STORIES YOU MAY HAVE MISSED THIS WEEK
People moves
HSBC Global Asset Management has made two CEO appointments in Asia. Patrice Conxicoeur, who is currently CEO for Japan, has been named as CEO for Singapore and head of Southeast Asia, subject to regulatory approval. In his new role, Patrice will relocate to Singapore from Japan, and will be responsible for expanding the business in Southeast Asia, with Singapore, Malaysia, Indonesia, Thailand and the Philippines as key markets. Following the move, Masayuki Kaneko will replace Conxicoeur as head of Japan. Kaneko currently is deputy head of global banking and head of financial institutions group at HSBC in Japan. Both Conxicoeur and Kaneko will report to Pedro Bastos, CEO for Asia-Pacific…
Fidelity has appointed Marcella Pun as head of wholesale business for Hong Kong. In her new role, Pun will lead the planning and implementation of sales strategies and strengthen the firm’s relationship with key distribution partners, such as retail banks and insurance companies. She will report to Kim Ping Luk, head of Hong Kong. Before Fidelity, Pun was JP Morgan Asset Management’s head of Hong Kong intermediary business. She also held positions in several other asset management firms, including Blackrock and Societe Generale…
State Street Global Advisors has promoted Benjamin Colton as Boston-based global co-head of asset stewardship, according to his Linkedin profile. Previously, he was the firm’s Tokyo-based head of Asia-Pacific asset stewardship – a role he assumed when he joined SSGA in 2018. Before that, he spent three years at Norges Bank Investment Management, where he was a member of the active ownership team…
Gam Investments has appointed Greg Clerkson to fill the newly-created role of head of discretionary investment, effective 1 March, according to a statement from the firm. Reporting to group CEO Peter Sanderson, Clerkson will be responsible for leading the business management of discretionary teams across fixed income, equity and real estate debt. He will partner will Anthony Lawler, who leads GAM’s systematic and investment solutions. Clerkson joined Gam in 2017, initially as global head of consultant relations, before taking on a broader role as global head of product strategy and solutions in 2019. Before Gam, Clerkson was head of global consultant relations at Edmond de Rothschild and Bluecrest Capital Management…
AUM up
J Safra Sarasin’s AUM grew 13% to CHF 185.8bn ($185bn) in 2019, with net new assets of CHF 5.6bn, according to the firm’s annual results. Net profit was also up by 9.5% to CHF 380.2m in 2019 from CHF 347.3m in 2018…
Hedge fund flows
Following a challenging 2019 when investors pulled out $100bn from the global hedge fund industry, 2020 started off on a positive note, with investors adding $10.38bn to the hedge fund business, according to an Evestment report. Among primary hedge fund strategies, multi-strategy funds were the big winners, with net inflows of $4.53bn during the month. On the flipside, managed futures, distressed and macro funds saw net outflows during the month…
Grab app
Southeast Asia’s Grab app has received an investment of at least $850m from Japanese investors, including Mitsubishi UFJ Financial Group (MUFG) and TIS, according to a statement from the firm. MUFG will invest $706m, while TIS, which provides network solutions and system integration services, will invest $150m. Both Grab and MUFG will co-develop financial products and services. Meanwhile, Grab and TIS will collaborate on developing emerging payment technologies. Earlier this year, the ride-hailing firm announced that it was buying B2B robo-advisory firm Bento in Singapore. Grab added financial services products, such as consumer insurance and lending, in 2019…
