Pixabay CC0 Public Domain. Los gestores de fondos latinoamericanos mejoran de forma significativa sus perspectivas sobre la renta variable mexicana
According to Family Wealth, UBS Wealth Management has a new leader for the Latin America and Caribbean regions, effective March 30. Alexander G van Tienhoven, a former manager at Citi, will join the company, based in Zurich.
As Latin American and Caribbean Managing Director, van Tienhoven will be responsible for Brazil, Mexico, Bahamas, Argentina, Uruguay, Paraguay, Chile, Peru, Bolivia, Venezuela, Ecuador, Colombia, Guyana, Central America and the Caribbean. He will report to Paul Raphael, who leads the global emerging markets business, and takes over from Gabriel Castello, who is now responsible for WM Europe International.
Alexander G van Tienhoven is one of the most senior and experienced wealth management executives in the Latin American market. He had a 27-year career at Citi, where he joins from. In his latest position was CEO for Citi Wealth and Investment Management in Mexico and Latin America. In his role, he was responsible for the Citi Private Bank, Citigold Private Client, Banamex Banca Privada & Patrimonial, Citigold International and International Personal Banking the businesses in the region. He was also responsible for the Asset Management, Brokerage, Retirement, Insurance and Trust businesses.
Mr. van Tienhoven received a B.S.E. from the Wharton School, University of Pennsylvania, in 1987 and attended the Stanford University Business School Executive Program in 1999.
Foto: Geraint Rowland. Toronto, Nueva York, Islas Vírgenes Británicas y Sao Paulo: los mayores centros financieros de Las Américas
According to the Global Financial Centers Index (GFCI) published this week by Z/Yen Group,New York, London, Hong Kong, and Singapore are the four leading global financial centers in the world. All four centers gained points and retain their relative ranks. New York remains the top centre and Tokyo is in fifth place.
Four of the top five North American centers were up in the ratings. San Francisco is slightly down, losing some of the ‘fintech’ gains made in the previous edition. Chicago, Boston, and Toronto all showed small improvements in the ratings.
Caribbean islands are well ahead of Latin American mainlands. The top ‘island’ centers all rose but the Latin American centers of Sao Paulo, Rio de Janeiro, and Mexico City fell.
Western European centers are a mixed bunch. The top five European centers are in the same rank order as in the last report London, Zurich, Geneva, Luxembourg, and Frankfurt. Dublin sees the largest increase in ratings. The Channel Islands regain ground lost and Rome, Madrid, Lisbon, and Reykjavik languish as the Eurozone crisis continues.
Eastern European and Central Asian centers decline. Istanbul, Almaty, Prague and Warsaw all saw their ratings decline. Uncertainty in Ukraine has undoubtedly cast a shadow over this region.
Eleven of the top twelve Asia/Pacific centers see a rise in their ratings and rankings. Busan had the largest rise, followed by Shenzhen and Taipei. The Chinese centers all rose. Dalian, a new addition to the index, entered in 51st place.
Middle East and Africa centers fluctuate. Riyadh, Doha, and Bahrain rose in the ratings while Dubai and Abu Dhabi saw modest declines. Africa is ‘hot’ to perhaps ‘overheated’. Johannesburg moved up six places to 32nd. Casablanca moved up nine places to 42nd.
The index rates 82 financial centers and is sponsored by the Qatar Financial Centre Authority.
Foto: Martin Abegglen. UBS Wealth Americas promociona a Todd Locicero y Ron Meraz a directores regionales
Todd Locicero and Ron Meraz have been promoted to regional directors at UBS Wealth Management Americas, where they previously were complex directors, publishes reuters.
Locicero, who joined UBS from Morgan Stanley in 2010 to run its private wealth business for wealthy individuals in Los Angeles, is relocating to New York City to become Metro regional director. While director of a “complex” in Los Angeles, he increased in a 100% the size of the business. Locicero reported directly to Chandler, eastern U.S. wealth management head, when he first joined UBS.
Meraz, who has been named southwestern regional director, was complex director of Orange County since 2008. He joined UBS from Merrill Lynch Global Wealth Management, where he ran Merrill’s office of diversity and also worked as a broker and complex director.
. Old Mutual Global Investors Adds Emerging Market Debt to Its Skill Set
Old Mutual Global Investors is pleased to announce the appointment of John Peta as Head of Emerging Market Debt. John joined the business on 2 March 2015 and reports to Christine Johnson, Head of Fixed Income.
