STORIES YOU MAY HAVE MISSED THIS WEEK
Franklin Templeton changes
Franklin Templeton has appointed Vivek Kudva as the new head of Asia-Pacific, including India, reporting to the newly announced head of global advisory services, Adam Spector. In his new role, Kudva will be responsible for leading the firm’s retail and distribution across the region and will continue to be based in Mumbai. Kudva’s appointment is effective at the completion of Franklin Templeton’s acquisition of Legg Mason, which is expected on 31 July. Before his new role, he was the firm’s head of EMEA and India.
Meanwhile, Mark Browning, managing director for Asia-Pacific, and David Chang, regional head for Greater China, will exit the firm. Andy Sowerby, currently CEO of Australia and New Zealand and head of Asia-Pacific (ex-Japan) at Legg Mason, has decided to leave the organization. All three will be staying on for a transitional period after the acquisition.
Besides Kudva, the firm will make several changes in its senior management team following its acquisition of Legg Mason, which include:
• Linda Liang will take up a new role as head of China strategy, overseeing the business of its wholly foreign-owned enterprise (WFOE) in China, as well as its joint venture firm, Franklin Templeton Sealand Fund Management
• Isabella Chan will be appointed as head of Hong Kong, with additional responsibility for the Taiwan business. Shannon Wang will continue as general manager at Legg Mason Investments in Taiwan and will report to Chan
• Avinash Satwalekar will take up on an expanded role as country head of Malaysia, with additional responsibility for the oversight of Asia marketing (ex-Japan and India). He will continue to serve as chairman of the board for Vietcombank Fund Management, Franklin Templeton’s JV in Vietnam with Vietcombank
• Dora Seow will take up an expanded role as country head of Singapore and the broader Southeast Asia region (ex-Malaysia and Vietnam), with additional responsibility for Asia institutional client services
• In Japan, Suguru Kuwahata, currently president of Legg Mason Asset Management (Japan), and Tatsuya Oguchi, currently president of Franklin Templeton Investments Japan, will both report to Kudva and continue to develop the Japan business
• Matthew Harrison will continue in his role as managing director for Australia and New Zealand
• Sanjay Sapre will continue in his role as president of Franklin Templeton Asset Management (India)
• Richard Surrency, head of alternatives for Asia, will continue in his role
People moves
HSBC Global Asset Management has appointed Luther Bryan Carter as its new head of global emerging markets debt (EMD), effective immediately. Based in London, he will report to Xavier Baraton, global CIO for fixed income, private debt and alternatives. Carter has 20 years of industry experience, most recently as lead portfolio manager for EMD at BNP Paribas Asset Management, where he hired and led a team of 16 professionals. In his new role, Carter will be responsible for the management of HSBC Global AM’s global EMD team, investment process and portfolios, following the completion of relevant due diligence and regulatory approval. He takes over from Nishant Upadhyay, who remains with the firm and will focus on fixed income investment platform projects…
Allianz Global Investors has strengthened its Asia-Pacific multi-asset team. Zijian Yang will re-join the firm as Singapore-based head of multi-asset for Asia-Pacific, while Jingjing Chai will relocate to Hong Kong from New York to take up the role of head of multi-asset for Hong Kong and Taiwan. Yang will report to Thomas Zimmerer, global head of multi-asset investments, while Chai will report to Yang. Before rejoining the firm, Yang was a senior vice president for multi-asset solutions at Alliance Bernstein in Singapore. Before that, he was a portfolio manager in several multi-asset teams at Allianz GI between 2008 and 2017, first located in Frankurt and later in Hong Kong. Meanwhile, Chai joined Allianz GI in 2012…
Business moves
New York-based ETF provider Global X has launched the Global X Telemedicine and Digital Health ETF in the US, which adds to the firm’s suite of 20 thematic growth offerings. The new product invests in companies involved in telemedicine, healthcare analytics, connected healthcare devices and administrative digitization. “Despite the groundbreaking advancements in genomics, pharmaceuticals and biomedical devices, many aspects of the global healthcare system remain entrenched in outdated and analog processes,” Luis Berruga, Global X’s CEO, said in a statement. “The accelerating adoption of telemedicine solutions over recent months puts into focus the immense benefits that digital technologies can have across the healthcare sector…”
First State Investments (FSI) has announced it will operate globally under the new brand, First Sentier Investors, from September. The name change comes as part of a global re-brand, following the acquisition of FSI in August last year by Mitsubishi UFJ Trust and Banking Corporation (MUTB). FSI will move to First Sentier Investors across all global markets, with a final transition date scheduled for 22 September. The business already operates as First Sentier Investors in Australia, where it was formerly known as Colonial First State Global Asset Management. There will be no change to the business’s investment teams or investment process as a result of the rebranding. In addition, FSI’s investment teams Stewart Investors, FSSA Investment Managers and Realindex will continue to operate under their current brand names…
