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News in Brief - Caproasia Online

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Top Headlines in the Last 7 Days 

(25th Sept – 1st Oct 2017)

No. 1 Philip Kunz Returns to HSBC as Head of Global Private Banking for Southeast-Asia

HSBC announced the return of Philip Kunz as Head of Global Private Banking, South East Asia.  He will report to HSBC Singapore’s Chief Executive Officer, Tony Cripps and functionally to Regional Head of Global Private Banking, Asia-Pacific, Tan Siew Meng.
Philip joins from UBS where he held a number of senior wealth management and private banking roles, including overseeing client management teams and most recently as Wealth Management COO for the Singapore office.  He has more than 35 years of experience, including the last 20 years in Asia, including formerly with HSBC leading the South Asia team. Learn More …

No. 2 Global HNWI Population Grew by 7.5%, Wealth by 8.2%

In the World Wealth Report 2017 released by Capgemini, global HNWI population (Asia-Pacific, North America and Europe) grew by 7.5% to 16.5 million, while their wealth grew by 8.2%.  Asia-Pacific remains the world’s largest HNWI market, with 5.5 million HNWI population.

Russia grew both population and wealth at about 20%, the fastest of all the markets … Learn More …

No. 3 MAS Survey Results – S$2.74 Trillion Managed Assets in Singapore at End of 2016

Singapore-based asset managers managed a combined S$2.74 trillion AUM, an increase of $180 million from S$2.56 trillion in 2015.
Discretionary AUM also increased from 52% to 53% of AUM in 2016.  Of the $2.74 trillion AUM, Private Equity managed $152 billion (5.5%) while Hedge Fund managed $138 billion (5%).  There are a total of 660 registered & licensed fund managers, and 32 new fund managers.  Learn more …

No. 4 BNP Paribas Hires Shafali Sachdev as Head of FX Advisory & Execution in Asia-Pacific

BNP Paribas has hired Shafali Sachdev as Head of FX advisory and Execution for Asia Pacific to its Wealth Management unit.  She will report to Arnaud Tellier, Head of Investment Services, APAC.
Shafali joins from Citi Private Bank, where she was the head of FX and structured FICC.  She has over over 20 years of investment banking and wealth management experience, including 13 years in senior FX roles at Citibank.  Learn More …

No. 5 Janus Henderson Investors Appoints Jim Cielinski as Global Head of Fixed Income

Janus Henderson Investors has appointed Jim Cielinski as Global Head of Fixed Income, and from 1st November 2017, he will lead more than 100 investment professionals around the world.

Jim has more than 30 years of investment management experience and was most recently Global Head of Fixed Income for Columbia Threadneedle Investments, where he oversaw fixed income globally, including more than 165 investment professionals and $190 billion in fixed income assets under management.

Prior to joining Columbia Threadneedle in 2010, Jim spent 12 years at Goldman Sachs Asset Management … Learn More …

 

No. 6 Commonwealth Bank of Australia Reviews Colonial First State Global Asset Management, Including IPO Possibility

Commonwealth Bank of Australia is undertaking a strategic review of its global asset management business – Colonial First State Global Asset Management, known outside of Australia as First State Investments.

The strategic review will consider a range of options, including an IPO.  The asset management business is a global, diversified investment management business with A$219 billion. Learn More …

 

No. 7 Commonwealth Bank of Australia Announces Sale of its Life Insurance Business to AIA for $3.8 Billion

Commonwealth Bank of Australia (CBA) announced the sale of its Australian (“CommInsure Life”) and New Zealand (“Sovereign”) life insurance businesses to AIA for $3.8 billion.  The $3.8 billion sale represents a P/E of 16.9x (FY2017).
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The sale includes a 20-year partnership with AIA for the provision of life insurance products to customers in Australia and New Zealand.  AIA is the largest independent publicly listed pan-Asian life insurance group.  The transaction is expected to be completed in 2018. Learn More …



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