This week…
| People moves |
| Enhance Group will not be replacing Richard Sayers, the firm’s ex-managing director for Singapore, according to James Painter, the firm’s Jersey-based CEO. “We will not be replacing [Sayers] at present as we have no need for a senior hire in Singapore as all of our client service operations remain based in Jersey and London. Sayers, who was also Enhance’s co-founder, left the firm and joined Equiom as managing director for Singapore…
BNP Paribas Asset Management’s Hong Kong CEO, Tino Moorrees, has left the firm and decided to pursue other interests and opportunities outside of the firm. He has been replaced by Rakesh Vengayil on 1 September, who also assumed the role of deputy CEO for Asia-Pacific, reporting to Ligia Torres, Asia-Pacific CEO. Vengayil first joined BNP Paribas Group in India in 1998 and moved to the asset management business in 2004 as vice president and head of asset management operations at BNP Paribas Mutual Fund India. He also assumed senior management roles in India, Hong Kong and London… T Rowe Price has made two appointments for its Japan businesses: Kuniaki Doi as head of retail business and Yasuo Miyajima as head of institutional investors business. Doi was previously with Goldman Sachs, where he was managing director and head for third-party distribution, while Miyajima was previously with Prudential Investment Management Japan and oversaw the full integration of the firm’s sales division… Commercial real estate and investment firm CBRE has appointed Craig Hudleston as executive managing director and head of asset services for Asia-Pacific. He will be responsible for client relationships, financial performance and people management in 15 markets in the region. He will transition to his new role from his current role as chief operating officer of CBRE Japan immediately and will relocate to Hong Kong later this year… |
| Products |
| GAM’s Health Innovation Equity Fund has received approval from Taiwan’s Financial Supervisory Council to be available for sale to domestic investors. Besides the health equity fund, GAM has other registered products under Concord Securities Group, the master agent for GAM products in Taiwan, which include a luxury equity fund, a diversified income bond fund and an absolute return fund…
Eight Roads Ventures, a global venture capital firm and a proprietary investment arm of Fidelity International, has launched its first dedicated China healthcare fund. The $250m fund will focus on four investment areas: therapeutics, healthcare services, healthcare IT/digital health, and medical technology… Vontobel Financial Products has launched its first listed structured products on the Hong Kong Stock Exchange. In the coming 12 months, 300 to 400 warrants and callable bull bear contracts will be launched, covering popular underlying assets. There will be 10 products initially. Hong Kong is the biggest market globally for leveraged products in terms of trading volume and the percentage of total market turnover, said Simon Yung, head of public distribution at Vontobel in Hong Kong, in a statement… |
| Robo-advisory |
| BNPP AM has acquired a majority stake in Gambit Financial Solutions, a Belgian provider of robo-advisory investment solutions. With BNP AM’s stake in the fintech firm, Gambit will be a preferred partner for robo-advisory solutions for BNP Paribas’ retail and wealth management networks… |
