Pictet hires from rival Putnam to bolster emerging markets team

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Pictet Asset Management has hired Avo Ora from Putnam Investments to boost its emerging markets team focused on Asia excluding Japan.

Ora will be senior investment manager responsible for Asia ex-Japan portfolios in the emerging markets team, at the £83.3bn institutional asset management business of Swiss private bank Pictet & Cie.

At Putnam he held a similar role of senior vice president responsible for Asia Pacific ex-Japan strategies.

Richard Heelis, PAM’s chief investment officer for equities, said his joining was “a significant reinforcement of our emerging markets expertise to this crucial region”.

Pictet joins other European rivals also bolstering teams behind the developing markets investment theme, which Lipper predicts will be the dominant one, at least for the first part of this year.

France’s Edmond de Rothschild Asset Management recently hired Thomas Gerhardt from DWS Investments, one of five recruits planned for its emerging markets and commodities teams based in Frankfurt.

Elsewhere, ING has boosted its focus on Europe’s emerging markets by hiring Simon Quijano-Evans from Crédit Agricole Group, as head of research and chief economist for emerging Europe, the Middle East and Africa; and Egor Federov from Bank of Moscow, as ING’s senior credit analyst for Russia.

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