UOB Asset Management
UOB Asset Management (UOBAM), a wholly owned subsidiary of UOB, has expanded into Indonesia with the completion of its acquisition of a 75 per cent stake in PT PG Asset Management (PGAM).
UOB did not disclose the transaction price in its announcement yesterday.
PGAM is headquartered in Jakarta with a branch in Surabaya, and has expertise in mutual funds across equity, debt and money market securities. Its products and services are available to retail and institutional investors.
Through this new subsidiary, UOBAM will offer Indonesian investors its investment expertise across various asset classes and in areas like Islamic investments.
UOBAM also said it aims to establish PGAM as a centre to provide in-depth insights into the local market and specialised solutions in Indonesia-focused funds and investment mandates for investors across its network.
With the acquisition, UOBAM has grown its regional network to eight markets in Asia, namely Brunei, China, Indonesia, Japan, Malaysia, Singapore, Taiwan and Thailand.
Credit Suisse Group has made three more senior hires in its impact advisory and finance department in Singapore, Zurich and London, after Mr Daniel Wild joined as global head of environmental, social and governance strategy as announced in April this year.
Dr James Gifford, based in Singapore, has been named head of impact advisory, the Swiss bank announced yesterday. In the newly created role, he advises private wealth clients globally and helps to drive the firm's impact thought leadership as well as impact industry development initiatives. He was previously at UBS, where he was head of impact investing within the wealth management division.
Another addition is Zurich-based Mr Guillaume Bonnel, who is head of sustainable and impact products. He manages the sustainable and impact product-offering suite, and drives associated product education and advisory services. He joined from Lombard Odier, where he was head of impact investing.
Meanwhile, London-based Ms Helen McDonald has taken on the role of UK head of foundations and impact advisory services, also a newly created role. She looks after non-profit institutions in the United Kingdom and advises UK clients on their sustainable and impact investment ambitions. Ms McDonald also joined from UBS where she was most recently head of charities, foundations and social investing.