STORIES YOU MAY HAVE MISSED THIS WEEK
People moves
Cedric Lizin has officially started on his new role at Standard Chartered Private Bank this week as regional head for Asean and South Asia and global head for global south Asia community. Lizin replaced Srinivas Siripurapu, who is returning to India to spend time with his family, as reported in October. Lizin was previously the head of wealth management for Dubai at UBS…
KPMG has created a wealth and asset management centre of excellence and has appointed Neil Macdonald to head the new centre, according to a statement from the firm. Macdonald, who will be based in Hong Kong, was previously the firm’s managing director for its asset management practice in the UK. The firm said that the vision for the centre is to become the “first call” for C-suite clients across the wealth and asset management segments in Hong and China…
Alan Dalgleish, Asian Association for Investors in Non-Listed Real Estate Vehicles’ (Anrev) CEO, has decided to step down to pursue other opportunities, according to a statement from the association. The previous CEO and current representative for Anrev in Europe, Jeremy Stewardson, will be replacing Dalgleish on the interim and will relocate to Hong Kong in January. “The board and I will be looking for the right candidate to take the association on into the long-term future,” Stewardson said…
Hedge funds
Russia- and China-focused funds are likely to be the best performing categories in the hedge fund industry this year, according to a report by Evestment. Year-to-date, Russia-focused hedge funds have returned 19.01%, while China-focused hedge funds performed 17.8%. Meanwhile, long/short equity funds have continued to be the best performing primary strategy this year, returning 12.12% this year…
IPOs
Hong Kong’s bourse has once again ranked first globally in terms of initial public offering (IPO) proceeds, cementing its position as the world’s leading IPO hub, according to a report from KPMG. By the end of 2019, Hong Kong will have completed 160 IPOs, raising a total of HK$307.8bn ($39.44bn), with a historical high of 145 new mainboard listings, compared with 130 in 2018. The report noted that the total fundraising this year was largely driven by two mega-sized deals: Alibaba’s secondary listing and the listing of Budweiser Brewing Company. Separately, the report added that the fundraising in the A-share market is at its highest level since 2011, with a combined RMB 251.9bn ($36.13bn) raised from 200 new listings by the end of 2019…
