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SINGAPORE: According to UnaFinancial’s estimates, by 2023, BNPL had been adopted by 20.6% of adults in Southeast Asia. In Singapore, its adoption reached 31.3%, in the Philippines – 27%, and in Malaysia – 24.4%. Indonesia, Vietnam, and Thailand follow, with approximately one-fifth of adults in each country opting for BNPL. Collectively, the Philippines and Indonesia accounted for two-thirds of the region’s BNPL users in 2023, underscoring their central role in Southeast Asia’s BNPL landscape. In terms of transaction volume, the region’s BNPL market reached $14.7 billion in 2023. Indonesia led with $4.28 billion in transactions, followed by Thailand ($2.91 billion), Vietnam ($2.34 billion), the Philippines ($1.97 billion), Malaysia ($1.86 billion), and Singapore ($1.3 billion). Looking forward, analysts predict that BNPL transactions will continue to grow rapidly across Southeast Asia, reaching $53.2 billion by 2027. They comment: “Southeast Asia is characterized by a young and tech-savvy population. Its high concentration of Gen Z consumers, who are generally open to adopting new financial technologies, has fueled demand for BNPL. This payment option has gained traction due to its seamless alignment with the shopping habits of Gen Z, providing them an alternative to traditional banking and credit systems.” Indonesia is projected to be a leader with $16.8 billion of BNPL transactions by 2027, marking a 209% increase from 2024. While Indonesia’s BNPL potential is the highest, realizing this growth will take more time compared to Malaysia and the Philippines. Malaysia is expected to reach $11.3 billion with a 215% growth rate from 2024. Its large Gen Z population (39%) could fuel demand, while a mature banking infrastructure may moderate BNPL’s expansion. The Philippines is anticipated to show the fastest growth at 235%, from $2.45 billion in 2024 to $8.2 billion in 2027. It is driven by an exceptionally young population – nearly half of whom are Gen Z. Moreover, insufficient access to traditional banking positions the country as one of Southeast Asia’s most promising BNPL markets. Thailand, Vietnam, and Singapore present a more moderate outlook. Thailand’s BNPL growth is expected to be slower, contributing $8.2 billion by 2027, as traditional banking remains the main consumer financing source. In Vietnam, BNPL remains an emerging trend. The market is forecast to reach $5.9 billion, supported by a growing cashless payments ecosystem. Finally, Singapore’s BNPL market, at a projected $2.9 billion, is challenged by its established financial system and access to traditional loans.

Knight Frank’s “Quality Life-ing” Report has identified Asia-Pacific as a premier lifestyle and investment destination, with Singapore standing out for individuals considering relocation. In our latest report, “Quality Life-ing: Mapping Prime Residential Hotspots” report, we evaluate 15 prominent markets based on five leading indicators: Economy, Human Capital, Quality of Life, Environment, and Infrastructure and mobility. This comprehensive analysis aims to assist prospective movers in identifying the ideal location that aligns with their specific needs and preferences. Singapore, Australia, Japan and Malaysia lead the rankings as Asia-Pacific’s leading lifestyle and investment hotspots according to this comprehensive analysis. Kevin Coppel, managing director at Knight Frank Asia-Pacific, shares: “As global wealth shifts and geopolitical landscapes evolve, affluent individuals are seeking prime residential hotspots that provide both lifestyle benefits and financial security. Markets like Singapore, Japan, and Australia continue to attract the world’s most discerning investors, offering not only strong economic fundamentals but also exceptional quality of life, infrastructure, and mobility. In this rapidly changing environment, Asia-Pacific remains a key destination for those looking to secure their wealth and future-proof their legacy.”   Christine Li, head of research at Knight Frank Asia-Pacific, adds: “The strong correlation between stock market performance and residential price growth in key Asia-Pacific markets further reflects the wealth effect at play. Japan’s stock market reached an all-time high in 2024, accompanied by a surge in Tokyo’s residential prices. Regional efforts to attract global talent and well-capitalised individuals through targeted visa programs are also adding momentum to Asia-Pacific’s housing markets. For instance, Thailand’s 25% increase in property transfers to foreign buyers, primarily from the Chinese mainland, underscores this policy impact in fostering resilient demand across the region.”   Leading destinations in Asia-Pacific Singapore: Recognised for its stability and development, Singapore emerged the top destination as it ranks among the top five in all indicators. Its robust economy, marked by political stability and a skilled workforce, makes it an attractive destination for businesses and individuals. In Q3 2024, prime residential prices rose 6.9% year-on-year, making it the second most expensive market in Asia-Pacific (Figure 2, at 2,861 US$ per square feet (psf)), 31% cheaper than Hong Kong (US$4,172 psf), but still ahead of Sydney (US$2,172 psf), Shanghai (US$2,061 psf) and Seoul (US$1,848 psf). The city-state’s economic fundamentals remain strong, with low unemployment and projected GDP growth of 1-3% for 2024. Additionally, the Family Office sector has surged from 400 in 2020 to 1,650 by August 2024, reinforcing its status as a global wealth management hub. Australia: Australia is the second most desirable location for investments and relocations, as it came in top 