Fagan joins L&G’s asset management division from Amundi, having spent nearly six years there, most recently as head of global strategic clients, distribution and wealth, where she was responsible for relationships with key global strategic clients, across different geographies and asset classes including Index, ETF and Smart Beta products and solutions.

She will also draw on a wealth of experience gained from ten years at BlackRock, where she led distribution efforts for iShares ETF and Index Investing, and her banking experience having started her career in investment banking in Canada and then subsequently in the UK in Structured Credit CDO/CLO distribution at Barclays Investment Bank. She is a CFA Charterholder.

In her new role, Fagan will be focused on driving forward relationships in the US alongside the existing focus in the UK, Europe and Asia. The hire follows a recent refresh of the distribution team’s structure, with client teams in the US, Asia, continental Europe and the UK aligning geographically. Ashley will be supported in delivering the global financial institutions strategy by Chris Massey, deputy global head of financial institutions.

Fagan will report into Sarah Aitken, chief client officer, working closely with L&G asset management’s existing distribution leaders globally.

Sarah Aitken, chief client officer, L&G Asset Management division said: “I am delighted that Ashley has decided to join us at such an exciting time. Our global asset management business has a key role to play in helping us fulfil our strategy built on sustainable growth, sharper focus and enhanced returns. As we continue to diversify our client coverage and investment capabilities, Ashley brings global expertise and strong relationships; we are very excited to welcome her to the team.”

Fagan’s appointment builds on the recent growth of the asset management client-facing team. Having established offices in key international markets during the past decade and expanded its team of regional experts, these are strong foundations on which to build and position the business for future growth.

Fagan added:“I’m delighted to be joining L&G’s Asset Management team at this pivotal time for the firm. Given its reputation and pedigree across different asset classes, I believe that L&G’s capabilities across public and private markets, and the commitment to investing in opportunities that serve the long-term needs of society, offer a real opportunity for expanding relationships globally with this key segment of the market.”

The five global portfolios will target ‘best-in-class’ passive ESG-rated equities and bonds. Each model’s equity allocation will vary from 100% to 20% and will invest across a range of regional equity funds and/or two fixed income funds.

The equity element will invest in the Amundi SRI PAB equity funds, which track MSCI SRI Filtered PAB regional indices. These focus on the top 25% ESG-rated companies relative to their sector peers and have a wide range of systematic environmental- and social-based exclusions – for example, they exclude companies generating revenue from thermal coal mining or oil and gas extraction.

These indices also align with the EU Paris-Aligned Benchmark (PAB) regulation minimum requirements, including: a reduction in carbon intensity by 50%, compared to the underlying investment universe; and a reduction in carbon intensity by 7% on an annualised basis.

Meanwhile, the SRI fixed income element invests in two bond funds managed by Northern Trust Asset Management, which track Solactive Global Bond ESG Climate indices. These are focused on a global investment grade bond universe that is screened for ESG scores and carbon emissions, including targeting a 50% reduction in corporate bond carbon intensity compared to the parent index. EBI added risk in the SRI bond element is reduced by blending the two fixed income funds to target a shorter duration than the wider market.

See also: Pacific, Albemarle and Hymans Robertson model portfolios added to Parmenion platform

Jonathan Griffiths (pictured), investment product manager at EBI, said: “We know investors seek to invest in line with their values, while also seeking competitively priced investment solutions. With the launch of the SRI portfolios, we are in the sweet spot where these two elements align. Providing enhanced ESG screening, and market-leading equity exposure aligned with the EU Paris-Aligned Benchmark minimum requirements, these portfolios are an exciting addition to our product suite and the wider MPS space.”

Ashkan Daghestani, head of ETF, indexing, and smart beta sales for UK & Ireland at Amundi, added: “We are pleased to be selected by EBI, which will enable more and more UK investors to have access to our low-cost SRI index-based solutions. This partnership demonstrates our commitment to meeting the needs of UK investors, in particular for ESG index solutions at competitive pricing.”

EBI is part of Bristol-based platform Parmenion and has £2.5bn in assets under management. It runs a range of passively managed investment products including a Core ESG and Earth range for sustainable investors, and factor-based global portfolios, the World range, and Core, for market-based global exposure.

This article was written for our sister title ESG Clarity

Harpreet Bindra has been named as chief executive of HSBC Life (Singapore).

He will succeed Ho Lee Yen, who has decided to spend more time with her family, having successfully completed the integration of the businesses of AXA Singapore and HSBC Insurance.

Bindra joined HSBC in 2018.

Ocorian

The financial services provider has appointed Chantal Free as chief executive.

Free joins Ocorian from Capita, where she was chief executive of its portfolio division.

Sesame Bankhall Group (SBG)

The group has appointed Richard Harrison as chief executive.

He will join SBG from Wesleyan Assurance Society, where he is currently chief distribution officer.

Harrison joins SBG on 2 January 2024, at which point current interim chief executive John Cowan will resume his role as chair of the SBG board.

Swiss Financial Market Supervisory Authority (Finma)

Urban Angehrn will step down at the end of September 2023 as chief executive.

It has appointed deputy chief executive Birgit Rutishauser as chief executive ad interim with effect from 1 October 2023.

Angehrn will be at her disposal to ensure an orderly handover of all business and for follow-up to the takeover of Credit Suisse by UBS.

The board of directors has begun the process of filling the position of Finma chief executive.

Amundi

The asset manager has named Pierre Jond as chief executive of Amundi Luxembourg and chairman of Fund Channel, the B2B fund distribution platform jointly owned by Amundi and Caceis.

Before joining Amundi, Jond was head of France and Belgium region with BNP Paribas Securities Services.

Jond replaces Jeanne Duvoux, who has been appointed head of business support and operations for Amundi Group.