Old Mutual Global Investors believes that John brings a wealth of industry knowledge and experience to the business. John previously worked at Threadneedle Asset Management, London where he was Fund Manager, Head of Emerging Market Debt since 2012. John started his career in Fixed Income in 1987 at Merrill Lynch, Seattle, before joining Chancellor LGT Asset Management, San Francisco in 1994. John began specialising in managing dedicated emerging market (external and local) debt assets when he joined Standish Mellon Asset Management, Boston in 1997, moving to Acadian Asset Management, Boston in 2007 to assist in the launch of an emerging market local currency debt product.
John will initially manage the US$150 million¹ Old Mutual Local Currency Emerging Market Debt Fund with effect from 20 April 2015. The business will review the manager of the US$250 million¹ Old Mutual Emerging Market Debt Fund and may announce any recommended change at a later date. Both funds are sub-funds of the Dublin domiciled Old Mutual Global Investors Series plc and are currently sub-advised by Stone Harbor Investment Partners LP.
Christine Johnson, Head of Fixed Income, comments: “We are delighted that John has joined us as his wealth of fixed income and emerging market debt knowledge will greatly enhance our investment capabilities. We believe that our clients will also benefit from John’s investment skills. Whilst we are looking forward to working with John, we would like to take this opportunity to thank Stone Harbor for their support in managing the Old Mutual Local Currency Emerging Market Debt Fund and for continuing to work with us on our hard currency fund, the Old Mutual Emerging Market Debt fund.”
Old Mutual Global Investors aspires to be a leading, modern asset management business focused on the needs of investors. Significant progress has been made to further the goal of being a top five player in the UK retail market. The business has restructured its global business and now has a strong distribution capability spanning Asia, Europe and Latin America, which currently generates 20% of revenues from outside the UK.
Old Mutual Global Investors is an investment focused business which strives to provide the very best investment talent and performance to clients. The business plans to grow its market share through investing in existing core investment skills and expanding capabilities where they are complementary to the business’s culture and focus.
Julian Ide, CEO of Old Mutual Global Investors, added: “From the outset, we have retained and attracted the best investment talent offering: compelling and reputable investment processes and track records; ‘star’ quality; strong cultural fit within the business and incremental distribution benefits. In addition to enhancing our distribution capability, we have bolstered our Equities team with the appointment Richard Buxton and his team, including Ian Ormiston as European Smaller Companies Fund Manager, launched our Asian Equities capabilities with the appointment of a team of four under the leadership of Josh Crabb and, more recently, announced that Russ Oxley and his team of six will join us during the course of this year to form our Fixed Income Absolute Return team.
“I believe that John’s appointment is further proof that Old Mutual Global Investors is a sought after destination for top investment talent. The addition of his expertise certainly enhances the range of products we can offer to our global client base and we are now seeking to bolster this investment capability by recruiting additional resource.”
Foto: Youtube.com. Paulo Maia designado CEO de HSBC para América Latina
Paulo Maia has been appointed CEO, HSBC Latin America effective July 1, 2015.
An international executive, Mr. Maia joined HSBC in 1993 and has held executive positions in each of the bank’s main business lines: Commercial Banking; Global Banking and Markets; and Retail Banking and Wealth Management. Mr. Maia has worked in Brazil, Great Britain, the United States and Australia. He was appointed Executive Director of HSBC Bank Brazil in 2000 and Deputy Chief Executive Officer in Brazil in 2008. He was most recently Chief Executive Officer of HSBC Bank Australia before his appointment on January 7, 2013 as President and Chief Executive Officer for HSBC Bank Canada based in Vancouver. On August 12, 2013 Mr. Maia was appointed Group General Manager of HSBC Holdings plc. For 11 years prior to joining HSBC, he held positions in corporate finance and corporate banking in New York, Rio de Janeiro and São Paulo.
Sandra Stuart, who joined HSBC in 1980, has been appointed President and Chief Executive Officer, HSBC Bank Canada, succeding Maia.
Ian Headon, responsable de Servicios Técnicos y de Regulación de Depositaría en Northern Trust, dice que la regulación es una maratón, no un sprint. . Los inversores demandan cada vez más productos acordes con la nueva regulación
More than a quarter (28 percent) of fund managers and consultants surveyed at a Northern Trust seminar on regulation said they believed investors in funds are now demanding products fully compliant with new regulations.
