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SWFI – Movers and Shakers – March 1, 2017



Wilbur Ross Named 39th United States Secretary of Commerce

Wilbur Louis Ross Jr. was sworn in as the 39th United States Secretary of Commerce. By a vote in the U.S. Senate of 72-to-27, Ross was confirmed. Ross had extensive experience in bankruptcy-restructurings working at Rothschild Investments and eventually forming WL Ross & Co.

MarketAxess Grows, Names Head of Europe and Asia

Electronic trading venue MarketAxess Holdings Inc. hired Christophe Roupie as head of Europe and Asia. This is a new position and he will report to MarketAxess CEO Richard M. McVey. Before this role, he was at a Swiss family office and was Global Head of Trading and Securities Financing at AXA Investment Managers.

BNY Mellon Hires JPMorgan Veteran to Lead Financial Institutions Group in Japan

Yoshiyuki Shimoyama is joining BNY Mellon Investment Management to become the new head of financial institutions group, Japan. He will be based in Tokyo and report to Shogo Yamaguchi, Chairman and President of BNY Mellon Investment Management, Japan, and Lindsay Wright, Head of Distribution and co-Head of BNY Mellon Investment Management, Asia Pacific. Shimoyama replaces Atsushi Horiike.

Before joining BNY Mellon, Shimoyama was at J.P. Morgan Asset Management Japan, starting back in 1990 when he joined the firm Morgan Guaranty Trust Company of New York.

ADIA Recruited Former SSgA EMEA Trading Head

Dale Brooksbank, the former Head of European Trading at State Street Global Advisors (SSgA), joined the Abu Dhabi Investment Authority (ADIA) back in October 2016. He left SSgA in July 2016. Dale Brooksbank is ADIA’s head of equities trading, working in the central dealing department. Before SSgA, Brooksbank had previously worked at Legal & General Investment Management in equities and derivatives trading.

Former KIC Executive Moved to Amundi

Andrew Duyoung Kim, the former Head of Fixed Income Investments at the Korea Investment Corporation (KIC), joined NH-Amundi Asset Management in February 2017 as head of overseas fixed income investments. Kim had been at the KIC since 2006. Before the KIC, Kim was a Portfolio Manager at Samsung Asset Management.

Johns Hopkins University Appoints New Chief Investment Officer

Johns Hopkins University named Jason T. Perlioni as its new vice president for investments and chief investment officer.

Mubadala Invests in No Fly Zone Drone Radar Company



Data Collective led a US$ 15 million Series A round into Salt Lake City-based Fortem Technologies, Inc., a company that works on solutions that can detect, identify and classify drones in real time to maintain airspace safety. Other investors in the round include Boeing, Mubadala Investment Company, Manifest Growth, New Ground Ventures and Signia Venture Partners.

Ibrahim Ajami, Head of Mubadala Ventures said in the press release, ” Mubadala is excited to work with Fortem and its outstanding leadership team to help grow its business to new markets.”

Ajami added, “We strongly believe the TrueView radar is essential to maintain a safe airspace for both the aircraft and the critical infrastructure on the ground.”

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Ireland and China to Open New €150 Milllion Joint Tech Fund



The Ireland Strategic Investment Fund (ISIF) and CIC Capital Corporation – a sovereign wealth enterprise (SWE) of the China Investment Corporation – announced the formation of a joint €150 million fund targeting high-growth Irish technology firms looking to expand into Chinese markets, as well as a special emphasis on Chinese companies hoping to set up shop in Ireland as a base for their European operations.

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How ESG Considerations Can Drive Voting at the Board Level



The Council of Institutional Investor’s spring conference for 2018 – held this week in Washington D.C. at the Omni Shoreham Hotel – was packed with member-hosted panels, where nearly 400 of the top investment professional, regulators, and corporate governance experts gathered together to share their insights and engage in forward-looking discussions on how to drive a multi-stakeholder approach to responsible investment over the long-term.

Sovereign Wealth Fund Institute (SWFI) had the opportunity to attend several breakout sessions, including one presented by Maryland-based Institutional Shareholder Services that sought to address one of the most pressing challenges facing institutional investors today: How can environmental, social, and governance (ESG) criteria help drive voting at the board level? Moderated by Georgina Marshall, Head of Global Research at ISS, panelists provided a diverse array of perspectives on how to harness ESG considerations as an effective decision-making tool.

Player-Coach Model

For Bonnie Saynay, Global Head of Responsible Investments at Invesco, fostering an environment conducive to communication with investment teams using a “player-coach” model is critical. Moreover, Saynay warned investors of thinking too broadly on ESG considerations, and to instead focus in on the criteria that is most important to them as an organization, and to then tailor their stewardship practices to match those priorities: “If everything is important, nothing is important,” she said.

Clare Payne, head of corporate governance for North America at Legal & General Investment Management, highlighted the importance of procuring the latest ranking data from a number of different providers, as well as how to develop one’s own internal system for scoring so as to cut through the clutter and provide a contextualized framework for making investment decisions on your own terms.

Remuneration is the name of the game for Robbie Miles, Vice President and ESG analyst at Allianz Global Investors. Amid the ever broadening scope of influence that responsible investment commands, Miles urged attendees to work with their managers on mandates that link compensation to the long-term performance of the fund, as well as long-term holding periods.

Wrapping up the panel was Stu Dalheim, Vice President of Shareholder Advocacy at Calvert Research Management, advocated for diversity at the board level across a number of different metrics – including ethnicity, gender, and professional backgrounds – in order to reflect the reality of their client base, as well as provide an apparatus for robust debate and adaptation in an ever-changing business environment.

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