Posted inPeople MovesNews

Ex-Schroders’ exec joins BOS

Rajeev De Mello has been appointed as Bank of Singapore's chief investment officer after quitting Schroders earlier this year due to differing views about the direction of the firm's Asia fixed income strategy.
Rajeev De Mello, Bank of Singapore

De Mello will replace Johan Jooste, who has been appointed as the bank’s head of rates, according to a Singapore-based spokesman at OCBC Bank, BOS’ parent. Jooste first joined the bank in 2016 as its CIO.

De Mello will oversee the bank’s research and investment strategy teams that produce Bank of Singapore’s house views across all asset classes. He will also be chairman of the bank’s investment committee that decides on the global strategic and tactical asset allocation calls for clients.

His role includes running the bank’s discretionary portfolio management, which saw assets grow 30% in 2017, according to the statement, which did not provide details.

Overall, Bank of Singapore’s AUM stood at $102bn as of the end of June, which is 14% higher than a year ago, according to the statement.

Before Bank of Singapore, De Mello was Schroder Investment Management’s head of fixed income and co-head of emerging market debt.

De Mello left Schroders early this year, Don Yew, Singapore-based analyst for manager research at Morningstar, said in a research note. Yew wrote that De Mello’s departure was “primarily triggered by differences in view between De Mello and the firm in terms of strategic direction for the Asian fixed income business”.

Schroders will not directly replace De Mello, according to Yew.

A Hong Kong-based spokeswoman at Schroders said the firm reorganised the business and investment related responsibilities within the Asian fixed income team. On the business development side, Roy Diao, head of Asian fixed income, is responsible for the business and operational aspects of the fixed income team.

On the portfolio management side, Julia Ho, head of Asian macro for fixed income, and Angus Hui, fund manager for Asian fixed income, have joint leadership of fund management responsibilities, the spokeswoman added.

Part of the Mark Allen Group.