People Digest: HSBC Thailand makes senior hire; S Korea’s KIC appoints new CIO

HSBC has made a senior appointment in Thailand while South Korea’s sovereign wealth fund KIC has named a new chief investment officer (CIO).

HSBC Thailand names head of ISB

HSBC Thailand has appointed Alexander Malloch as head of international subsidiary banking  (ISB) in Thailand, according to an announcement.

In his new role, Malloch’s will help HSBC provide greater banking coverage to international large corporates and mid-market enterprises looking to expand in Thailand.

Malloch is relocating from Hong Kong, having also worked in Australia and the UK. He will report locally to Krisda Phatcharoen, Head of Commercial Banking in Thailand and regionally to Himanshu Sanwalka, Head of ISB for International Countries in Asia-Pacific.

“Alex and his team will help international corporates and their subsidiaries grow in the country as Thailand is undergoing its 4.0 economic transformation. Whether it’s greenfield or brownfield investment, HSBC is well-equipped to support the development and expansion of international businesses in Thailand and in ASEAN,” said Himanshu Sanwalka.

South Korea’s KIC appoints new CIO

South Korea’s sovereign wealth fund Korea Investment Corporation (KIC) has appointed Dae-yang Park as its new chief investment officer (CIO), Asia Asset Management reported.

Park, currently CIO of The Korea Teachers Pension (KTP), succeeds Shinwoo Kang, whose three-year term as KIC’s CIO ended on June 12.

Park is expected to join the wealth fund in the middle of July. The timeline suggests he may be leaving KTP earlier than scheduled as he still has six more months to go on his contract at the pension fund, where he has worked since 2017, the portal said.

Before joining the pension fund, Park was CIO of Seoul-based Allianz Life Insurance Co, now known as ABL Life Insurance Co. He has also worked as a fund manager at the London office of Samsung Life Insurance.

KIC managed portfolios with a total net asset value of $131.6 billion as of end-2018.