5 for four out of the five indicators in our study. In Q3 2024, major cities like Sydney experienced a 2.2% year-on-year price increase, supported by cash buyers and limited property supply. Despite rising interest rates, Australian cities continue to show positive price trends. The country’s diverse landscapes cater to various lifestyles, with cities like Perth seeing significant population growth of 3.6% in FY2023. Sydney continues to be the financial capital, home to over a third of Australia’s ultra-high-net-worth individuals, and Melbourne ranks highly for quality of life, excelling in healthcare and education retaining the top spot in Australia as the EIU’s most liveable city in 2024. Overall, Australia’s attractive residential market and enviable lifestyle continue to draw investors, expatriates, and international students from around the globe. Japan: Japan excels in Quality of Life and Infrastructure & Mobility aspects, boasting a high life expectancy and sophisticated transportation network. With modest economic growth projected at 0.9% for 2024, rising wages are expected to enhance consumer spending. The Tokyo residential market has shown resilience, with prices increasing over 20% since Q1 2022 and an annual rise of 12.8% noted in Q3 2024 (for the full breakdown, please click here), making it the second best-performing market in Asia-Pacific. This growth is fuelled by high demand for luxury condominiums amid limited supply. Additionally, Japan’s stock market reached an all-time high this year, attracting substantial foreign investment as Tokyo’s population continues to grow with an influx of foreign residents and investors. The Asia-Pacific residential market is poised to remain attractive to HNWIs, expatriates, and investors due to its strong price resilience amid global economic uncertainties, with safe-haven markets like Singapore, Australia, and Japan leading the way. The region’s sustained economic growth and rising affluence are expected to drive stable price growth and returns, particularly as 19 megacities are projected to emerge by 2030, intensifying housing demand. Additionally, the middle-class population in Asia-Pacific is anticipated to reach 1.7 billion by 2030, prompting a significant rise in demand for affordable housing, especially in emerging markets like Vietnam and Indonesia. Furthermore, there is a noticeable shift toward branded residences in the prime market especially in markets such as Australia, India, and Thailand, appealing to both local and international investors who value luxury living combined with high-end services on top of secure investments.

JAKARTA: Apple Inc has increased its offer to invest in Indonesia by almost tenfold, according to people familiar with the matter, in the US tech giant’s latest bid to persuade the government to lift its sales ban on the iPhone 16. The proposal would see Cupertino-based Apple invest almost US$100mil in South-East Asia’s largest economy over two years, the people said, asking not to be identified because they’re not authorised to speak publicly. Apple’s previous investment plan of close to US$10mil would have involved the company investing in a factory making accessories and components in the city of Bandung, located South-East of Jakarta, Bloomberg News reported earlier. After Apple submitted its increased offer, Indonesia’s Industry Ministry, which last month blocked a permit allowing the sale of the iPhone 16, is now demanding that the technology behemoth alter its investment plans to focus more on research and development for its smartphones in the country, the people said. The Industry Ministry hasn’t made a final decision on Apple’s newest proposal, they added. Following Apple’s initial proposal, the ministry called for senior company executives to meet Minister Agus Gumiwang Kartasasmita. But after flying into Jakarta, Apple’s senior executives were told that the minister wasn’t available and so they had to meet with the ministry’s director-general instead. Apple and the Industry Ministry didn’t respond to requests for comment. Apple’s new investment proposal came after the Industry Ministry last month blocked sales of the iPhone 16 on the grounds the United States company’s local unit hasn’t met a 40% domestic content requirement for smartphones and tablets. According to the Indonesian government, Apple has only invested 1.5 trillion rupiah (US$95mil) in the nation via developer academies, falling short of a commitment of 1.7 trillion rupiah. The South-East Asian nation has also banned the sale of Alphabet Inc’s Google Pixel phones because of a similar lack of investment. Indonesia’s hardball tactics appear to be working, with the iPhone 16 ban becoming an example of the pressure new President Prabowo Subianto’s government is putting on international firms to increase local manufacturing as it seeks to boost domestic industries. Indonesia also resorted to such tactics under the administration of former President Joko Widodo, who blocked ByteDance Ltd’s TikTok last year to shield its retail sector from cheap Chinese-made goods. This prompted the hugely popular video app to ultimately invest US$1.5bil in a joint venture with Tokopedia, the eCommerce arm of Indonesia’s GoTo Group. By offering to invest in the country, Apple is seeking to get unfettered access to Indonesia’s 278 million consumers, more than half of which are under the age of 44 and tech savvy. But such strong-arm tactics by Indonesia risk frightening off other firms from scaling up their presence or establishing a footprint in the first place, particularly ones that are looking to decouple from China. It may also jeopardise Prabowo’s aim of attracting overseas investments to grow the economy and fund policy spending. It’s unclear as to which companies Apple’s proposed investment might go. Apple typically backs assembly or components partners such as Foxconn in various countries, which in turn help produce or supply vital parts for its iPhones and iPads. — BLOOMBERG

