Weekly roundup of celebrity news, January 7 | Asset owners
TOKIO MARINE APPOINTS NEW CEO FOR ASIA
Masahito Hirai has been appointed Managing Director of Tokio Marine Asia, based in Singapore, effective January 1.
In the new role, Hirai reports to Noboru Yamagata, Managing Director. Hirai succeeded Noboru Yamagata, who was interim CEO and will continue in his broader role as Managing Director of Tokio Marine Holdings, in charge of operations in Asia. He is also a director of Tokio Marine Asia.
Hirai was most recently the Deputy CEO of General Insurance Operations of Tokio Marine in Malaysia, where he was involved in strategic business planning, talent development and corporate management. The insurer has not announced a new deputy general manager. Yasuhiro Miyoshi, Managing Director of Corporate Strategy, will assume the role, said Tokio Marine AsianInvestor.
BEN RUDD RECEIVES A NEW TITLE AT PRUDENTIAL
Ben Rudd, the former chief investment officer of Prudential in Hong Kong, was awarded a new title of CEO of Prudential Wealth Management starting in January, according to his post on LinkedIn.
The headline deviates from the insurer’s announcement in March last year when Rudd was appointed director of wealth management for Hong Kong after spending four years as CIO, reported AsianInvestor at this moment.
In his post on LinkedIn, he added that he will be joined by a team, mostly made up of internal transfers within Prudential. This includes Sophie Zheng, who moved from Director and Head of Investment Management at Prudential Hong Kong to Head of Investments at Prudential Wealth Management, starting in January.
Rudd joined Prudential in 2017. Previously, he was CIO of the Hong Kong-based Caravel family office since March 2014.
The firm did not respond to emailed questions about its role and responsibilities.
Kim chung keun
SAMSUNG SRA ASSET MANAGEMENT CIO PROMOTED TO CEO
Samsung SRA Asset Management has appointed its former chief executive and chief investment officer Kim Chung-keun as chief executive, effective Monday (January 3), the property investment manager said on Wednesday.
Based in Seoul, Kim joined Samsung SRA in November 2019 as CIO. He succeeded former CEO Bumchul Lim, who had led the company since mid-2020.
Prior to joining Samsung, Kim worked for Korea Investment Corporation for over nine years, covering alternative investments, from private equity to real estate and infrastructure. He was one of the founding members of the establishment of the KIC Real Estate and Infrastructure Investment Program. He stepped down as head of infrastructure for the sovereign wealth fund in October 2019.
HKEX RECRUITS A MANAGING DIRECTOR OF PRUDENTIAL STAFF
Former Prudential Hong Kong human resources manager Kerry Rooks will join Hong Kong Exchanges and Clearing (HKEX) as director of human resources, the regulator said on Tuesday (January 4th).
Rooks will join on January 10 and report to General Manager Nicolas Aguzin. She will also become a member of the group’s management committee.
Based in Hong Kong, Rooks will be responsible for the human resources function within the HKEX group, leading a team of human resources professionals in Hong Kong, mainland China and overseas, helping to ensure that HKEX continues to have the best talent and talent management programs, HKEX mentioned.
Rooks succeeds Paul Choi, the group’s head of human resources, who plans to pursue other professional interests outside of HKEX. Choi will remain at HKEX as an advisor until March 31.
Rooks was at Prudential Hong Kong before HKEX. She joined the life insurer in 2008 and was until recently Director of Human Resources. She left in December 2021 and Catherine Kwok, head of people and organizational development, currently has all human resources responsibilities until further notice, Prudential Hong Kong said. AsianInvestor.
STATE STREET ETF EXPERT JOINS HSBC ASSET MANAGEMENT
Cheong Mun Fai
HSBC Asset Management has appointed Cheong Mun Fai as senior vice president, ETF and indexing business development, effective December 1, he said Thursday. Based in Singapore, Cheong reports to Jacqueline Pang, ETF and Indexing Sales Manager, Asia Pacific.
In the newly created role, Cheong is responsible for the growth and distribution of the ETF and indexing business of HSBC and Hang Seng, covering various segments ranging from insurance companies, asset managers, pensions, private banks and financial intermediaries.
Prior to joining HSBC Asset Management, Cheong was Vice President of State Street Global Advisors until November 2021, responsible for leading SPDR ETF’s sales efforts on institutional and intermediary channels in Singapore. State Street will appoint a Singapore chief to cover all of its SPDR ETF activities in the country after Cheong leaves, he said. AsianInvestor.
