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In case you missed it (10 January 2020)

Deutsche Bank Wealth poaches from Standard Chartered; Indosuez Wealth hires four RMs; Lombard Odier IM establishes thematic equities team; HSBC Global AM launches US income fund in Hong Kong; Hong Kong court convicts unlicensed fund manager; and more...
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STORIES YOU MAY HAVE MISSED THIS WEEK

 

People moves

Deutsche Bank Wealth Management has appointed Boris Kwok as group head for North Asia, with a focus on China. He reports to Kanas Chan, managing director and head of North Asia. Twenty other front-facing wealth management professionals will join Boris, six of whom are directors. The new hires are part of the firm’s expansion strategy in North Asia to increase the number of relationship managers by 40-50% in the next three years. Before Deutsche Bank Wealth, Kwok was Standard Chartered’s managing director and market head for the China team. In that role, he managed a team of at least 25 relationship managers and team heads, who all covered Greater China…

Indosuez Wealth Management has hired four relationship managers in Asia. They are: Priscilla Cheong, Lau Sim Yee and Ho Yee Lin in Singapore, and Eddie Hui in Hong Kong. All four hires were previously at different banks. Before Indosuez Wealth, Cheong was an executive director responsible for UHNWIs at UBS Wealth Management, Lau managed a portfolio of North Asian clients at Credit Suisse and Ho was a banker at LGT Bank in Singapore. Meanwhile, Hui was a senior relationship manager at Bank of China in Hong Kong…

Lombard Odier Investment Managers has bolstered its thematic equities franchise with three hires, which include Henk Grootveld, who will lead the team, Christian Vondenbusch and Jeroen Van Oerle. The new team will develop thematic equity strategies, with the first one investing in global fintech, which the firm expects to launch in the first quarter. Before LO, all three previously were at Robeco. Grootveld was Robeco’s head of the trends investing equity team, while both Vondenbusch and Oerle were portfolio managers at the firm…

T Rowe Price has appointed Ashlesha Vaishampayan to lead the firm’s consultant relations efforts in Asia. Based in Singapore, Vaishampayan will closely work with the firm’s business development and investment teams to enhance engagement with consultants, researchers and platforms. Before relocating to Singapore, Vaishampayan spent five months working in London with Nick Slater, head of Emea and Apac consultant relations, to whom she reports. Before T Rowe, Vaishampayan was at Russell Investments in London, where she was senior manager for UK consultant relations…

Business moves

HSBC Global Asset Management has launched the US Income Focused Fund to investors in Hong Kong. The fund, which is a mixed-asset product, adopts an income-focused strategy for investors who are looking for a potential monthly income stream. The fund invests at least 70% of its assets in US equities, US high yield bonds and US investment grade bonds. It also has the flexibility to invest in contingent convertible bonds, asset-backed securities, real estate investment trusts and cover calls…

Principal Asset Management Group (previously CIMB-Principal Asset Management) has reported that its AUM was at RM 88.1bn ($21.6bn) as of the end of December. The group is comprised of Principal Asset Management and Principal Islamic Asset Management in Malaysia, PT Principal Asset Management in Indonesia, Principal Asset Management Company in Thailand and Principal Asset Management in Singapore. In Malaysia, the asset management firm has RM 56.2bn in assets…

Pinebridge Investments has closed its first direct lending focused strategy, with capital commitments of $396m, according to a statement from the firm. The Pinebridge Private Credit fund’s strategy is to provide senior secured loans to US-based, sponsor-backed lower middle market companies through direct origination strategy. It primarily targets investments in the business services, consumer, food and beverage, industrial and healthcare sectors with $7.5m-$30m in Ebitda…

ESG

United Overseas Bank’s (UOB) investment management subsidiaries, which include UOB Asset Management, UOB Venture Management Private and UOB Global Capital, have become signatories of the United Nations-supported Principles for Responsible Investment (PRI). The bank noted that UOB AM started incorporating ESG factors in its investment process in 2017 and expects to complete implementation for all asset classes this year…

Enforcement

The Eastern Magistrates’ Court in Hong Kong has convicted Yau Ka Fai for conducting asset management business without a license from the Securities and Futures Commission. Yau has pleaded guilty and the case was adjourned to 16 January for sentencing. The court heard that between September 2011 and November 2015, Yau, who was not licensed by the SFC at the time, represented to investors that he was the manager of a fund known as “Tai Chi Hedge Fund” and received a commission for his services…

 

Part of the Bonhill Group.