KUALA LUMPUR: Airbus showcased its next generation twin-engine H160 in Malaysia recently, giving Malaysians a first-hand experience of the innovative medium-class helicopter that sets a new benchmark in terms of safety, comfort, and environmental performance.  The H160, which was granted type certification by the Civil Aviation Authority of Malaysia (CAAM) in October 2023, features cutting-edge technologies, including noise-reducing Blue Edge rotor blades, a canted Fenestron tail rotor for greater useful load, and Airbus Helicopters’ Helionix avionics suite for reduced pilot workload. “The H160 has set a new standard in the helicopter industry and we are pleased that Malaysia operators can now experience the aircraft’s superior performance first hand. The H160’s lower fuel consumption, its ability to use up to 50% blended SAF, comfortable cabin, and excellent cockpit visibility make it ideally suited for multiple missions. We look forward to seeing more H160 flying in the Malaysian skies soon,” said Thomas Zeman, Head of Sales and Marketing, Asia-Pacific, Airbus Helicopters.   The aircraft is uniquely equipped to meet the needs of pilots and technicians across all mission segments. It delivers added value for customers through enhanced performance and availability, economic competitiveness, innovation, safety, and comfort.   The H160 is already in service in many configurations around the globe. It now has customers for all key mission segments that it was designed to address: energy, private and business aviation, emergency medical services, search-and-rescue, law enforcement, and military.   With the H160, customers appreciate flying comfortably with an increase in volume per passenger compared to other medium-twin helicopters, as well as larger windows, creating the brightest cabin in its class.   Additionally, with a 18% reduction in fuel consumption and 50% reduction in perceived sound, the H160 allows customers to take a step toward reducing their carbon footprint. With low fuel consumption, optimised maintenance costs and faster cruise speed, the H160 paves the way in economic competitiveness when measured against other helicopters in its class.   To-date, over 30 H160s have entered into service in 13 countries, for various missions around the world.

KUALA LUMPUR: RHB Islamic Bank Berhad (“RHB Islamic” or the “Bank”) today announced a significant advancement in Islamic Wealth Management (“IWM”) with the launch of the RHB Islamic Specialists Wealth Advisor (“RISWA”) Certification Programme. As a pioneer in this space, RHB Islamic has become the first Islamic bank to implement a customised IWM certification programme specifically designed for its Relationship Managers. Developed in collaboration with the Islamic Banking and Finance Institute Malaysia (“IBFIM”), the RISWA programme is a distinctive and comprehensive certification that equips Relationship Managers with an in-depth knowledge of Islamic wealth management principles, products, and customer needs.   The programme’s rigorous training modules cover essential aspects of wealth creation, accumulation, protection, purification and distribution. By mastering these fundamentals and honing customer engagement skills, the Relationship Managers will be empowered to offer tailored, Shariah-compliant solutions that align with customers’ financial goals, and spiritual values. This initiative positions the Bank to deliver a holistic wealth management experience that is both financially rewarding, ethically grounded, and socially responsible.   Dato’ Adissadikin Ali, Managing Director of RHB Islamic, said, “Islamic Wealth Management is not just about avoiding riba, or complying with Shariah principles; it’s about integrating ethical values into every aspect of wealth creation and management. The RISWA programme allows our Relationship Managers to go beyond product knowledge and truly understand our clients’ financial aspirations and values. With this certification, we are empowering them to become trusted advisors who guide clients towards a sustainable, ethically responsible financial future. Our commitment is to offer these values-driven solutions to everyone, regardless of their background and religious beliefs, through our comprehensive suite of Shariah-compliant wealth management solutions.”   Yusry Yusoff, Chief Executive Officer of IBFIM, said, “As a lifelong learning institution, IBFIM is pleased to collaborate with RHB Islamic in developing the RISWA programme. This unique and fit-for-purpose certification, crafted with RHB Islamic’s input, will produce a team of highly skilled Relationship Managers who can deliver exceptional service and knowledge to RHB Islamic’s diverse clientele.”   Aligned with the Bank’s strategy to be everyone’s primary bank by prioritising customer experience and driving quality growth, the RISWA programme is central to achieving RHB Islamic’s IWM target of RM6 billion by 2026. The programme strengthens the Bank’s capacity to deliver personalised, high-quality wealth management solutions, supporting its ambitious IWM goals.   RHB Islamic offers a wide range of bespoke Islamic wealth solutions designed to meet the evolving needs of customers at different financial milestones. To explore the benefits of Islamic Wealth Management and learn more about RHB Islamic’s offerings, visit: https://www.rhbgroup.com/overview/islamic/islamic-wealth-management/index.html.