“Investment managers launching new products are now seeing an increasing demand from investors for a combination of traditional offshore and fully regulated products,” said Ian Headon, head of Depositary Regulatory and Technical Services at Northern Trust. “This is a gradual, incremental change in investor behavior and will have a significant impact on the evolution of fund managers’ product offerings – regulation is here to stay, but this is a marathon, not a sprint.”
However, whilst the survey demonstrated an increased demand for compliant products, the majority of respondents (65 percent) still believed their investors viewed the Alternative Investment Fund Manager Directive (AIFMD) as primarily a compliance exercise, despite the fact that AIFMD implementation is almost complete.
“The regulatory landscape continues to evolve and as AIFMD implementation nears completion, the industry is faced with a new wave of regulation,” said Robert Angel, head of Regulatory Services for Europe, Middle East and Africa at Northern Trust. “The successful managers will be the ones that break away from the pack and get ahead of the regulatory trends. We provide our clients with regular insights on the latest industry developments and the opportunities that regulation creates, helping to ensure clients can remain ahead of the curve.”
Northern Trust’s Global Fund Services business provides custody, fund administration, investment operations outsourcing, and ETF solutions to investment managers across the globe and across the spectrum of asset classes. Northern Trust offers depositary services in the United Kingdom, The Netherlands, Ireland, Luxembourg and Guernsey.
CC-BY-SA-2.0, FlickrPhoto: Elliott Brown. Deutsche Asset & Wealth Management First German Asset Manager to Be Awarded RQFII Licence
Deutsche Asset & Wealth Management has been granted a Renminbi Qualified Foreign Institutional Investor (RQFII) licence by the China Securities Regulatory Commission, allowing the German asset manager to apply for quota in order to invest in China mainland securities.
The award of the licence follows an agreement reached last year between Germany and China to establish a quota of RMB 80 billion (approx. EUR 11.2 billion) that German-based financial institutions can use to invest in China‘s domestic capital markets.
“Deutsche AWM has been at the forefront of providing international investors with access to China’s domestic capital markets, so we’re pleased to be the first asset manager in Germany to be awarded an RQFII licence. With China’s enormous growth potential this is a very important market for both our active and passive investment management clients,” said James Dilworth, CEO of Deutsche Asset & Wealth Management Investment GmbH.
DeAWM currently has €4.5bn AUM in funds with renminbi exposure, including approximately €2bn in China A shares ETFs. “We have been engaged as an investor in China ever since the market began to open up internationally, which is why Deutsche AWM is one of the world’s leading experts on providing investment solutions for Chinese exposure. Today, we focus on renminbi-denominated or renminbi hedged offshore bond investments. Going forward, and once we have received quota, we want to enable an extended opportunity set, including onshore and offshore bonds. Finally, this is not only about accessing this market – it is about creating added value and potential alpha for our clients,” added Dilworth.
Global alternative asset manager The Carlyle Group has raised $2.5 billion for its first international energy fund, the largest first-time fund in the firm’s history. Carlyle International Energy Partners (CIEP) began raising capital in mid-2013 and has attracted 160 investors. Carlyle now has over $10 billion of capital ready to deploy across its global energy platform.
Carlyle Chairman Daniel A. D’Aniello said, “This has been a remarkable fund raise, the largest first-time fund in our 28-year history. We are grateful for the support of our investors who share our excitement at the current investment opportunities across the international oil and gas sector. The vision and experience of Marcel van Poecke, who leads our international energy team, made this possible. Marcel, alongside Ken Hersh, David Albert, Rahul Culas, Bob Mancini and Matt O’Connor, who led our other energy strategies, form what we believe is the most talented and experienced energy investing platform in the world.”
Mr. van Poecke said, “This fundraising effort reflects the market’s confidence in Carlyle and our ability to create value in the international energy sector. This is one of the best energy investing environments I’ve seen in more than 30 years in the industry. Carlyle’s broad energy platform plus a significant amount of dry powder enables us to leverage current opportunities and market volatility across the global energy markets.”
CIEP seeks investment opportunities in oil and gas outside North America, notably in Europe, Africa, Latin America and Asia. The primary investment focus is on oil and gas exploration and production (E&P), mid- & downstream, refining and marketing (R&M) and oil field services (OFS).
CIEP’s current investments include: Varo Energy, a Swiss-based refining, storage and distribution business operating in Germany and Switzerland; Discover Exploration, an oil and gas exploration company based in the UK that focuses on Africa, Latin America and Asia; and HES International, a European liquids, dry-bulk storage and handling business located in The Netherlands.
