SWFI First Read, August 30, 2017
Robeco Stacks Martin Nijkamp as Strategic Hire
Martin Nijkamp was hired on as Head of Strategic Product and Business Development at Robeco. Nijkamp is being tasked to enhance the asset manager’s product range. Nijkamp was last Head of Strategic Business Development and Integrated Client Solutions at NN Investment Partners. Hester Borrie ended up taking the duties of Nijkamp at NN Investment Partners.
Christine Kelleher to Head Investments at National Gallery of Art
Christine Kelleher was hired as Chief of Investments of the National Gallery of Art in Washington, D.C., effective September 5, 2017. She will manage the US$ 875 million museum endowment. Previously, Kelleher was Managing Director at New York-based Avec Capital, a private equity placement firm. Before that role, she was a Senior Investment Officer at the endowment unit at Georgetown University.
SoftBank Participates in Series C Round in Appier
Former in 2012, Taipei-based Appier is an artificial intelligence (AI) company. Appier raised a Series C round of US$ 33 million from investors such as Japan-based SoftBank Group, LINE Corporation, NAVER Corporation, Singapore-based EDBI and Hong Kong-based AMTD Group. Appier’s first product is called the CrossX Programmatic Platform.
Central Bank of Russia Steps in to Save Bank Otkritie
The Central Bank of Russia moved quickly to take control of Bank Otkritie FC, a troubled Russian private bank lender. This central bank seizure occurred after more than 25% of Otkritie’s deposits left the bank over a period of months stemmed from a surprised ratings downgrade. Roughly US$ 7.4 billion worth of deposits in Otkritie exited in June 2017 and July 2017.
Equity shareholders and possibly subordinated debt shareholders of Otkritie could see their share ownership shrink to a maximum of 25% as the central bank takes control of the troubled lender.
PT Intiland Development and GIC Enter JV to Own and Develop Fifty Seven Promenade
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