People moves: new Asia-Pacific chief for Goldman Sachs

Also: Reid Marsh moves at Barclays; Citi’s new Apac capital markets origination head; and others


Goldman Sachs has appointed Kenneth Hitchner as chairman and chief executive for Asia-Pacific ex-Japan, based in Hong Kong. He replaces Mark Schwartz, who retired late last year. 

Hitchner also serves as a member of the bank’s management committee and co-chairs the Asia-Pacific management committee. He previously served as president of Goldman Sachs in Asia-Pacific ex-Japan from 2013 until 2017. Prior to relocating to Hong Kong, he was global head of the healthcare banking group and global co-head of the technology, media and telecom group for the bank.

Barclays has appointed Reid Marsh as head of banking for Europe, Middle East and Asia-Pacific. Marsh was formerly co-head of Barclays Asia-Pacific alongside Jaideep Khanna, who is now the sole head of the region. In his new role, Marsh will divide his time between London and Hong Kong and report to president of Barclays International, Tim Throsby. 

Marsh will chair the Europe and Middle East banking operating committee with members reporting to him as well as their existing global business heads. Head of UK investment banking and corporate broking, Alisdair Gayne, and head of banking coverage for continental Europe, Carlo Calabria, will report directly to Marsh. Marsh will continue to chair the Asia-Pacific banking operating committee and remain a member of the regional executive committee.

Citi has appointed Ashu Khullar as head of capital markets origination in Asia-Pacific. Khullar is based in Hong Kong and reports to global head of capital markets origination, Tyler Dickson, and head of markets and securities services for Asia-Pacific, Patrick Dewilde.  

Khullar began his career with Citi in India and has been with Citi in London since 1996 in capital markets, client coverage and corporate banking roles in Europe, Middle East and Africa, most recently as co-head of Emea corporate banking. He replaces Kenneth Poon, who has left banking. 

The Hong Kong Monetary Authority has made a number of changes to its management. The regulator’s chief manager of direct investment, Kenny Lam, has left and been replaced by Samson Wong, who was previously chief manager of real estate direct investment at the HKMA. In addition Albert Goh has joined the HKMA as head of the external managers division in the reserves management department following his departure from Goldman Sachs last year. 

Photo of Raghu Hariharan
Hariharan: new CFO role

Prudential Corporation Asia has appointed Raghu Hariharan as the new chief financial officer. He replaces Adrian O’Connor, who is leaving the company.

Hariharan has been group director of strategy and capital markets at Prudential plc and a member of the group executive committee. In his new role, he will have responsibility for finance, actuarial, capital markets, strategy and investor relations across the region. Before Prudential, he was a managing director at Citi, in charge of equity research for the global insurance sector. 

HSBC has appointed Philip Kunz as head of global private banking for South-east Asia, based in Singapore. He reports locally to HSBC Singapore’s chief executive Tony Cripps, and functionally to regional head of global private banking for Asia-Pacific, Siew Meng Tan. 

Kunz joins the bank from UBS where he held a number of senior wealth management and private banking roles, most recently as chief operating officer for wealth management in the Singapore office. 

Nomura has hired Hong Kong banker Perry Tsea to lead its Greater China financial institutions group. Tsea was previously head of the Greater China financial institutions group at Deutsche Bank in Hong Kong. In his new role Tsea will work with teams in China, Hong Kong and Taiwan to develop Nomura’s financial institution group business. Tsea previously worked at Merrill Lynch and UBS in Hong Kong. 

Photo of David Carbon
Carbon: retiring from DBS Bank

DBS Bank has named Taimur Baig as its chief economist and managing director for group research. He takes over from David Carbon, who is retiring. Baig will report to Timothy Wong, head of group research at DBS.

Baig has covered the Asia region for two decades with stints in Singapore and Washington, DC spanning central and commercial banks, and the International Monetary Fund.

Baig was previously at the Monetary Authority of Singapore as the principal economist in its economic policy group. Prior to this, he was chief economist at Deutsche Bank’s Singapore office.

Westpac has hired Frances Cheung as head of macro strategy in Asia. In this newly created position, she will be responsible for Asian rates, foreign exchange and macro financial markets strategy. 

Cheung previously served as head of rates strategy for Asia ex-Japan at Societe Generale. Prior to that, she was head of Asian rates strategy at Crédit Agricole.

Based in Singapore, she reports to Sneha Sanghvi, head of financial markets for Asia, and David Goodman, Sydney-based head of macro strategy.

Bank Negara Malaysia has named Ahmad Hizzad Baharuddin as assistant governor responsible for the following departments: investment operations and financial markets, foreign exchange administration, legal, and currency management and operations. He will also co-chair the central bank’s financial markets committee.  

Baharuddin resumes his duties at Bank Negara following the end of his six-year secondment to the Labuan Financial Services Authority as the director-general. 

State Bank of India has named Rajnish Kumar as the bank’s chairman for a three-year term. Kumar, who held roles as the managing director and chief executive of SBI Capital Markets, begins his tenure on October 7. Kumar replaces Arundhati Bhattacharya, whose term ends on October 6. 

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