Capital Group appoints Apac MD for global financial institutions

The former Bank of America executive has relocated from London to Shanghai.

After a deluge of defaults, a new state-owned bank called United Islamic Bank is set to emerge out of the five banks, with the plan to privatise them over time.

The global investment firm is planning an office in the Abu Dhabi Global Market later this year, with Benno Klingenberg-Timm, head of institutional for Europe and Asia, readying to relocate to the region.

Jamie Sinclair joins the global active investment manager from BlackRock in London.

Goldie joins the investment firm from Invesco in London and is chair of the European Fund and Asset Management Association ETF task force. Capital Group has seven offices in Apac.

Capital Group's Andy Budden, investment director, equities, and Manusha Samaraweera, investment director, fixed income, discussed US productivity growth, high tech valuations, rate cuts, the importance of multinationals, and more, in Singapore last month.