People Moves
Asset Management Titan Shifts GEM Equities Team To Asia Amid Shakeup
The world's largest investment house has announced a series of changes at the leadership of its emerging markets equities business, shifting to Asia.
BlackRock has
confirmed to this publication that it is melding Asia and global
emerging market groups to great a “truly global GEM platform”. As
part of the change, leadership for GEM strategies is moving to
Asia, highlighting how the centre of economic gravity is seen as
moving to that part of the world.
Emerging market teams will be led by Belinda Boa, as chief
investment officer of emerging markets, fundamental active
equity. The US-listed investment giant said this move will “bring
about greater alignment and an exchange of insight throughout
emerging markets professionals covering Latin America, emerging
Europe and Asia equities”. She remains as head of active
investments for Asia-Pacific, covering active equities, fixed
income and multi-asset.
Andrew Swan, who is head of Asian equities, becomes head of Asian
and global emerging markets equities, with Gordon Fraser, a
portfolio manager in the global emerging market equity team,
relocating to Hong Kong from London to assume portfolio
management responsibilities alongside Swan for the Global
Emerging markets Core portfolio. Both Swan and Boa remain based
in Hong Kong.
The changes happen at a time, BlackRock said, to reflect the
importance of the APAC region to emerging markets strategies.
Asia ex-Japan now comprises 70 per cent of the MSCI Emerging
Markets Index, and this could increase to 80 per cent over the
next five to 10 years if the Chinese A-share market sees full
inclusion, it said.
“We are expanding local research capabilities, including Hong
Kong-based head of research for the GEM team, to support our
Asian equities and emerging markets franchises and benefit our
global platform,” the fund manager said.
It has also appointed Doug Chow to become global head of active
equities integration and data, based in Hong Kong.
At the end of December last year, BlackRock had a total of $5.1
trillion of assets under management.
