Foxconn chairman Terry Gou plans to step down

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Even as Gou plans to resign as chairman, he hopes to remain involved in strategic decisions regarding Foxconn’s business.

People Digest: State Street names global biz head; Eastspring Malaysia unit appoints CEO

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State Street has hired former Citigroup Asia CEO to head its international business.


Malaysia: Cradle Seed Ventures’ Dzuleira joins MaGIC as CEO

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Cradle Fund’s current chief investment officer Juliana Jan will be the acting CEO for CSV.


Abraaj founder Naqvi, managing partner arrested on fraud charges

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Naqvi was arrested in the United Kingdom last Friday, while managing partner Mustafa Abdel-Wadood was arrested at a New York hotel on Thursday.


People Digest: Ostrum beefs up HK team; StanChart loses exec in SG

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Lena Ho, a managing director at Standard Chartered Bank, has left the lender’s private banking division in Singapore.


How Hyflux founder Olivia Lum’s business empire came undone

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Saddled with S$2.8 billion ($2.1 billion) of unsecured claims and default notices, Hyflux is teetering on the brink of insolvency.


People Digest: Aberdeen Standard adds to APAC team; FinEX Asia names CEO

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Aberdeen Standard Investments has hired Ben Sheehan for the newly-created position of senior equity investment specialist for Asia Pacific.


Culture clash with new owner Citic triggers top-level exits at CLSA

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At least four most senior managers are following CEO Jonathan Slone out the door amid mounting tension with Citic Securities Co., which bought CLSA in 2013.


China’s JD.com said to target job cuts to stem losses

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JD’s latest move mirrors internal overhauls by Tencent Holdings Ltd. and Didi Chuxing, which’re coming off their once-breakneck pace of growth.


Bain & Co appoints new managing partners for SE Asia, Australia

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Bain has named Jean-Pierre Felenbok as its managing partner for Southeast Asia. He will succeed Satish Shankar, who was promoted to managing partner for Asia Pacific in March.