HSBC Asset Management moves CEO to HK. Sridhar Chandrasekharan, a long-time HSBC man and current CEO of the firm’s asset management arm, apparently moved to Hong Kong a few weeks ago to reignite the British bank’s Asian operations. HSBC had this to say regarding his transfer:
“As a global asset manager, we believe there are opportunities for us to grow our business with our clients and contribute to the evolution of the investment markets.”
The move is seen by many as a return of the firm’s power base back to Asia, though whether or not HSBC’s banking unit will follow, is still unknown. Reuters
RBC GAM appoints new Asia-Pacific chief. Ken Tam, a 25-year veteran of the financial services industry, has reportedly been named managing director and head of Asia for RBC Investment Management (Asia) Limited. Clive Brown, RBC GAM’s CEO and Tam’s direct superior, seemed to be particularly pleased with his new hire:
“The Asia-Pacific region is an important component of RBC Global Asset Management’s international growth plans. Mr. Tam’s extensive experience in the Asian asset management industry will help RBC GAM continue to grow and enhance our service to clients in the region. I look forward to working with Ken, and am pleased that RBC GAM’s investment strength and collaborative, client-focused culture enables us to attract top industry talent.”
Tam joins RBC from Deutsche Asset & Wealth Management, where his most recent role was managing director and Asia ex-Japan head of the firm’s Global Client Group. Prior to that, he spent 19 years at JP Morgan Asset Management, serving the American company in various roles including managing director for North Asia. PR Newswire
JP Morgan AM names new Japan boss. Shoichi Ohkoshi, an old hand in Japan’s asset management arena, has recently been appointed president of JP Morgan Asset Management Japan. He will begin his new role effective September 1, 2015. On Ohkoshi’s appointment, Michael Falcon, Asia-Pac CEO for J.P. Morgan Global Investment Management, had this to say:
“I am very pleased with the appointment of Shoichi as our new business leader in Japan…His in-depth insights into the financial markets will also be immensely helpful to our clients in all aspects of their business. Japan is an extremely important market for J.P. Morgan and we see great growth opportunities in the investment trust business. I am confident that, under Shoichi’s strong leadership, our business will continue to strengthen and grow.”
Prior to joining JP Morgan’s asset management unit, Ohkoshi spent 21 years in the firm’s securities arm, where he held various senior positions including the dual role of head of fixed Income / equities sales & marketing at JPMorgan Securities Japan Co., Ltd. and head of fixed income sales & marketing at JPMorgan Chase Bank, N.A., Tokyo. JP Morgan
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