Datuk Zaiton Mohd Hassan, Chief Executive Officer of Malaysia Professional Accountancy Centre (MyPAC), has been appointed Vice President of the Association of Chartered Certified Accountants (ACCA). ACCA represents over 252,500 members and 526,000 aspiring professionals across 180 countries. Datuk Zaiton brings a wealth of experience to her new role. As CEO of MyPAC, a non-profit organization that helps students from underprivileged backgrounds build careers in finance, she has championed financial inclusion and education. She also holds prominent non-executive positions, including Chair of GX Bank, Malaysia’s first digital bank. “I’m pleased and honoured to be appointed as Vice President of ACCA,” said Datuk Zaiton. “I am proud that ACCA provides open access to the accountancy profession, contributing to social mobility and a more equitable future for all. Opportunity for everyone, regardless of background, is a cause I am deeply passionate about, and I look forward to advancing this in my role.” Datuk Zaiton has been a member of ACCA’s Council since 2016 and previously served as President of the ACCA Malaysia Advisory Committee. She has also held international leadership roles, including as Deputy Chair of the International Federation of Accountants (IFAC) Professional Accountants in Business Committee. Joining Datuk Zaiton in ACCA’s leadership team are President Ayla Majid, a sustainability strategist from Pakistan, and Deputy President Melanie Proffitt, Chief Financial Officer of England’s Farncombe Estate. This marks a historic milestone for ACCA, as it is the first time all three senior officer roles are held by women.

RIO DE JANEIRO: Diplomatic tensions over global warming spilled over into the Group of 20 (G20) summit negotiations in Brazil this week, with sources saying the 20 major economies reached a fragile consensus on climate finance that had eluded United Nations (UN) talks in Azerbaijan. Heads of state arrived in Rio de Janeiro last Sunday for the G20 summit and will spend tomorrow addressing issues from poverty and hunger to the reform of global institutions. The talks must now also grapple with how to address escalating violence in Ukraine after a deadly Russian airstrike on Sunday. Still, the ongoing UN climate talks have thrown a spotlight on their efforts to tackle global warming. While the COP29 summit in Baku, Azerbaijan, is tasked with agreeing a goal to mobilise hundreds of billions of US dollars for climate, leaders of the G20 major economies half a world away in Rio are holding the purse strings. G20 countries account for 85% of the world’s economy and are the largest contributors to multilateral development banks helping to steer climate finance. “The spotlight is naturally on the G20. They account for 80% of global emissions,” UN Secretary General Antonio Guterres told reporters in Rio de Janeiro. He expressed concern about the state of the COP29 talks in Baku and called on G20 leaders to do more to fight climate change. “Now is the time for leadership by example from the world’s largest economies and emitters,” Guterres said. UN climate chief Simon Stiell wrote a letter to G20 leaders last Saturday imploring them to act on climate finance, including boosting grants for developing nations and advancing reforms of multilateral development banks. However, the same fights that have plagued COP29 since it began last week became central to G20 negotiations, according to diplomats close to the Rio talks. COP29 must set a new goal for how much financing should be directed from developed countries, multilateral banks and the private sector to developing nations. Economists told the summit it should be at least US$1 trillion. Wealthy countries, especially in Europe, have been saying that an ambitious goal can only be agreed if they expand the base of contributors to include some of the richer developing nations, such as China and major Middle Eastern oil producers. Last Saturday, discussions of a G20 joint statement in Rio snagged on the same issue, with European nations pushing for more countries to contribute and developing countries such as Brazil pushing back, diplomats close to the talks told Reuters. But early Sunday morning, negotiators agreed to a text mentioning developing nations’ voluntary contributions to climate finance, stopping short of calling them obligations, according to two diplomats. The breakthrough remains overshadowed by the return to power of US President-elect Donald Trump, who is reportedly preparing to again pull the United States out of the Paris climate agreement. His election throws into doubt how much money the world can muster to address climate change, possibly without the support of the world’s largest economy. Trump is planning to roll back landmark climate legislation passed by outgoing President Joe Biden, who visited the Amazon rainforest when he made a stop there on Sunday on