Man Group sees no bubble in Asian memory stocks
There are fundamental reasons for the parabolic rally, according to Man Group’s Nick Wilcox.
The appointments have an emphasis on offshore China and global India coverage.

Phaneendar Bhavaraju and Rangan Krishnan have joined the global India team in Singapore as senior relationship managers. Both report to Manoj Ramarao, senior desk head, global India, Singapore and Hong Kong.
Bhavaraju has over 28 years of experience across FX, rates, derivatives, precious metals, private banking and structured finance. During the past nine years, he was chief investment officer at EAMs in DIFC, including Jupiter Wealth Advisors and Arrow Capital, and led multi-family office investment activities for O3 Capital India.
Prior to that, he spent nine years in private banking roles at RBS and Credit Suisse, managing ultra-high-net-worth (UHNW) clients, family office and institutional relationships across India, the Middle East and the UK.
Krishnan has over 31 years of experience in the wealth management industry, spanning advisory, communications and portfolio management. Most recently, he spent nine years at Bank of Singapore in Singapore as a team head, managing UHNW clients, family offices and institutional portfolios. His previous experience includes leadership roles at ANZ Bank in Singapore, Credit Suisse Private Bank in Hong Kong, ABN AMRO Bank and DSP BlackRock Mutual Fund in India.
“These appointments support HSBC Private Bank’s continued investment in its global India proposition, as the bank strengthens its ability to serve globally mobile Indian clients with cross-border wealth needs across Southeast Asia and key international corridors,” said a HSBC PB spokesperson in a media statement.
In addition, Alex Liu was appointed market head of offshore China recently, extending his coverage to the offshore China teams in Singapore in addition to his coverage in Hong Kong, to support the offshore needs of Chinese clients across HSBC PB’s global network and enhance it connectivity within the region. Based in Hong Kong, Liu will continue to report to Kanas Chan, head of North Asia and Hong Kong, HSBC Private Bank.
Dawn Fung has been appointed head of wealth planning, Southeast Asia, effective immediately. She has been in the role on an interim basis and will continue to lead the region’s wealth planning agenda, expanding HSBC’s coverage of wealth planning and advisory topics for HNW and UHNW clients and families, including multi-generational wealth and legacy planning.
Fung reports functionally to Ann Ling, regional head of wealth planning and advisory, Asia Pacific, and on an entity basis to Tommy Leung, head of Private Bank, South Asia. She remains a member of the Private Bank Southeast Asia leadership team. Fung has over 25 years of experience across the banking and trust industries, including more than 22 years with HSBC.
Finally, William Fok has been appointed to lead HSBC Private Bank’s onshore Thailand private banking business, based in Bangkok.
Fok reports to Benjamin Wang, desk head for Thailand and Vietnam, HSBC Private Bank. He brings over 20 years of experience in structured products and investment advisory, and most recently was senior investment counsellor at LGT, where he focused on client acquisition and portfolio optimisation.
Fok previously spent close to five years with HSBC Private Bank in Hong Kong and Bangkok. His earlier career includes roles at Julius Baer and Morgan Stanley.
HSBC Private Bank (HSBC PB) has announced several senior appointments across Asia, reinforcing its wealth planning and onshore Thailand leadership in Southeast Asia, and strengthening coverage for offshore China and Global India.
Phaneendar Bhavaraju and Rangan Krishnan have joined the global India team in Singapore as senior relationship managers. Both report to Manoj Ramarao, senior desk head, global India, Singapore and Hong Kong.
Bhavaraju has over 28 years of experience across FX, rates, derivatives, precious metals, private banking and structured finance. During the past nine years, he was chief investment officer at EAMs in DIFC, including Jupiter Wealth Advisors and Arrow Capital, and led multi-family office investment activities for O3 Capital India.
Prior to that, he spent nine years in private banking roles at RBS and Credit Suisse, managing ultra-high-net-worth (UHNW) clients, family office and institutional relationships across India, the Middle East and the UK.
Krishnan has over 31 years of experience in the wealth management industry, spanning advisory, communications and portfolio management. Most recently, he spent nine years at Bank of Singapore in Singapore as a team head, managing UHNW clients, family offices and institutional portfolios. His previous experience includes leadership roles at ANZ Bank in Singapore, Credit Suisse Private Bank in Hong Kong, ABN AMRO Bank and DSP BlackRock Mutual Fund in India.
“These appointments support HSBC Private Bank’s continued investment in its global India proposition, as the bank strengthens its ability to serve globally mobile Indian clients with cross-border wealth needs across Southeast Asia and key international corridors,” said a HSBC PB spokesperson in a media statement.
In addition, Alex Liu was appointed market head of offshore China recently, extending his coverage to the offshore China teams in Singapore in addition to his coverage in Hong Kong, to support the offshore needs of Chinese clients across HSBC PB’s global network and enhance it connectivity within the region. Based in Hong Kong, Liu will continue to report to Kanas Chan, head of North Asia and Hong Kong, HSBC Private Bank.
Dawn Fung has been appointed head of wealth planning, Southeast Asia, effective immediately. She has been in the role on an interim basis and will continue to lead the region’s wealth planning agenda, expanding HSBC’s coverage of wealth planning and advisory topics for HNW and UHNW clients and families, including multi-generational wealth and legacy planning.
Fung reports functionally to Ann Ling, regional head of wealth planning and advisory, Asia Pacific, and on an entity basis to Tommy Leung, head of Private Bank, South Asia. She remains a member of the Private Bank Southeast Asia leadership team. Fung has over 25 years of experience across the banking and trust industries, including more than 22 years with HSBC.
Finally, William Fok has been appointed to lead HSBC Private Bank’s onshore Thailand private banking business, based in Bangkok.
Fok reports to Benjamin Wang, desk head for Thailand and Vietnam, HSBC Private Bank. He brings over 20 years of experience in structured products and investment advisory, and most recently was senior investment counsellor at LGT, where he focused on client acquisition and portfolio optimisation.
Fok previously spent close to five years with HSBC Private Bank in Hong Kong and Bangkok. His earlier career includes roles at Julius Baer and Morgan Stanley.
There are fundamental reasons for the parabolic rally, according to Man Group’s Nick Wilcox.
Wealth management is similar to being a family doctor, says Morgan Stanley PWM Asia’s Christina Au-Yeung.
It combines its wealth management platform with Quantum Trust’s licensed trustee capabilities.