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People Moves: Nomura appoints new CIO; NPS chairman steps down

By NexChange
Asset Management

Nomura appoints new wealth management CIO. Johnny Heng, a 20-year investment veteran, has recently been named chief investment officer, wealth management, Asia ex-Japan by Nomura.

Prior to joining the Japanese firm, Heng was managing director and head of investment services, Asia for the British firm Coutts. Before that, he was head of investment consulting at Credit Suisse’s private bank, and held several positions at Singapore’s GIC, including membership on its management investment committee, as well as global head of equities trading. He will be based in Singapore and will report to Nobuhiro Sano, Head of Wealth Management, Asia ex-Japan. Nomura (pdf)

National Pension Service chief steps down. Dr. Choi Kwang, chairman of Korea’s National Pension Service (NPS), has reportedly tendered his resignation from the mammoth sovereign wealth fund.

Dr. Choi, who spent most of his career as an economist following his PhD from the University of Maryland, joined the NPS in 2013, and apparently had several months left on his three-year term. Asia Asset

Rothschild names new North Asian head of wealth management. Audrey Zau, a 15-year veteran of HSBC, has been appointed head of wealth management for North Asia by Rothschild.

Zau joins the firm from BHI Investment Advisors, where she held a similar role. Prior to that – and as previously mentioned – she spent 15 years at HSBC, holding several key roles in the British firm including senior director. She replaces Alois Mueller – who left the firm two years ago – and reports to Richard Martin, chief operating officer of Rothschild’s wealth management and trust business. She will continue to be based in Hong Kong. eFinancialNews

Photo: Luke Ma

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