his way to Rio. The success of not only COP29 but also the next UN climate summit, COP30 hosted in Brazil next year, hinges on an ambitious deal on climate finance. A centrepiece of Brazil’s COP30 strategy is “Mission 1.5,” a drive to keep alive the Paris Agreement target of limiting global warming to 1.5 degrees Celsius. The UN estimates that current national targets would cause temperatures to rise by at least 2.6 degrees Celsius. Developing countries argue they can only raise their targets for emissions reductions if rich nations, who are the main culprits for climate change, foot the bill. “It is technically possible to meet the goal of 1.5 degrees Celsius, but only if a G20-led, massive mobilisation to cut all greenhouse gas emissions is achieved,” said Bahamas Prime Minister Philip Davis at COP29 last week. — Reuters

Ooi, the OMG Malaysia CEO, steps into the regional role left vacant by James Hawkins’ departure in April. PHD has appointed Eileen Ooi as its new CEO for Asia-Pacific, who steps in in after James Hawkins’ unexpected departure in April. Ooi, who has been leading Omnicom Media Group Malaysia as chief executive since 2022, will continue in that role until her successor in Malaysia is named in Q4. Her appointment is effective immediately and she will continue to be based in Kuala Lumpur for the role. She will report to both Tony Harradine, Omnicom Media Group’s APAC CEO, and Guy Marks, CEO of PHD Worldwide. James Hawkins, who had led the agency for nearly six years, left abruptly in April 2024, which surprised staff. Sources close to the matter described his exit as unexpected. While OMG provided few details, they cited a desire to “chart its future in this evolving media landscape.” Harradine praised Ooi’s track record, saying: “Eileen has a unique ability to identify strategic opportunities and effectively convert them into tangible results. Under her visionary leadership, OMG Malaysia has undergone a remarkable transformation, achieving significant business growth, with client and employee confidence at an all-time high.” Ooi joined PHD in 2016 and has since worked in various capacities in the Malaysian market. She has prior roles at Group M’s Maxus Global and Carat and stints at Mindshare and Starcom in Kuala Lumpur. Her tenure at OMG Malaysia is marked by strong new business wins, including clients like CelcomDigi, Tyson Foods, and Vinda. While Ooi’s promotion is seen as a testament to OMG’s commitment to internal talent development, she inherits a portfolio that is not without its hurdles. Under Hawkins’ leadership, PHD secured key accounts such as Visa in New Zealand and retained major clients like HSBC. However, the agency also lost prominent clients, including Unilever and Google, in Australia and New Zealand. In an exclusive interview with Campaign Asia-Pacific, Ooi outlined her priorities and vision for the agency’s future, emphasising the importance of people and culture in driving business success: “I believe that people must come first, and business results will follow. I am an advocate of building a strong culture within the network for our clients because while product and capabilities are important, great talent is still required to deliver them.” Ooi also talks about PHD’s proposition, “Intelligence. Connected.,” and how she plans to leverage it to drive growth for both clients and the agency: “Continuing on this upward trajectory, I will drive PHD’s ambitions backed by its new proposition, ‘Intelligence. Connected.’ and help clients dominate the marketplace with the next generation of tools and talent. I am excited to start with PHD because purple is part of my DNA and I have always loved the network.” Her immediate focus, she said, will be on enhancing talent capabilities, strengthening the agency’s internal culture, and supporting client transformation in an AI-driven future: “My biggest priorities are to continue elevating the capabilities of our people, strengthening our network’s connectivity and culture, and supporting our clients’ transformation.” Despite the challenges of taking over an agency that has been without an APAC CEO for several months, Ooi remains optimistic about PHD’s future. She pointed out that the group leadership team had worked closely with staff to ensure business continuity: “It has been business as usual for the past few months as the teams rallied to ensure we continue delivering intelligent business solutions for our clients.” Ooi’s appointment comes as PHD has maintained its top position in Campaign’s APAC media agency rankings. In June 2024, the agency added $49.3 million in new business, including securing the Vitasoy media account in Hong Kong and retaining the remit in mainland China—a combined deal valued at $36.5 million, according to COMvergence data. The agency also retained Bank Danamon and won pharmaceutical company Kalbe Farma’s media account in Indonesia. Guy Marks, CEO of PHD Worldwide, remarked on Ooi’s ability to lead the agency forward: “With her record of driving growth for her clients and her agency alike, Eileen is the ideal choice to ensure that PHD APAC delivers on that ambition. She’s a practitioner with an eye for detail, she moves at pace, and is a fierce collaborator—all things that will make her a great partner to our clients in Asia-Pacific.” Beyond her day job, Ooi advocates for talent development within the advertising industry. She regularly participates in local and regional speaking engagements and was recently re-elected president of the Malaysian Digital Association (MDA). –Campaign Asia

