M&G
M&G Investments (M&G) has appointed Amy Cho as head of Asia Pacific and as CEO, M&G Investments Singapore, subject to regulatory approval. She will join the business on 1 November 2023. Loretta Ng has decided to leave M&G in pursuit of personal aspirations.
Cho has a proven executive management track record and decades of experience driving business growth in the fund management industry. She will be responsible for accelerating M&G's distribution ambitions in the region, a key strategic priority for the firm, enabling the investment manager to better serve existing and prospective clients.
She was most recently at Schroders where she was chief executive officer, Hong Kong, and deputy Head, Asia Pacific. She led the day-to-day management of the Group's overall business in Hong Kong as well as having responsibility for regional activities. Before joining Schroders in December 2018, She has held senior positions at Pictet Asset Management, First State Investments, HSBC Asset Management and Citibank.
Neal Brooks, global head of product & distribution, M&G, said: "Asia is central to our growth ambitions and we have made strong progress during this year in strengthening our distribution capabilities and broadening our licencing arrangements. We look forward to welcoming Amy, who has a proven track record and significant experience in successfully driving business development, to drive our strategy and growth in the region, particularly in our focus markets of Japan, Korea, Taiwan, Singapore, and Hong Kong."
"Loretta has made a significant contribution to the growth of our Asian business since she joined in 2019, including the build out of our investment capabilities in the region. She leaves with our thanks for her dedication and with our very best wishes for the future."
Amy Cho said: "I am thrilled to be joining M&G at a time when the Asia-Pacific region is poised for unprecedented asset and wealth growth. My focus will be on further developing and deepening our relationships with asset owners and intermediaries, leveraging the firm's commitment to client-focused strategies and localised investment expertise. The APAC region is integral to the global success of M&G, and we look forward to contributing by ensuring that our initiatives are as successful locally as they are worldwide."
Universal Investment Group
Universal Investment Group, a European fund services platform and Super ManCo, has appointed Francesca McDonagh as its new Group CEO, effective January 1, 2024.
David Blumer, who has been leading the business as the interim Group CEO for the past five months, will continue as chairman from that date and support her and the management team in Universal Investment's continuing growth journey.
Mcdonagh has held international leadership roles in the financial services sector over the past 25 years with a focus on business growth and service as well as technology improvement.
Most recently, she was group chief operating officer of Credit Suisse Group where she led a number of strategic initiatives, while also helping oversee the bank's integration into UBS Group earlier this year.
Prior to that she was group CEO of Bank of Ireland, where she managed a successful repositioning of the Group over a five-year period.
During this time, she led two major acquisitions, re-set the culture of the organisation, improved customer service and developed a more scalable digital platform. Before becoming CEO of Bank of Ireland, Francesca held several senior management roles at HSBC, amongst others leading the European Retail and Wealth Management business.
In her new role, she will focus on driving growth through geographical expansion and M&A and will support Universal Investment as it continues to strengthen its offering to existing and new clients.
She will be backed by Universal Investment shareholders Montagu and CPP Investments, who are committed to actively support the company's growth trajectory over the coming years. The company has experienced strong growth, both organically - in growing alongside existing clients and attracting new ones - and through acquisitions: in recent years, the fund service platform has increased its presence in key European fund domiciles.
David Blumer, interim CEO and chairman of Universal Investment Group said: "We are proud to have Francesca, one of the most well-known leaders in European banking, join us as Universal Investment Group's new CEO.
"With her strong growth and execution track record as well as her client focus, Francesca is the ideal person to lead the next phase of the group's growth and service evolution. I look forward to supporting her and the management team in driving further internationalisation as well as the ongoing development of our technological and operational capabilities."
McDonagh said: "I very much look forward to joining the Universal Investment Group team and to making the business a truly global leader in its field. Further internationalisation will be key to accelerating Universal Investment's successful growth trajectory, enabling the firm to be an even better partner for its clients within and beyond Europe."
Downing
Tony Stenning, former CEO of Atlantic House, has joined Downing as its head of liquid alternatives and will launch a new fund, resurfacing almost a year after his departure from the top role.
Stenning brings more than 30 years' experience to the firm and will assist with Downing's growth.
He will also launch the Downing Active Defined Benefit fund, according to a Companies House filing.
Stenning joined Atlantic House in 2019 as a non-executive director, before taking on the chief executive role in July 2020.
He also served as head of BlackRock's UK retail business, holding roles with Mercury Asset Management and Merrill Lynch Investment Managers, which merged with BlackRock in 2006.
When he departed the firm in 2016, he took on the role of deputy chair, and then chair, of The Investing and Saving Alliance.
