Fidelity International’s Beijing chief representative, Jackson Lee, has been appointed country head of China. Lee joined Fidelity in 2010 and has worked in China for six years. He will relocate from Beijing to Shanghai to take up his new role.
The move follows the Chinese regulator’s greenlight for Fidelity to launch ‘private securities funds’ through its wholly foreign-owned enterprise (WFOE) within the next six months.
The chief executive of StanChart Hong Kong, May Tan, is to retire after 32 years in the finance industry. She joined StanChart in 2009, becoming Hong Kong chief executive in July 2014.
Her replacement has been named as Mary Huen, who has been serving as the regional head of retail banking for Greater China and North Asia. Her role will be filled by Samir Subberwal, currently head of retail banking in Hong Kong.
Subberwal will be succeeded by Vicky Kong, regional head of wealth management for Greater China and North Asia. Her replacement will be announced in due course.
John Tan, currently chief executive of StanChart Taiwan, will become head of financial markets for Greater China and North Asia, plus Hong Kong.
All appointments are effective from 1 March 2017.
Securities and Exchange Commission
Ahead of president-elect Donald Trump’s inauguration on Friday, the US regulator has reported more departures.
SEC chief of staff Andrew Donohue will step down at the end of January. Named as chief of staff in May 2015, Donohue was a senior adviser to out-going chair Mary Jo White on all policy, management, and regulatory issues. He previously served as the director of the SEC’s Division of Investment Management from May 2006 to November 2010.
General counsel Anne Small will leave the SEC later this month, having been in the role since April 2013. As the agency’s chief legal officer, she has provided counsel on virtually all of the legal and policy issues before the Commission. Prior to joining the SEC, Small served as special assistant to the president and associate counsel to the president.
Nathaniel Stankard, deputy chief of staff for policy, is also leaving the agency. Since being named deputy chief of staff in May 2013, Stankard has served as a senior advisor to White on a broad range of complex legal and policy matters. He joined the Commission in June 2010 as counsel to the director of the Division of Trading and Markets. Previously, he was an executive director at Morgan Stanley and an associate at the law firm of Cleary Gottlieb Steen & Hamilton.
More than a dozen people have announced their resignation over the past two and a half months, including White who confirmed in November that she would step down at the end of the Obama administration.
The SEC did announce one appointment this week. Jennifer Diamantis has been named chief of the Enforcement Division’s Office of Market Intelligence, which is responsible for the collection, analysis, and monitoring of the hundreds of thousands of tips, complaints, and referrals that the SEC receives each year.
Before joining the SEC in September 2016, Diamantis held various positions in the private sector and at federal agencies, where she supervised, investigated, litigated, and managed enforcement actions and oversaw the implementation of complex regulations in the financial space. She replaces Vincente Martinez, who left the SEC last summer.
Legal & General
Legal & General has appointed Chris Knight, managing director of Legal & General Retirement, Retail Customer Division (LGRR). He will start his new role on 1 March 2017. Knight has been with L&G since 2009, most recently as chief financial officer of Legal & General Retirement.
The insurer’s Pension Risk Transfer business has appointed Chris DeMarco as managing director of UK Pension Risk Transfer (PRT) and Costas Yiasoumi as head of Core Business.
DeMarco has moved from Legal & General Investment Management (LGIM) where he was head of Institutional Client Management. He brings with him significant pensions and risk management expertise. Prior to L&G, he held roles in the banking and consulting industries, most recently as a partner at Aon Hewitt.
Yiasoumi joins from Partnership Assurance where he led bulk annuities, with previous senior roles at Swiss Re, JP Morgan and Mercer.
Chief executive of Legal & General Retirement (LGR),Kerrigan Procter, has been named as a group executive director with effect from 9 March 2017.
Procter has been managing director of LGR since January 2013. He was previously head of solutions with LGIM from 2006 to 2012 where he was responsible for Liability Driven Investment and fund solutions for defined benefit and defined contribution pension schemes across Europe and the US.