People moves: Citi promotes Bacon to Apac investments head

Citi Private Bank has appointed Roger Bacon as the head of investments for Asia-Pacific. Bacon replaces So-Yon Sohn in the role as she moves to New York to take up a senior markets position with the bank.

Bacon reports to global head of investments, Eduardo Martinez Campos and Bassam Salem, Asia Pacific CEO of Citi Private Bank.

He previously served as the head of managed investments and advisory for Asia-Pacific.

Before he joined Citi, Bacon spent time with Union Bancaire Privée in London as head of the hedge fund business. He has also worked at the Rothschild Family Office, JP Morgan Fleming Asset Management, Jardine Fleming Investment Management and Fleming Investment Management in London, Hong Kong and Luxembourg.

Adam Proctor has taken the role of head of managed investments and advisory for Asia-Pacific, reporting to Bacon, and will relocate to Singapore later this year. Proctor will also report to global head of managed investments, David Bailin.

Most recently Proctor has held the role of global market manager of the global client programme and a senior private banker in London. He joined the private bank in 2008. Before joining Citi he was a private banker at Barclays in London.

Natixis has hired Kenneth Lee as head of Asia-Pacific debt capital markets syndicate. Lee reports to Bruno Le Saint, head of global finance and Asia-Pacific co-head of investment banking, and Viet-Linh Ha Thuc, Asia-Pacific head of fixed income and commodities.

Prior to joining Natixis, Lee co-founded Asian credit-focused fund, Ark One Limited, in 2013, which was bought by a Hong Kong listed company last year. He also spent 10 years at Barclays Capital Asia in Hong Kong and Singapore, as head of Asia-Pacific debt syndicate.

Shawn Yin has joined HSBC Private Bank as an investment counsellor in Hong Kong. He reports to Jackie Mau, head of investment counselling, Asia for HSBC Private Bank.

Yin was previously head of portfolio solutions at Credit Suisse Private Bank in Hong Kong. Prior to that he was an investment specialist at UBS Wealth Management.

JP Morgan has raided Goldman Sachs, hiring three of its bankers to cover Australia and New Zealand. Andrew Tanner and Steve Maartensz will join JP Morgan as co-heads of equity distribution, Australia and New Zealand. Dyson Bowditch will join as head of syndicate for Australia and New Zealand. All three will start at the bank in July. 

Prior to taking a sabbatical in 2016, Tanner was head of research sales at Goldman Sachs and held positions at the bank in New York and Sydney. Maartensz and Bowditch also held a number of positions at the bank; both were most recently joint co-head of equities distribution for Australia and New Zealand.

Former Barclays Asia-Pacific chief executive officer Andy Jones resigned from the bank in April. Jones, whose most recent position at the British bank was vice-chairman, became regional CEO in 2014 after two years as chief operating officer in Asia-Pacific.

Jaideep Khanna and Reid Marsh have been appointed co-heads of Barclays in Asia-Pacific. Jones will support and advise Khanna and Marsh before returning to the UK later this year.

Manulife Asset Management has appointed Shinichi Yamamoto as president and chief executive officer of its Japanese business. In the role Yamamoto reports to Maulife Asia head of wealth and asset management, Michael Dommermuth, and Gavin Robinson, CEO of Manulife Japan.

Yamamoto joins Manulife from Pimco Japan where he held the role of CEO. He replaces Yoshihide Nagata as head of Manulife Asset Management Japan. Nagata remains at Maulife as a board member.

Additionally Manulife has promoted Jason Chong from chief investment officer to CEO of Manulife Asset Management Services Berhad (MAMSB). Chong replaces Wong Boon Choy as CEO. Choy will transition to the role of adviser at the company.

Deutsche Bank’s Asia head of debt sales, Kevin Burke, has left the German bank. Deutsche has seen a number of departures since the start of the year. In January the bank parted ways with Michael Ormaechea the former head of global markets in Asia-Pacific and chief country officer for Australia.

Pieter Tierney has left his position as Apac head of the Depository Trust & Clearing Corporation’s OTC trade reporting initiative to join AxiomSL, which provides regulatory and risk management solutions for financial firms, where he will serve as regional chief executive officer. Before joining DTCC, Tierney was CEO of the Singapore-based DTCC data repository in Asia. He will continue to be based in Singapore and will report to AxiomSL’s global CEO Alexander Tsigutkin.

Geoff Bascand has been appointed head of financial stability and deputy chief executive of the Reserve Bank of New Zealand (RBNZ).

Bascand is currently deputy governor and head of operations, a post he will remain in until September 27. He replaces Grant Spencer, who will take over as acting governor for six months when Graeme Wheeler steps down, before retiring.

Before joining the RBNZ in 2013, Bascand was government statistician and the chief executive of Statistics New Zealand. Earlier in his career he worked for a spell in the New Zealand Treasury, and as a staff economist at the International Monetary Fund.

Bascand is viewed as in the running for the top job. The decision falls to the new government, which will form after elections in the autumn.