AIA
Group chief executive and president Keng Hooi Ng is to retire from his executive positions on 31 May 2020.
Yuan Siong Lee will be taking over both roles from 1 March 2020. He will fully succeed Ng from 1 June 2020.
Lee was previously at Ping An Insurance, which he joined in 2013, serving as an executive director as well as the firm’s co-chief executive and chief insurance business officer.
Carrick Wealth
Carrick Group managing director Mike Potts is to leave the company after 10 years.
He started out as group sales director and helped the firm launch its pension transfer business. He also worked to establish its virtual advisory business in Mauritius.
He will be returning to the UK.
In the meantime, chief executive Craig Featherby will assume Potts’ responsibilities until a replacement is found.
Deutsche Bank Wealth Management
The wealth management business of the German bank has made three senior hires within its global south Asia team.
Dubai-based Achal Aroura joined as managing director and group head from Julius Baer, where he served as a senior client adviser and group head Middle East and Africa for the non-resident Indian (NRI) business.
Mayank Khemka has been hired as head of discretionary portfolio management and chief investment officer for wealth management in India, based in Mumbai.
He was previously at Credit Suisse where he spent nine years as head of investment management, India.
Lastly, Akshay Prasad has been promoted to head of investment management for global south Asia, leaving his original role as head of capital market for emerging markets.
The promotion will be effective from 1 January 2020 and he will still be based in Singapore.
Kleinwort Hambros
The private banking and wealth management division of Seciete Generale has unveiled an interactive digital investment tool called Eva and promoted Gene Salerno to the newly create role of chief digital officer to lead the firm’s digital developments.
He has been at Kleinwort Hambros since 2011 when he joined as head of asset allocation and equities, becoming head of investment strategy in 2015.
Westpac
Australia’s Westpac Group has made a few changes to its board and c-suite.
As of 2 December 2019, group chief executive Brian Hartzer will step down and current chief financial officer Peter King will take over as acting chief executive.
Gary Thursby, the current chief operating officer, will act as chief financial officer.
Additionally, director Ewen Crouch will not seek re-election at the next annual general meeting.
Chairman Lindsay Maxsted has pushed forward his retirement to the first half of 2020, to oversee the appointment of a permanent chief executive.
Pacific Asset Management
Nicholas Lemis has been named head of UK wholesale distribution at Pacific AM.
He joins from DCI Asset Management where he was a senior product specialist responsible for European distribution.
Mercer
The advice and technology solutions provider has appointed Steve Sands as UK financial planning leader.
He will be responsible for the continued integration of JLT and Mercer Jelf financial planning teams into one business, as well as driving further growth.
Most recently, he was the UK director of platform distribution and workplace relationships at Standard Life.
Quilter Financial Adviser School
Julian Hince has been recruited as head of training to lead its financial advisory academy.
In the newly created role, he will be responsible for the school’s six trainers.
He joins from M&G Investments where he spent the last eight years as the technical development director.
Link Fund Solutions
The administrator of funds, which recently was under scrutiny as the authorised corporate director of the now defunct Woodford Equity Income Fund, has named Tory Stenning as its second independent non-executive director.
He was previously Blackrock’s head of retail, as well as managing director and chief executive of Blackrock Fund Managers.
Recently, he was also appointed as chair of The Investing and Saving Alliance, focusing on improving customers’ financial wellbeing.
Pine Capital
The executive chairman of the Singapore-based asset management firm has resigned.
Tomi-Jae Wanlun Tjio stepped down effective from 22 November 2019 for “personal matters”.
