Posted inPeople Moves

FSA People Moves (9 June – 15 June 2021)

UBS GWM hires former JP Morgan banker; Goldman Sachs poaches Thailand RM; RBC WM grows Asia team; Crux appoints former Baillie Gifford fund manager; Standard Chartered exit; Northern Trust promotions.
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UBS Global Wealth Management hires former JP Morgan banker

Edith Chan will re-join UBS GWM as its Greater China head of direct investment group distribution, starting on 21 June. Earlier in her career, she was the Swiss bank’s Greater China head of private markets distribution.

Most recently Chan was at JP Morgan where she covered private markets between 2018 and 2020, and she has also worked at HSBC Private Bank and Deutsche Bank.

Goldman Sachs hires new RM

The US bank has appointed Pin Duangdee as a Singapore-based relationship manager (RM) concentrating on ultra-high net worth clients in Southeast Asia

Prior to this role, Duangdee worked as RM at Citi Private Bank covering the offshore Thailand market while based in Singapore, and earlier he was a RM at Credit Suisse for three years, also based in Singapore.

RBC Wealth Management grows Asia team

The wealth manager has hired four new senior bankers to serve the financial and wealth planning needs of high-net-worth (HNW) and ultra-HNW (UHNW) clients.

The wealth management arm of the Royal Bank of Canada (RBC) has added directors Vincent Cheng, Ellis Lau, Leo Zhang and Yoon Tae-Jung to its relationship management (RM) team in Hong Kong.

They will provide advice and wealth management services to clients in the region who have ties globally, especially to Canada, the US and UK – a segment the firm refers to as Asia’s global families.

Zhang, who joined RBC in 2017, relocates to Hong Kong from Toronto, where he held a similar role supporting families with international wealth management needs. Yoon joins from Hope Chain Asset Management in Hong Kong, and previously held RM roles at BNP Paribas and EFG Bank, and investment banking positions at Blue Ocean Strategic Capital Management, Hyundai Securities and Tong Yang Securities. They report to Shirley Tang, managing director and team head, and Angel Choy, executive director, team head, respectively.

Cheng joins from Bank of Singapore, where he was a RM. Previously, he was at Hang Seng Bank, BNP Paribas Wealth Management and Bank of Communications. Lau joins from Glory Sun Securities, where he was investment solutions director. Lau previously worked at CM Securities, UBS, Aon and Macquarie Capital. The pair report to Xygent Chan, who joined RBC as executive director, team head earlier this year.

Crux hires Baillie Gifford investment manager to lead Asian equities expansion

Crux Asset Management, an active equity investment manager, has poached Baillie Gifford’s Asia investment manager, Ewan Markson-Brown, to lead the firm’s expansion into the region Asia with two new equity strategies.

Focused on Asia ex-Japan and China, the Ucits funds will seek to exploit pricing inefficiencies in growth companies and apply Crux’s regional active equity capabilities to deliver strong investment returns from Asian equities. Crux will be hiring an investment team to support Markson-Brown on the new strategies including two analysts covering Greater China/South East Asia and India.

Markson-Brown has spent over 20 years managing emerging markets and Asia portfolios. He was responsible for managing the Baillie Gifford Pacific Fund, was lead manager of the Pacific Horizon Investment Trust and also co-managed the Baillie Gifford Emerging Markets All Cap Fund.

He will work with Crux to set up a new office in Edinburgh.

Singapore banker leaves Standard Chartered PB

Olaf van Duijnhoven, an investment advisor at Standard Chartered Private Bank, has resigned to pursue another opportunity. He joined the bank in 2011, and had covered Greater China, and Southeast Asia.

Northern Trust reshuffles Asia team leadership

Julie Zhu will lead Northern Trust’s asset servicing business in China and will also take over the firm’s Beijing branch manager role from Michale Wu, who was country executive for Greater China.

Zhu will report to Angelo Calvitto who was recently appointed head of the Asia-Pacific region.

Prior to this appointment, Zhu, who has been with Northern Trust since 2005 working predominantly with Chinese clients, was most recently deputy Beijing branch manager. She also worked as a relationship manager for 15 years prior to that job.

Meanwhile, Northern Trust has named Caroline Higgins and Iain Carey to leadership positions in Asia

Caroline Higgins has been promoted to head of Hong Kong, Macau and Taiwan and Iain Carey has been appointed head of global funds services in Asia.

Based in Hong Kong, Higgins will report to Calvitto, and she will oversee Northern Trust’s asset servicing business activities across the three markets and assume executive management responsibilities for Northern Trust’s Hong Kong office.

Prior to joining Northern Trust in 2016, Higgins held several senior leadership and client management positions at Brown Brother Harriman, State Street and UBS.

Carey will report to Higgins, and assume her prior role as head of global fund services for the region, overseeing client services and Northern Trust’s fund administration

Carey was most recently head of hedge fund services for Asia Pacific and has worked at Northern Trust since 2010. Before joining Northern Trust, he worked for an Independent Financial Adviser in Australia.

Part of the Mark Allen Group.