This week…
| People moves |
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M&G Real Estate Asia, the real estate fund management arm of M&G Investments, has made three senior appointments. Tenshin Ito joins the firm as the head of Japan, while Richard Van Den Berg and Robert Walker join as fund manager and non-executive director for the firm’s core Asia property strategy, respectively… Northern Trust has appointed Johnson Har as institutional sales manager in Hong Kong. In his new role, he will focus on bringing the firm’s capabilities and solutions to asset owners and asset managers across China, Hong Kong, Taiwan and Korea. He joins from SS&C Fund Services and has around 10 years of experience in business development and client relations for asset management, fund servicing and financial technology firms in the Hong Kong market… BNP Paribas has named Bing Chen as its China CEO. He replaces Peter Kwok, who is retiring from the bank. Previously, Chen was the bank’s head of corporate and business development for Greater China and head of RMB competence centre… |
| Firm news |
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China’s Creditease Wealth Management has received approval from the US Securities and Exchange Commission to be a registered investment advisor. The firm can now start providing advice to investors in the US… Pimco’s AUM increased by $100bn in the second quarter to $1.61trn from $1.51trn in the previous quarter. From the beginning of the year, its AUM increased by 10% from $1.47trn in the end of 2016… Specialist asset manager Impax Asset Management recorded a 17% increase in its AUM during the second quarter of this year, to £6.7bn ($8.68bn). Since the start of the company’s financial year in October 2016, AUM increased by 48%… |
| Fintech |
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The Bank of Thailand and the Monetary Authority of Singapore have signed a fintech cooperation agreement. The agreement enables both entities to share information on emerging market trends and their impact on regulations, as well as refer fintech firms to their counterparts… |
| Enforcement |
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Hong Kong’s Securities and Futures Commission has prohibited W. Falcon Asset Management (Asia) from carrying out all regulated activities for which it is licensed, disposing of or dealing with any assets held by it or held on behalf of its clients. The regulator’s action follows a self-report by W. Falcon informing the SFC that its liquid capital has dropped below the amount required under the Securities and Futures (Financial Resources) Rules. This was caused by a dishonoured cheque, in favour of W. Falcon, issued by the sole shareholder and a director of the firm… Singapore’s MAS has reprimanded fund management firm Accel-X Management for recurring late payments of annual fees and late regulatory submissions. Because of these offences, the MAS has also reprimanded Edmund Kwong, the firm’s CEO and director, for failure to discharge his duties as an officer of the firm… |
