Standard Chartered has hired a former executive from J.P. Morgan Private Bank to lead its investment strategy in North Asia amid rising market uncertainty in the region.
Raymond Cheng joins Standard Chartered as chief investment officer (CIO), North Asia, according to a statement. reporting to group CIO Steve Brice. Based in Hong Kong, Cheng is responsible for the CIO office’s coverage and capabilities for the North Asia region while representing its views to affluent clients.
Cheng joins from J.P. Morgan Private Bank where he was most recently its head of Asia equity strategy. Previously, he was the head of research at Bank of Communications and Bank of China.
«Timely» Hire
Cheng joins in the newly created role amid continued uncertainty for various North Asia markets including China with some investors betting on a reopening boost and stimulus while others are on the sidelines seeking better timing. The looming risk of recession and a cautious semiconductor outlook has also hit other North Asia markets like Taiwan and South Korea.
«The ongoing global market volatility has meant that clients are increasingly looking to us to help them understand what’s happening in the markets and navigate the uncertainties,» Brice said. «[Cheng’s] joining is timely as we look forward to his rich experience and knowledge of the North Asian markets to engage our clients at a different level.»
