People News - Bank of America, Deutsche, JPMorgan, Morgan Stanley, UBS

Goodbye UBS

Bank of America Merrill Lynch has hired several bankers from Deutsche Bank in Hong Kong, including one who will serve as a new equities strategist for Asia Pacific.

The Wall Street Journal reports that Ajay Kapur joins from Deutsche Bank AG, where he was head of Asia equity strategy, and will assume his new role in June.

And the head of Deutsche Bank's Southeast Asia and South Asia financial institutions group, Dhruv Shrikent, will leave on March 31, according to an email seen by Reuters.

Shrikent, who worked at the German firm since 2006, most recently advised AIA on its $1.7bn acquisition of ING's insurance business in Malaysia.

In the meantime, the news agency also reports that JP Morgan Chase has named Greg Guyett and Rob Priestley as its new chief executives for the Greater China and ASEAN regions.

These appointments follow a global restructuring of JP Morgan that began last summer, which saw the firm combine its corporate and investment banking operations into a single unit.

Bloomberg reports that Tsukasa Shimoda, a former fund manager at Morgan Stanley Asset & Investment Trust Management, will start a Japan-focused hedge fund amid increased appetite for the world’s second-largest equity market.

The UMJ Galleyla Fund will start on April 1 with about $11m in initial capital including money from an overseas fund-of-hedge-funds, said Shimoda, who runs the strategy. The long-short equity fund will bet on rising and falling stocks in Japan and will target an annual return of 15% - 25%, he said

Finally, Bloomberg reports that Kenneth Cohen, the head of commercial real estate finance at UBS, is leaving to join Bank of America.

Cohen will become the global head of commercial real estate, based in New York, two people familiar with the move who asked not to be identified because it hasn’t been announced publicly said.

BAML Names New Asia Pacific Equities Strategist

Deutsche's SEA financial institutions banker to leave - email

JP Morgan names Guyett, Priestley as new regional CEOs in Asia

Ex-Morgan Stanley Manager to Start Japan Stocks Hedge Fund

UBS Commercial Mortgage Bond Head Cohen Said to Depart for BofA


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