MORNINGSTAR APPOINTED CHIEF RESEARCH MANAGER, EUROPE, APAC
Morningstar has appointed Wing Chan to lead manager search, Europe and Asia-Pacific, effective Jan. 1, the company said Thursday.
Chan joined Morningstar in 2013. He was most recently Director of Manager Research Practices, Europe, Middle East & Africa (EMEA) and Asia, at Morningstar Investment Management Asia.
He is still based in Hong Kong. In the newly created role, Chan oversees Morningstar’s European and Asia Pacific manager research analyst teams, including regional practices in the UK, Australia and New Zealand. He continues to oversee the cross-border practice, which includes teams of analysts in Continental Europe and Asia.
Chan reports to Chicago-based head of quantitative research and management Lee Davidson, the company said. AsianInvestor.
PGIM ADDS ESG LEADER FOR EUROPE AND APAC
Julie Townsend, PGIM
PGIM Real Estate has appointed Julie Townsend Head of ESG for Europe and Asia-Pacific, based in London and effective January 5. PGIM Real Estate is the real estate investment and financing business of PGIM, the global investment management business of Prudential Financial, valued at $ 1.5 trillion. This is a newly created role, according to a spokesperson.
Joining PGIM Real Estate’s global ESG team, Townsend will oversee ESG strategy and its implementation in the Europe and Asia-Pacific regions and be responsible for building on the ambitious sustainability goals and targets of the business. Townsend will report to Christina Hill, Global Head of ESG and Head of Asset Management for the Americas.
Townsend joins PGIM Real Estate after spending fifteen years with CBRE, most recently as Head of Environmental Consulting.
CBRE did not respond to emailed questions about his replacement.
APEX ADDS SINGAPORE ®
John Davis, Apex Group
Apex Group has appointed John Davis as Managing Director of Singapore, effective January 5.
Reporting to Valerie Mantot-Groene, Regional Managing Director for Asia-Pacific, Davis will be responsible for leading a team of over 100 local experts and driving the continued growth and performance of the business in the Apac region.
Davis brings over 13 years of experience in the fund services industry, serving as a member of the executive committee of the Singapore Fund Administrators Association and most recently as Managing Director, Singapore at Mainstream Group.
This latest appointment follows the company’s expansion of its Apac business with the hires of Andrea Gallenca as Head of Private Market Sales – Australia and Prakash Kharel, Head of Real Estate, Asia-Pacific, Debbie Lee as Country Manager, China.
YOUR ASSOCIATES MAKES THREE PROMOTIONS IN ASIA
TA Associates, a U.S.-based growth private equity firm, on Wednesday announced promotions for global investment staff, including three in the Hong Kong and Mumbai offices, effective Jan.1.
Based in the Hong Kong office of TA Associates Asia Pacific, Andrew Tay was promoted to Director after serving as Director. It will focus on investments in the Asia-Pacific region in the areas of technology, healthcare, business and financial services. Prior to joining TA in 2019, Tay was Vice President of Baring Private Equity Asia.
Also based in Hong Kong, Michele Lim has been promoted to Senior Associate Vice President. She will be responsible for investing in companies in the Asia-Pacific region, with a focus on South East Asia. Lim joined TA as a partner in 2018. Prior to TA, she worked at Khazanah Nasional Berhad, Malaysia’s sovereign wealth fund for over four years, and her last title was Assistant Vice President, Investments.
Meanwhile, in TA Associates Advisory’s Mumbai office, Gurnoor Kaur has been promoted to Senior Associate Vice President, focusing on investments in business service companies in India. She joined TA as a partner in 2018. Prior to that, she worked for more than two years in the investment banking division of Rothschild & Co.
Lim and Tay both report to Ed Sippel, Managing Director, who heads operations in Asia. Kaur reports to Managing Director Dhiraj Poddar, who heads India operations, said TA Asian investor.
UBS MAKES TWO ESG APPOINTMENTS
USB made two new appointments within its Asia-Pacific sustainable finance office, namely Esther Tsang as Head of Corporate Environmental, Social and Governance (ESG) Strategy and Beatrice Faessler as Chief ESG project, according to an internal note consulted by Asian investor.
Tsang joined Bloomberg Intelligence where she was an ESG analyst. She joined Bloomberg in October 2020 and was responsible for climate change and sustainability services at consulting firm EY for six years previously.
Faessler has worked at UBS for seven years, most recently as a business strategist for global super-net-worth family businesses while based in Hong Kong. She left the Zurich office in 2017 where she held a similar position.
Both took office this week and report to Greater China Unit Chief Tasos Zavitsanakis. Both positions are newly created, according to a spokesperson for UBS.