independent non-executive director, effective last week, according to a statement from the firm.
She will serve as a member of the board’s audit committee, nominating and corporate governance committee and risk committee.
Based in the US, Davis is co-founder and managing partner of Fifth Era Financial, which invests in and incubates early-stage technology-enabled companies. From 2004 to 2010, she was the managing partner at Belvedere Capital, a bank holding company and private equity firm focused on investing in US banks and financial services firms.
She is currently a non-executive director on two public company boards: SVB Financial Group, the parent company of Silicon Valley Bank, and Finserv, a payments and financial technology company. She also serves on the board of privately held data intelligence company Collibra as chair of its audit committee. In addition, Davis serves as chair of the advisory board for Blockchain Capital, a venture firm in the blockchain industry and is an advisor to Bitwise, a cryptocurrency asset manager.
Davis’s appointment bring the firm’s total number of directors to ten, nine of whom are independent non-executive directors.
As of the end of December, Janus Henderson had around $402bn in assets under management globally, according to the statement.
SFC REAPPOINTS JULIA LEUNG AS DEPUTY CEO
Hong Kong’s Securities and Futures Commission (SFC) has reappointed Julia Leung as executive director for intermediaries and deputy CEO of the SFC for a term of three years, effective 2 March 2021 to 1 March 2024.
Leung joined the SFC in 2015 as executive director overseeing the investment products division. She replaced Alexa Lam, who was planning to retire. At the time, Lam was also the regulator’s deputy CEO.
In 2016, Leung was appointed executive director of its intermediaries division, which is responsible for licensing requirements and supervising licensed corporations. Christina Choi then took on Leung’s prevoius role as executive director of investment products.
Leung assumed the additional role of deputy CEO from 2018.
JOB OPENINGS IN HONG KONG
A number of firms operating in Hong Kong are in hiring mode right now and have posted job vacancies online on Linkedin. They include:
Axa
Blackrock
BNP Paribas
Citi Private Bank
Heng An Standard Life (Asia)
Morgan Stanley Private Wealth Management Asia
Morningstar
Willis Towers Watson
