STORIES YOU MAY HAVE MISSED THIS WEEK
People moves
Deutsche Bank Wealth Management has made two appointments to its lending management team in Asia-Pacific. June Wong has been appointed as head of emerging markets lending, while Tony Tan has joined the management team of Arjun Nagarkatti and remained his role as head of strategic lending, Asia & head of South East Asia and Global South Asia lending. Wong, who was previously the bank’s head of business risk management for Asia-Pacific, replaced Alek Pfajfer, who left the bank in December to pursue other opportunities…
Man GLG, the discretionary investment management business of Man Group, has appointed Irene Liaw as Hong Kong-based portfolio manager. Liaw is joined by Simpson Wong, who joins as a senior analyst, also based in Hong Kong. Both will report to Neil Mason, head of European long-short equity. Both were previously at Architech Capital, where Liaw was chief investment officer and portfolio manager, while Simpson covered Greater China…
Business moves
Bank of East Asia announced that it will be carrying out a comprehensive review of its portfolio of business and assets to ensure alignment with its strategic priorities and to increase shareholder value. Without revealing much, the firm said that the review will focus on the identification of potential strategic transaction which would enhance the value of the bank’s existing businesses and assets, as well as strategic alternatives for potentially non-core assets. The review is in response to pressure from activist shareholder Elliott Management, which had launched legal proceedings against the bank. Goldman Sachs has been hired as financial advisor for the review…
The coronavirus
HSBC in Hong Kong has introduced remote video conferencing services for its clients amid the coronavirus outbreak, according to a statement. The bank will be using video conferencing service Zoom for relationship managers to interact with customers remotely and conduct wealth management-related activities, such as going through customers’ financial needs, reviewing their investment portfolio and strategy and placing trades. The conferencing service will be available to all HSBC Jade customers and will be extended to HSBC Premier customers in the next few weeks…
ESG
UBS’ sustainable investments reached $488bn at the end of 2019, which represents around 13.5% of total investments, up from 5.6% in 2017. Of that $488bn, $3.9bn of client assets are invested in impact investments related to the United Nations Sustainable Development Goals. The firm expects that it will reach its goal of investing $5bn into impact investments by the end of 2021…
Ping An of China Asset Management in Hong Kong has joined the Climate Bonds Partners Programme, according to a statement from the firm. Under the programme, Ping An of China AM will promote investment in Asia’s green bond market and support the incorporation of international standards into green investment practices. The firm claims that it is the first Chinese asset manager in Asia to become a climate bonds partner…
