SCHRODERS NAMES AUSTRALIA CEO
Schroders has named Sam Hallinan as its CEO for Australia. He will assume the role in April and will report to Chris Durack, Co-CEO for Asia-Pacific, according to a press statement.
Durack will remain a director of Schroders Australia and will continue to have oversight of the Australian business as part of his regional responsibilities, the firm noted.
Hallinan joins the firm from Nikko Asset Management, where he was managing director of the Australian business since 2015. He has at least 25 years of experience in financial services with leadership roles in the Australian asset management industry.
As of the end of June, Schroders managed $649bn in client assets globally, according to the statement.
PGIM FIXED INCOME EXPANDS HONG KONG TEAM
PGIM Fixed Income has hired Yong Duk Kim as Hong Kong-based vice president for South Korea client advisory, according to a statement from the firm. In this newly created role, Kim will be responsible for leading the institutional sales and client relations efforts in South Korea.
He will report to Helen Chang, head of Asia Pacific (ex-Japan) client advisory.
Before PGIM Fixed Income, Kim was a director of institutional client coverage for Korea at UBS Asset Management. Prior to that, he held roles with Daehan Investment Trust Management and Shinyoung Securities, where he focused on developing wholesale business in Korea.
PGIM has been expanding its presence in the region. With an established office in Singapore and at least $20bn in AUM across Asia-Pacific (ex-Japan), the firm has been hiring staff in Hong Kong, including Chang, who joined the firm in February last year, as well as Lam Lam Sze, who was hired in August as a senior account management specialist.
“The build-out of our Hong Kong office reflects our excitement for the opportunity in Asia-Pacific and our commitment to providing truly global support through localised resources to our growing institutional client base,” Mike Lillard, head of PGIM Fixed Income.
PGIM Fixed Income managed $968bn in assets as of the end of December. It is part of PGIM, the global investment management business of US-based Prudential Financial, which manages $1.4trn in assets globally.
THORNBURG EXPANDS BOARD
Thornburg Investment Management, which oversees $46bn in assets, has appointed Julia Sze as an independent director to the Thornburg board of directors.
Thornburg’s board of directors approves and audits the firm’s budget, assesses the performance of the CEO and approves the strategic goals of the company. Its board is now comprised of six members, three of whom are independent.
Sze started her career in Hong Kong managing portfolios in Asian equity markets and leading several funds in the region for over a decade at Cameron Global Investments, Credit Lyonnais Asset Management and Indosuez Asset Management. Subsequently, she served as senior investment strategist and chief investment officer at Wells Fargo Family Wealth Group (now Abbot Downing) and provided sales support and education for private bank teams serving HNWIs, foundations and endowments at Bank of America’s Alternative Investments Group.
Starting in 2008, Sze began working with foundations, families and individuals to develop and implement custom impact investing strategies across sectors and geographies, the statement said. Since 2018, Sze has also taught investment management, impact investing and social entrepreneurship at Berkeley’s Haas School of Business. She serves as faculty for the Haas Impact Fund, the Haas Sustainable Investment Fund and Impact Startup Launchpad.
In addition to Thornburg’s board of directors, Sze serves on the board and audit committee of Cavco Industries and the board of Tern, a Taiwan-based folding electric bike company.