Unigestion makes major appointment in Asia
Unigestion has made a major hire from ANZ in Asia, becoming the latest Swiss group to mark out expansion in the region that is the engine of global growth.
This week Bill Foo became chairman of Unigestion Asia, in Singapore, having previously worked as vice chairman of ANZ South & South East Asia, and ANZ Bank Singapore’s chief executive officer and general manager since 1999.
He joins the $12.4bn Swiss manager as a growing band of rivals expand activities in Asia.
Reyl & Cie has also linked with Asia-specialists to distribute products in the region and Asia.
In announcing two joint ventures rival UBP has sealed in the region recently, UBP asset management chief executive Richard Wohanka said: “Asia is increasingly the focus of global growth and of global investing”.
Foo has also held senior positions at Schroders International Merchant Bankers, where he was south east Asia head of investment banking and president director of Schroders Indonesia, and Citicorp Investment Bank, where he was director of corporate finance.
At Unigestion Foo will assist Unigestion’s business in Asia, working with Bernard Sabrier, Unigestion group chairman and chief executive of Unigestion Asia, and with Nicholas Hulme, executive director based in Singapore.
Sabrier said: “The rapid and continuing development of Asian financial markets has created real demand and opportunities for managers that can provide highly active strategies suited to institutional and high net worth clients.
“We feel that Unigestion’s 20 years of experience at designing bespoke solutions for institutional clients is invaluable in meeting the needs of Asian investors and, with his years of track record and experience in the region and financial industry, Bill is the ideal person to contribute to our growth in the region.”