The final close of CIEP further expands Carlyle’s global energy offering and brings more than $10 billion of capital to invest across the sector through CIEP (led by Marcel van Poecke), NGP Energy Capital Management (led by Ken Hersh), Carlyle Power Partners (co-headed by Robert Mancini & Matt O’Connor) and Carlyle Energy Mezzanine Opportunities Fund (co-headed by David Albert and Rahul Culas).
The CIEP team consists of 14 investment professionals, all with extensive international oil and gas industry investment and operational expertise. In addition to Marcel van Poecke, it includes Managing Directors Bob Maguire and Joost Dröge, both industry veterans with 55 years’ combined successful energy investing experience, as well as Paddy Spink, Senior Advisor to CIEP, with 35 years’ upstream experience in Africa, Latin America & Europe. The advisory team for CIEP has offices in London and they will continue to benefit from the support of the firm’s global network of 40 offices.
Photo: Droid Gingerbread. Man Group Expands Quant Range with Launch of Man Numeric UCITS Funds
Man Group has expanded its range of quantitative investment vehicles with the launch of two UCITS-compliant equity funds managed by Man Numeric, the Boston-based quantitative manager acquired by Man Group in September 2014.
Domiciled in Dublin, the Man Numeric Market Neutral Alternative fund and the Man Numeric Emerging Markets Equity fund are the first UCITS vehicles to be offered to the European market by the US fund manager, which has $16.7bn of assets under management (as of 31 December 2014).
The Man Numeric Market Neutral Alternative fund offers investors exposure to one of Man Numeric’s core strategies, the Numeric Alternative Market Neutral Strategy , which launched in 2001. The highly liquid strategy aims to provide consistent, low volatility performance uncorrelated to market indices and other quantitative vehicles.
Overseen by Man Numeric’s co-heads of hedge fund strategies Greg Bond and Daniel Taylor, the strategy uses a variety of models to deliver returns, broadly combining its value driven bottom-up stock selection process with a fundamental statistical arbitrage model. Using long and short strategies to express their views, the investment team seeks unique sources of alpha from a universe of more than 9,000 stocks globally, with holding periods ranging from around four weeks to a year.
Portfolio risk is carefully monitored and spread across the range of different investment strategies, with the strategy having delivered consistent performance over the long term with low volatility.
The Man Numeric Emerging Markets Equity fund is based on the Numeric Emerging Markets Core Strategy, which launched in June 2013. Aiming to outperform the MSCI Emerging Markets Index, the strategy is managed with a focus on quantitative, bottom-up stock selection via a systematic and disciplined process.
Attractive stocks are identified using two primary selection criteria – valuation and information flow – with a range of models within these groups identifying pockets of market inefficiency. Portfolio construction and risk management attempt to maximise alpha while minimising exposure to economic risk.
Portfolio managers Ori Ben-Akiva, Greg Bunimovich and Mickael Nouvellon provide oversight by evaluating all trades for data accuracy, as well as news flow and special circumstances.
The Man Numeric Emerging Markets Equity fund has been passported across Europe, while the Man Numeric Market Neutral Alternative fund is currently pending approval in nine countries including Switzerland, Austria and Germany.
Michael Even, President and CEO of Man Numeric said: “We are delighted to launch these UCITS-compliant funds, offering investors in the European market access to two of our core alpha-generating strategies for the first time. These launches have been made possible by becoming part of Man Group, enabling us to leverage the firm’s resources and expertise to reach an investor base we would not otherwise have been able to.”
Man Group acquired Numeric in September 2014, and together with Man AHL this created a diversified, global quantitative investment platform which offers clients a broad product range across alternative and long-only, trend following, technical and fundamental strategies.
Foto: Laurent Ducoin, new head of European equities at Amundi. Amundi Hires Laurent Ducoin as Head of European Equities
French asset management group Amundi has appointed Laurent Ducoin as head of European equities.
Formerly, Ducoin was head of European Equity team and fund manager at Carmignac from 2011 where he was responsible for rebuilding the investment process of the team.
Prior to that, he worked at BlackRock in London from 2004, where he became fund manager and participated to the management of several pan-European and Swiss only-products.
Ducoin began his career in 2000 at Oddo Pinatton Equities where he worked as a sell side financial analyst before holding the same position from 2002 to 2004 at CM-CIC Securities.
Amundi manages over €850bn of assets worldwide as at 31 December 2014 and is located in more than 30 countries.