Fairstone Group

Peter Donaldson has been named as managing director of the firm’s partnership channel.

He moves from his current role as a Fairstone divisional director. Donaldson joined the business in 2021.

St James’s Place (SJP)

Joe Wiggins has been named as director of investment research for the wealth manager.

He will join SJP on 12 September and previously worked as chief investment officer at Fundhouse.

Seven Investment Management (7IM)

The wealth manager has appointed Agustin Fernandez as managing director for corporate and strategy development.

He joins from HSBC, where he was head of Emea wealth and asset management wealth tech within the investment banking division for four years. Fernandez joined HSBC in 2011.

Professional Wealth Management

The IWP-owned firm has hired Alex Tait and Will Welch as financial advisers.

The duo were previously professional rugby players for Newcastle Falcons.

Ascot Lloyd

The IFA group has appointed Jaco Cebula as group technology officer.

For the past 18 months, Cebula has worked closely with the Ascot Lloyd team in his role as a technology consultant for Sionic, a global consulting firm.

The Monetary Authority of Singapore (MAS)

The Singapore regulator has appointed Chia Der Jiun as managing director.

Chia takes over from Ravi Menon, who will retire from the Singapore Public Service and step down as managing director.

He is currently Permanent Secretary (Development) at the Ministry of Manpower (MOM), had previously spent 18 years at MAS, where he played a leadership role across MAS’ major functions, including monetary policy implementation, reserve management, banking supervision, prudential policy, and macroeconomic surveillance.

Nedgroup Investments

The global asset manager has expanded its international distribution team with the hiring of Rachel Ferguson as client solutions lead, effective September.

Prior to joining Nedgroup, Ferguson worked as a business development manager at Aegon Asset Management (formally Kames Capital) and was with the firm for a total of seven years.

Rothschild & Co

The financial services giant has hired Alfredo Pérez de Quesada Garrido as a senior client adviser in Spain.

He has over 18 years’ experience in the financial industry and joins from Credit Suisse (Madrid).

Also, Rothschild & Co has hired five client advisers in its wealth management business in Zurich, to focus mainly on clients from Central and Eastern Europe. The new team joins from Credit Suisse.

The team is headed by Gerold Reiser, who has over 18 years’ experience as a private banker.

Alongside Reiser, the four other client advisers joining Rothschild & Co are Maciej Wiackowski, Magdalena Majewska Koch, Viktors Bolbats and Lars Lang.

Square Mile

The research and consulting firm has appointed Maria Mealing as a business development director.

Mealing has over 30 years’ industry experience, most recently as associate director at Janus Henderson.

Walker Crips Financial Planning

Matthew Crawshaw and Kaz Dev have joined the firm as regional director for the Midlands and assistant director in the south west region, respectively.

Crawshaw joins from Abrdn, where he was regional director for the north and midlands.

Dev joins from Francis Clark Financial Planning, where he served as head of professional services and chartered financial planner.

Third Financial

The investment platform has named David Lewis as chairman of its regulated entity Third Platform Services.

Most recently, he was managing director at BNY Mellon in London.

The funds, which are developed in partnership with Amundi, comprise a series of Securities and Futures Commission-authorised, multi-asset funds. They are constructed to offer sustainable risk-adjusted returns, capitalising on near-term market or economic conditions, which will be reviewed and rebalanced regularly.

Retail investors will have access to four globally diversified multi-asset fund of funds and ETFs portfolios. They are the Signature CIO Income Fund, the Signature CIO Conservative Fund, the Signature CIO Balanced Fund and the Signature CIO Growth Fund.

“The Signature CIO Funds synergise the strength of Standard Chartered and our strategic partner in developing relevant investment solutions for our clients. It is encouraging to see investment sentiment gradually improve since Mainland China’s boundary reopening, this is reflected in the marked increase in fund transaction volumes compared to the last quarter,” said Alson Ho, head of wealth management for Hong Kong at Standard Chartered.

“We are glad to partner with Standard Chartered to contribute Amundi’s global asset management expertise to the funds, catering to investment needs of Hong Kong investors. The Signature CIO Funds join best of both worlds to offer retail clients with the ability to access a diverse set of asset classes and investment strategies,” said Kerry Ching, chief executive of Amundi Hong Kong.

For more insight on asset and wealth management in Asia, please click on www.fundselectorasia.com

The partnership will see Endowus offer its customers the investment strategies of Bridgewater Associates, a US-based portfolio manager.

The move will expand the wealth manager’s alternatives proposition to accredited investors in Hong Kong and Singapore.

Endowus and Amundi already have a partnership in place for active and passive investments.

Amundi Alternatives was established in January 2022 following the acquisition of Lyxor Asset Management.

“Creating opportunities for our clients to access institutional-quality, industry-leading investment solutions to help them reach their wealth goals has been our core mission since day one,” said Samuel Rhee, chairman and chief investment officer of Endowus.

“We are excited to work with our partners, Amundi and Bridgewater, to provide our clients the opportunity to invest into Bridgewater’s time-tested investment solutions. These offerings will now be part of our broadening suite of private market and alternative investments on the Endowus platform, which allows individual investors to implement their diverse asset allocation needs all seamlessly on a single Endowus app.” ‍‍

Albert Tse, Amundi’s south Asia chief executive, added: “Through Amundi Alternatives, we have continually been enriching the offerings for our clients, who are actively seeking good and effective opportunities to invest in alternative assets. We have a longstanding relationship with Endowus in designing and offering industry-leading funds through the platform – for instance the launch of Amundi’s low-cost passive index series last year. We are delighted to be partnering with them to onboard the Bridgewater strategies funds to its platform and meet its clients’ growing and sophisticated needs.”