People moves: AP2 CIO plans departure

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AP2, CEM Benchmarking, Aegon, TransitionZero, ICI, Amundi, T. Rowe Price, JPSB Group

AP2 – The chief investment officer of the Swedish national pension fund AP2, Hans Fahlin, has decided to leave the scheme where he has worked for 11 years.

A spokeswoman for the Gothenburg-based pension fund said Fahlin is leaving at the end of February 2022 because he wants to spend more time with his family. She said AP2 had just started the process of recruiting a new CIO to replace him.

CEM Benchmarking – Rashay Jethalal has joined the cost and performance benchmarking firm as chief executive officer. His mandate is to expand the Toronto-headquartered firm’s reach and impact with global fiduciaries and asset owners including defined benefit (DB) and capital accumulation plans.

Jethalal is a former associate principal with McKinsey & Company, having subsequently moved into other roles in banking and investment. At McKinsey he was part of the pension practice, serving many of the largest Canadian pension funds.

As CEM’s new CEO, Jethalal will be replacing Tom Scheibelhut, who decided to move to a newly-created product innovation role. He led, with the help of the board, the process to recruit Jethalal.

Pension Insurance Corporation (PIC)– Dominic Veney has been promoted to chief financial officer of the £48bn (€57bn) specialist insurer of UK defined benefit pension schemes, subject to regulatory approval. He will succeed Rob Sewell as chief financial officer and a director of PIC when Sewell retires at the end of this year.

Versey joined PIC in April 2018 as chief actuary.

Aegon Asset Management – The asset manager has strengthened its responsible investment team with three new appointments, bringing the team to 17 specialists.

Based in the UK, Andy Woods joins Aegon AM as a responsible investment manager, supporting the equities and multi-asset investment platforms. He previously headed up the Institutional Voting Information Service of the Association of British Insurers.

Joining the company as a responsible investment associate is Curtis Zappala, who will be based in the US and focussed on ESG integration and engagement, supporting Aegon AM’s fixed income investment platform. Prior to joining Aegon AM, Zappala was a member of the sustainability team at United Parcel Service (UPS).

Jamie McAloon also joins as a responsible investment associate, supporting the equities and multi-asset investment platforms. He was previously at Abrdn, where he was a private equity finance analyst.

TransitionZero – Yulanda Ho Yan Chung, currently head of sustainability of institutional banking at DBS Bank, has been appointed onto the board of directors.

The climate analytics firm, which is a founding partner of the Al Gore-backed coalition Climate TRACE, said she was appointed to contribute to their engagement with the finance sector and to help grow their presence in the Asian sustainable investment markets.

Investment Company Institute (ICI) – Yie-Hsin Hung, chief executive officer of New York Life Investment Management, has been elected chair of the ICI, the US-based fund management trade group.

The board of governors sets ICI’s policy agenda and guides its work. As chair, Hung will preside over the board and its executive committee – she is the first woman and person of colour to hold this position, ICI said.

“I am greatly honoured to be elected chair,” said Hung. “Our industry has evolved tremendously in recent years, and this is a pivotal time for us to come together to reinforce the value we provide as new investors begin engaging with financial markets.”

George C. W. Gatch, as immediate past ICI chair, was elected to serve as vice chair of the board of governors for a one-year term. Gatch is CEO of JP Morgan Asset Management.

Hung’s election came shortly before the ICI board of governors unanimously approved a statement on financing the transition to net-zero, identifying specific actions the industry can take to facilitate the economic transition to net zero emissions and meet investors’ objectives.

Amundi – Eric Bramoullé has been named head of marketing and products at Amundi. He also becomes a member of the firm’s executive committee. Albert Tse succeeds Bramoullé as CEO of Amundi South Asia. Additionally, Gilles Cutaya has been appointed deputy head of Amundi marketing and products.

These appointments take effect from 1 November.

Bramoullé has been with the group for 22 years and has occupied several roles at Amundi. He was most recently CEO of Amundi South Asia after holding the positions of CEO at Amundi Austria from 2015 to 2018 and at Amundi Poland from 2013 to 2015. Prior to this, he was head of retail networks equity management from 2010 to 2013 and deputy head of equity fund management from 2007 to 2010 at Société Générale Asset Management.

Tse was most recently head of distribution sales and marketing for Amundi in South Asia since 2019. Prior to joining Amundi, he was with Schroders, where he was head of the intermediary business of Southeast Asia and head of Malaysia and Thailand businesses.

Cutaya was head of marketing and communication since 2015 and deputy CEO of CPR since 2019. Before that he held several positions from 2007 to 2015 at Lyxor Asset Management from global head of client relations and services to head of marketing and strategy after being product engineer at AXA Investment Managers from 2004 to 2007.

T. Rowe Price Group – Theresa McLaughlin will join the firm on 25 October as head of global marketing.

Most recently McLaughlin served as global chief marketing officer for State Street Corporation. Previously, McLaughlin was global chief marketing, customer experience, and corporate citizenship officer for TD Bank Group and chief marketing officer at Citizens Financial Group.

JPSB Group – Daron Pearce, former CEO of BNY Mellon Asset Servicing, EMEA, has joined JPSB, a technology consultancy to the investment management community.JPSB works to enable investment firms to adapt, evolve and grow through the design and delivery of innovative IT solutions and to unlock the potential of their existing technology.