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UBS hires head of wholesale distribution

Posted by Anton Murray Consulting on . Posted in News, Funds Management News


UBS Asset Management has hired Ben Williams as its new head of wholesale distribution for Australasia. Ben Williams joins UBS Asset Management from Lazard Asset Management where he is currently the national manager, retail. Mr Williams, who has also worked at BlackRock and Merrill Lynch in distribution roles, will be UBS Asset Management’s head of wholesale distribution in Australasia.

Commenting on the appointment, UBS chief executive for Australia and New Zealand Bryce Doherty described Mr Williams as a “highly experienced, widely respected and well-credentialed leader within the asset management industry”. “He adds considerable expertise to our already successful wholesale team and is a very welcome addition to UBS Asset Management,” Mr Doherty said. For his part, Mr Williams said, ” UBS Asset Management is building and managing everything you need to succeed as a long-term investor, so we plan on working with as many Australians as we can in the years ahead, and delivering the best of breed investment outcomes they desire.”

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Japan’s MS & AD Insurance Group buys stake in Challenger

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The Australian

Challenger will have a new major shareholder after Japanese investors MS & AD Insurance Group revealed plans to buy a 6 per cent chunk of the Australian group. Challenger will carry out a $500 million share placement to the group and the transaction shows the growing interest from Japanese investors in Australian financial services. Tokyo reports say the group will spend $US401 million to pick up the stake.

Mitsui Sumitomo Primary Life Insurance has a distribution agreement with Challenger and the pair have formed a stronger partnership over the past year. Nikkei reported that MS & AD plans to lift its Challenger stake up to 10 per cent. MS & AD was advised by Citigroup while Challenger did not have external advisers.

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Aberdeen Completes Merger with Standard Life

Posted by Anton Murray Consulting on . Posted in News, Funds Management News


Newly merged entity Standard Life Aberdeen has announced the new leadership structure for its Australia business. Aberdeen Asset Management and Standard Life have completed their merger, first announced in March 2017, creating a new entity with just under $1 trillion in assets under management. The new entity, which will be known as Aberdeen Standard Investments, will be led in Australia by former Aberdeen managing director Brett Jollie.

Former Standard Life Investments (SLI) Australasia head Simone Bouch will head up distribution for the new firm. Stuart James, who was Aberdeen’s head of distribution in Australia, will retain a senior role in the business. Former SLI Australasia chairman Peter Young will continue to advise the business.

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Meet two expanding banks that might now recruit you in Singapore

Posted by Anton Murray Consulting on . Posted in News, Investment Banking News, Market Commentary, Investment Banking MC

Simon Mortlock, efinancialcareers

Private bankers in Singapore have yet more potential employment options to consider after Indonesia’s Bank Mandiri and Liechtenstein’s VP Bank announced expansion plans in the Republic. But both firms will need to work hard to convince relationship managers to join them as larger competitors – from Julius Baer to Deustche Bank – also step up their recruitment. Bank Mandiri is opening a full branch in Singapore.

It will mainly target previously hidden Indonesian wealth in the city state – currently held by other banks and valued at $55.7bn – that has recently been declared under Indonesia’s tax amnesty programme. Recruiting new Singapore-based RMs will be problematic, however. While Mandiri is Indonesia’s largest bank, some Indonesian clients won’t want the same firm to manage their onshore and offshore assets, says a former Asian private banker who asked not to be named.

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Nikko AM appoints global equity manager

Posted by Anton Murray Consulting on . Posted in News, Investment Banking News


Nikko Asset Management has appointed Jeremy Hall as an investment director within the firm’s global equity team. Mr Hall, who will be based in Edinburgh with the Nikko AM global equity team, makes the move from Cartesian Capital Partners where he was responsible for UK equity long and long/short funds. In his new role, he will be a portfolio manager responsible for high conviction and benchmark-unconstrained global equity long-only portfolios.

Mr Hall is a chartered financial analyst and a chartered accountant with 17 years of experience. William Low, Nikko Asset Management head of global equity, said, “The global equity team places significant emphasis on teamwork, its investment ethos and having clear shared values. In this regard we are excited to welcome Jeremy to the team. “He has a long track record of undertaking research and picking stocks within high conviction equity portfolios. His investment style is highly aligned with the team’s focus on ‘future quality’ firms.”

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