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Private bank names chief executive, while French asset manager appoints COO
Private bank names chief executive, while French asset manager appoints COO
Fund manager names Asia head, while former Old Mutual chief resigns from board of South African bank
Former RBS chief moves to Australian bank, while digital advice firm makes C-suite hire
Management change-up for the France-based insurance firm as deputy CEO and CFO departs
Three firms hire new CEOs and Nedbank Private Wealth names head of investments in Jersey
Resignation at the top for Columbia Threadneedle moving to L&G role
Old Mutual will reduce its 54% stake in South African lender Nedbank to 19.9% as part of its ongoing plans to restructure and separate its business.
South Africa’s credit rating downgrade to junk status has had an inevitable knock-on effect on the country’s life insurers and banks, including Nedbank, Old Mutual and Sanlam.
Old Mutual has agreed to sell a minority stake in its US asset management business to Chinese financial services group, HNA Capital, for $446m (£354m, €410m).
South Africa’s Nedgroup Investments has launched a global property fund, managed by Sydney-based real estate securities specialist Resolution Capital.
Generali has confirmed that a top executive in Asia has resigned, while a Schroders veteran is set to leave the company after a recent corporate restructure saw his role disappear. Standard Chartered, meanwhile, has named a heavy hitter from the IMF as its next chairman and appointed a private banking regional head in Asia.
Old Mutual Emerging Markets (Omem) has teamed up with pan-African banking group Ecobank Transnational Incorporated (ETI) as part of a move to expand its operations into French-speaking nations such as Senegal and the Ivory Coast.