This week…
| Firm news |
|
Lombard Odier’s total client assets rose 4% during the first half to CHF 242bn ($251.74bn), according to its earnings report. Of this, client assets in the private client business amounted to CHF 125bn, while asset management clients invested CHF 46bn with Lombard Odier Investment Managers… |
| People moves |
|
Societe Generale has appointed Florian Dumas in the newly created role of Hong Kong-based Asia-Pacific head of financial institutions sales for fixed income and currencies. Before Societe Generale, he was BNP Paribas’ head of foreign exchange and rates for Asia institutional sales. Northern Trust has appointed Yen Leng Ong as country head for Singapore and head of Southeast Asia. Effective in December, Ong will be responsible for leading the firm’s asset servicing business activities. Ong is currently the firm’s chief administrative for Asia-Pacific and head of product management and will continue to report to William Mak, head of Asia-Pacific… Willis Towers Watson has appointed David Maneval as South Asia Property and Casualty sales and practice leader for the firm’s insurance consulting and software business in South Asia. Based in Singapore, he is responsible for leading and developing the non-life insurance consulting practice across the region, covering countries such as Singapore, Thailand, Indonesia, Malaysia and Vietnam. Before Willis Towers Watson, Maneval held a number of senior roles in Singapore and the UK, including chief reinsurance officer for Asia-Pacific at AIG and head of Actuarial Asia at Aon Benfield… |
| ETFs |
|
US ETF assets surpassed the $3trn mark for the first time in July, according to a Cerulli Associates report. Net flows into ETFs in July was $29.6bn, while mutual funds only saw inflows of around $18.7bn… |
| Investor confidence |
|
Asia’s investors have become more confident in the market, according to State Street Global Exchange’s investor confidence index. The Asian index rose by 3.3 points to 99.3, while the indices for North America and Europe decreased by 0.3 to 111.8 and 4.9 to 89.3, respectively… |
| Fintech |
|
Hong Kong’s Securities and Futures Commission has signed a fintech cooperation agreement with the Dubai Financial Services Authority (DFSA). Under the agreement, the SFC and the DFSA will cooperate on information sharing, potential innovation projects and referrals of innovative firms seeking to enter one another’s markets… |
