SWFI First Read, January 11, 2017
Image Credit: CSPAN
U.S. President Barack Obama gives his farewell speech in Chicago at McCormick Place.
Vontobel Asset Management Hires Suzanna Wong for Int. Sales for Asia
Vontobel Asset Management hired Suzanna Wong as head of intermediary sales for Asia. Wong was Regional Head for Asia-Pacifc at Banque SYZ, a Swiss private bank, since 2014. Banque SYZ is closing its asset management unit in Hong Kong, after a decade-long attempt to grow assets.
In-Q-Tel Participates in Series B Round in Phantom
Palo Alto-based Phantom, a security automation and orchestration platform, raised US$ 13.5 million in a Series B round. Venture capital firm Kleiner Perkins Caufield & Byers led the Series B round. Investors joining this round include TechOperators Venture Capital, the Blackstone Group, Foundation Capital, In-Q-Tel, Rein Capital, Zach Nelson, and John W. Thompson. John W. Thompson is the former Chairman of Microsoft Corporation and Symantec. Zach Nelson is the CEO of San Mateo-based NetSuite, Inc. In April 2015, Phantom raised US$ 2.7 million in a seed round.
Bryan Weeks Returns to Russell Investments
Bryan Weeks returned to Russell Investments after being Chief Executive Officer of Seattle-based Silver Creek Capital Management. Weeks will be Head of Americas Institutional Business at Russell Investments. He replaces Greg Gilbert who is leaving Russell Investments. Bryan Weeks had joined Silver Creek Capital Management in 2005.
Hawaii State Pension System Faces Solvency Issues
Residents of Hawaii, on average, live 81.3 years, among the longest lifetimes in the United States, beating out California. The Employees’ Retirement System (ERS) of the State of Hawaii has an actuarial funding ratio (based on smoothed asset value) of 54.7% for 2016, under new assumptions from Gabriel Roeder Smith & Company, the state’s independent actuarial consultant. The old 2016 assumptions were 61.2%. The actuary has determined it would take 66 years to make the pension system solvent.
ICD Invests in Swiss Banking Phone App
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