IFR Asia – June 30, 2018

infrastructure projects.

The two development banks will focus their

efforts on sustainable infrastructure projects, in

particular, the AIIB said in a statement.

The MoU will also strengthen cooperation

between the two organisations through

knowledge sharing, temporary assignments,

secondments and training.

Launched in 2016, the China-led AIIB has been

viewed by many as a rival to the Western-

dominated World Bank and Asian Development

Bank. The AIIB has signed MoUs with both

organisations, however.

ANZ

Share buyback doubled

AUSTRALIA AND NEW ZEALAND BANKING GROUP

is increasing its on-market share buyback

programme by a further A$1.5bn (US$1.1bn) to a

total of A$3bn.

ANZ said last month it would increase the

programme once it finalised reinsurance

arrangements with Zurich Insurance Group,

receiving about A$1bn as proceeds.

Australia’s biggest banks are selling non-core

assets as they face regulatory pressure to boost

capital. They are also seeking to get back to

basics after a series of governance scandals.

“The progress of our transformation means

we are able to return this surplus capital to

shareholders,” chief financial officer Michelle

Jablko said in a statement on June 22.

People

&Markets

WHO’S MOVING WHERE...

„ ABN AMRO has announced two senior

appointments in its Asia Pacific trade and

commodity finance business.

Eugene Ganchev has been appointed head of

APAC TCF, while Gregory Vandeler has been

appointed APAC head of agri-commodities and

TCF coverage.

„ Both will be based in Singapore. STATE STREET

GLOBAL ADVISORS , the asset management arm of

State Street, has appointed Marcus Miholich as

head of capital markets for Europe, the Middle

East and Africa and Asia Pacific, effective

immediately.

He replaces Paul Young , who has left the firm.

Miholich will stay in London and report to Tim

Coyne, global head of capital markets for the

global SPDR business, a group of exchange-

traded funds managed by SSGA.

Miholich joined SSGA in October last year

from Haitong Securities and was most recently

responsible for SSGA’s ETF Nordic business

development strategy. He was head of Delta

One, ETF and cash equity trading at Haitong

and has also worked at Bank of America Merrill

Lynch, JP Morgan and Morgan Stanley.

„ Andrew Hagan , NEW ZEALAND DEBT MANAGEMENT

OFFICE ’s head of risk policy, and currently acting

director for infrastructure and housing, will

become acting head of NZDMO from August 13.

In the interim, Charles England , NZDMO’s head

of accounting and transactional services, will be

acting head of NZDMO.

These arrangements follow the announcement

on May 31 that the head of the office, Sarah

Vrede, would leave the Treasury on June 29 to

take up company directorships and consulting

roles. Vrede became NZDMO head in 2014.

„ HONG KONG EXCHANGES AND CLEARING has

appointed six new members to its listing

committee, effective immediately.

The new members are Vincent Gao , partner at

Hillhouse Capital; Richard Pu , deputy general

counsel at Tencent Holdings; John Wong , Greater

China chairman at the Boston Consulting Group;

Matthew Emsley , partner at Herbert Smith

Freehills; Charles Nixon , group general counsel

of Hutchison China MediTech; and Alex Wong ,

managing director of Boyu Capital Advisory.

The listing committee is tasked with approving

listing applications for both the Main Board

and Growth Enterprise Market as well as

advising the exchange on policy and approving

amendments to the Main Board and GEM rules.