In 2019, during the fallout of the collapse of the former Woodford Equity Income fund, Stenning took over as chair of Link Fund Solutions, authorised corporate director to the fund.
He was quietly removed as a director in February 2021, with the chair position taken up by Alistair Reid, former CEO of CRUX Asset Management.
Stenning will be joined by Huw Price, who joins as Downing's head of alternatives structuring, also bringing more than 30 years' financial services experience to the role.
Most recently, Price was an executive director at Santander Asset Management, responsible for transformation and strategic change.
Stenning said: "I am thrilled to be joining Downing at this exciting time of growth for the firm.
"Downing has built an impressive platform and reputation over the last decade for spotting opportunities and designing products that truly meet investor needs. I look forward to working with Huw and the team here to help the firm expand and offer additional opportunities to our investor base."
Kostas Manolis, head of private market investments, added: "We are delighted to welcome Tony and Huw to the firm. Tony's significant public markets experience and his deep knowledge and creativity make him the ideal person to bolster Downing's strategic growth, complemented well by Huw's significant expertise.
"We look forward to the valuable contribution both will bring as we continue to expand our capabilities in line with client demand."
Securis Investment Partners
Securis Investment Partners, the independent Insurance Linked Securities investment manager, has made three key promotions within its sales and marketing team.
Steven Le Moing has been promoted to global head of sales and marketing. He joined Securis in January 2023 after more than 10 years at Scor Investment Partners. He is responsible for Securis' distribution strategy globally, overseeing sales, marketing and business development as well as client services.
Additionally, Securis has promoted Tiyasha Auddy to head of client portfolio management. In this role she will be responsible for managing the firm's strategic partnerships globally, including investment consultant relations.
As Securis continues to strengthen its global investor relations, the firm has appointed Alison Wallis as head of investor relations and business development for North America and Australia and Yoshihiro Okamoto as head of investor relations and business development for Japan.
Wallis has over 10 years business development and investor relations experience across institutional investors, private wealth investors and investment consultants, predominantly in Australia and New Zealand.
She will be based in the US and will be responsible for developing and executing Securis' growth strategy in North America, Australia and New Zealand, building and maintaining strong relationships with institutional investors. She was most recently at GAM Investments in Sydney where she led institutional distribution and worked in the global consultant relations team. She was also responsible for GAM's distributor relations with select investment managers, including Fermat Capital Management. Prior to GAM Investments, Alison worked at Brookvine and Deutsche Asset Management.
Yoshihiro's appointment further strengthens Securis' operations in Japan where it has had a presence for more than a decade.
He will be responsible for investor relations, client service and consultant relations in Japan. Yoshihiro has over 25 years' experience in the financial industry, primarily in asset management businesses with pensions and financial institutions as clients.
He was most recently general manager at Bayview Asset Management in Tokyo and previously at Willis Towers Watson and Invesco Asset Management.
Vegard Nilsen, CEO, Securis, said: "These new roles reflect Securis' continued focus on providing best-in-class service to our clients and partners. Steven will continue to ensure we remain an investor-centric firm, focused on providing an outstanding experience and service to our clients, with Tiyasha further building and strengthening the firm's strategic partnerships.
"We are also very pleased to welcome Alison to head up our business development in North America, Australia and New Zealand, and Yoshi to head our investor relations activity in Japan as we remain committed to serving our clients in the Japanese market. These appointments further strengthen our global coverage, and we look forward to benefiting from both Alison and Yoshi's technical ILS investment knowledge as well as their deep relationships and proven ability to deliver solutions to our clients."
These appointments follow Securis' recent distribution agreement with Union Bancaire Privée (UBP) to offer Securis' products to institutional clients and third-party distributors throughout Europe, Middle East and Asia.
Oakglen Wealth
Oakglen Wealth has named Richard Firth as consultant and Michael Clarke as investment director.
Clarke will be based in Jersey, offering support and guidance to private clients, family offices, and trust companies. He brings with him more than 35 years of industry experience, having held senior wealth management positions at HSBC and UBS.
His most recent position was executive director and head of Private Clients at UBS Wealth Management Jersey.
Firth, a financial services expert of 30 years, will be based in the UK. His experience includes roles at Quilter Cheviot, Cazenove, and Greig Middleton.
Before joining Oakglen Wealth, he served as an executive director and senior investment manager at Quilter Cheviot.
Dominic Tayler, Managing Director (UK), said: "Their extensive industry knowledge and impressive track records will be invaluable as we continue to expand our wealth management services and offer clients the highest level of expertise."