Singapore, London & New York: watchTowr, the cybersecurity company redefining External Attack Surface Management, today announced the promotion of Elvina Liow to Vice President (VP) of APAC. Having served as VP of Commercial since February 2024, Elvina will now lead watchTowr’s business across the Asia-Pacific region, driving all aspects of business strategy, execution, and growth. Her leadership will be critical to continuing the company’s hyper-growth and strengthening its presence in the region. “Elvina has been pivotal to watchTowr’s continued success and a key driver of our success in the region. Her leadership has been instrumental in expanding watchTowr’s commercial footprint and deepening both customer and partner relationships,” said Benjamin Harris, CEO and founder, watchTowr. “Her deep understanding of both the cybersecurity landscape and our customers’ evolving needs makes her the ideal person to lead our APAC business as we continue our rapid growth and global expansion.” Elvina joined watchTowr in 2022 as an Account Director, following over a decade of experience in senior sales, product management, and business development roles at industry leaders such as NTT and F-Secure. She quickly grew her career at watchTowr, earning a promotion to Head of Commercial within a year and assuming the role of VP of Commercial in February 2024, becoming part of watchTowr’s extended leadership team. “I’m truly honored to enter this role at such an exciting time for watchTowr. The APAC region has been a core foundation of the business, paving the success of our global expansion. The team has delivered impressive results, building a great client network and strong partnerships in the region,” said Liow. “Our mission to help organizations continuously validate and strengthen their security postures is more important than ever, and I look forward to deepening our presence and driving significant growth across the region.” Elvina’s promotion follows watchTowr’s recent $19 million Series A funding round, which will further accelerate its growth plans by expanding its go-to-market, research, and engineering teams. In her new role, Elvina will assume full responsibility for watchTowr’s business in the APAC region, scaling operations and driving the company’s mission to redefine and lead the external attack surface management market globally.

Marketa Dvorak was most recently head of southeast Asia for the global wealth management group at Wellington Management. Capital Group has appointed Marketa Dvorak (pictured) as managing director for global financial institutions in Asia Pacific. Based in Singapore, Dvorak will report to Nick Shaw, head of the client group for global financial institutions. Dvorak’s responsibilities will include strengthening Capital Group’s relationships with major financial institutions across the region. Dvorak began her career at JP Morgan in London before joining Wellington Management, where she spent eight years in the London office. She relocated to Singapore to 2015 to build out its wealth business in the region. Most recently, she was firm’s head of southeast Asia for the global wealth management group, responsible for strategic partnerships with global financial intermediaries and regional banks. “We hear from global financial institutions that they want fewer partners and expect more from their asset manager. We’re committed to supporting our partners across the region to meet their needs and their clients’ financial goals. Asia Pacific is a key growth market for Capital Group where we have been serving investors for more than 40 years,” said Shaw. “Marketa’s deep knowledge of the region combined with her proven ability to foster meaningful relationships will be instrumental as we continue to build upon the successful partnerships we have established. We are delighted to welcome her to the team.” “I am excited to join Capital Group in this role, dedicated to growing and establishing strategic relationships with global financial institutions in the Asia Pacific region. I look forward to collaborating with our team around the world to further build upon the momentum with GFI partners both globally and locally and support more investors in the region,” said Dvorak.