This week…
People moves
Aviva Investors has appointed Peggy Wu as head of marketing for Asia-Pacific. She will be responsible for leading the marketing of specific products in the region, including the firm’s multi-strategy, fixed income and real estate products. Before Aviva Investors, she was Janus Henderson’s head of marketing for Southeast Asia…
State Street Global Advisors has appointed Johnnie Yung as head of portfolio strategies for Asia ex-Japan. Based in Hong Kong, Yung is responsible for developing portfolio recommendations and presenting SSGA investment strategies to institutional investors in Asia ex-Japan. Before SSGA, he was Blackrock’s head of beta strategies portfolio management for Asia ex-Japan, where he led a team of portfolio managers who manage global passive equity funds in the region…
SSGA has appointed Cyrus Taraporevala as president and CEO. He will replace Ron O’Hanley, who has been named as State Street Corporation’s CEO. O’Hanley will replace Jay Hooley, who will retire as CEO by the end of 2018 but will remain as chairman throughout 2019. O’Hanley also assumes the role of president and COO of State Street, and will replace Mike Rogers on those roles, who will retire at the end of 2017.
Malaysia’s CIMB has appointed Donald Hanna as its Hong Kong-based group chief economist. His experience includes managing macroeconomic teams for global financial institutions, including providing macro and market views at two hedge funds. Besides his current role, he sits on the Asian Development Bank’s international advisory group.
BNY Mellon Investment Management has made two appointments for its China business. Lydia Wu has been named institutional sales director. She joins from State Street Global Advisors and will be based in Hong Kong. Gigi Wang assumes the role of business development manager. She will be based in Shanghai, and was previously with Bosera Asset Management. They will both report to Jessie Zhang, head of institutional distribution for Greater China and Southeast Asia.
Confirming the news reported last week by FSA Spy, M&G Investments has formally announced the appointment of Alex Jeffrey as head of Asia-Pacific. Currently chief executive of M&G Real Estate in the UK, Jeffrey will assume the role from the second quarter of 2018, when he will relocate to Singapore. It will be his second stint in the city, where he worked from 2010 to 2012 as CIO of MGPA, an independent real-estate PE advisory company later acquired by Blackrock.
Institutional investors
Asia ex-Japan’s institutional investable and outsourced assets have risen 3.8% in 2016 to $12.9trn from the previous year, according a Cerulli Associates report. Last year, Asian institutions outsourced 14.2% of their assets, a percentage that rose from 11% in 2012 and is expected to increase up to 18% by 2021.
Robo-advisory
Malaysia expects to launch its first robo-adviser in the first half of 2018, according to a statement by Securities Commission Malaysia. The regulator launched the country’s digital investment management framework this year, which paved the road for automated discretionary portfolio management services to be offered in Malaysia.
