June 21, 2016 | JW Marriott, Hong Kong

DISCRETIONARY PORTFOLIO MANAGEMENT

PEER-TO-PEER CONNECT 2016

Conversation Partners Networking Partner

apb.news/dpmphk2016s

DISCRETIONARY PORTFOLIO MANAGEMENT PEER-TO-PEER CONNECT

2016 SURVEY

Advisory Council

Bryce WanManaging Director, Portfolio Management GroupGoldman Sachs

Garth BregmanHead of Portfolio Managment, AsiaBNP Paribas Wealth Management

Mourad Tahiri-AlaouiHead of Discretionary Portfolio Management, AsiaPictet Wealth Management

Patrick GrossholzHead, Investment Management, APACUBS Wealth Management

Sally WrightHead of Discretionary Portfolio Management, AsiaUnion Bancaire Privée

Sean CochranHead of Portfolio Specialists, Asia PacificUBS Wealth Management

Stephanie ChanHead of Managed Solutions and Alternative InvestmentsNomura

Programme

Registration and Co�ee 9:00am - 9:30am

Opening Comments9:30am - 9:35am

Leaders Conversation Panel 1

Establishing and developing a discretionary management o�ering is not an overnight process, but rather one that requires deep planning, foresight and resource. Thus, though private banks are today cognisant of the fact that DPM will be a critical aspect of their business going forward, there is no set blueprint.

How should private banks go about assembling and calibrating their discretionary teams and infrastructure, given the institutional context, client needs and market conditions? How is the regulatory environment shaping banks’ approach to DPM, and what changes are in store? If RMs are not su�ciently equipped - or informed - to sell DPM, what steps can be taken? This panel will focus on the day-to-day struggle of setting up and operating a discretionary portfolio management o�ering at a private bank in Asia.

Moderator:

Sebastian Enberg, Deputy Editor, Asian Private Banker

Conversation catalysts:

Garth Bregman, Head of Portfolio Management, Asia, BNP Paribas Wealth Management

Mourad Tahiri-Alaoui, Head of Discretionary Portfolio Management, Asia, Pictet Wealth Management

Sean Cochran, Head of Portfolio Specialists, Asia Pacific, UBS Wealth Management

9:35am - 10:15am

Breakout Session A | The Di�erentiator in a Quiet Market. What can DPM learn from institutional investors?

Key macroeconomic factors appear to be at a crossroads junction, presenting new challenges for asset allocators. Research analysts are concerned about high valuations over DM assets while complaining about the continuing compressed multiples in the EM and commodity segments. With no clear trends emerging, the market for flow products has somewhat dried up. The need for qualified wealth management advice has become more urgent, but how can those advisors e�ciently deliver on those views? What solutions could be imported from the institutional marketplace into the private banking world?

Moderators:

Bernard Wai, Managing Director and Head of Private Client Solutions APAC, Investor Sales, Citi Markets and Securities Services

Peter Fung, Managing Director and Head of MAG Solutions APAC, Citi Markets and Securities Services

Breakout Session B | Looking at Market Volatility through a Behavioural Lens

Exploring recent market volatility and providing a practical look at how human emotions and ‘behavioural biases’ have created opportunities to generate returns.

Moderator:

Jeik Sohn, Investment Director, M&G Investments

Breakout Roundtable Sessions

Breakout sessions will be held concurrently in separate rooms.

11:05am - 11:45am

10:20am - 11:00am A

Room 3004

B

Room 3005

B

A

11:50am - 12:30pm Leaders Conversation Panel 2

As markets continue to challenge conventional investment assumptions, discretionary managers are being challenged to review the dynamics between passive and active management; make tactical bets to boost returns and mitigate the performance-destroying tendencies of mistimed selling; and, decide whether to make large macro calls in portfolios or delegate short-term volatility management to external asset managers.

What is the real appetite for CIOs to make large macro market calls and for discretionary managers to implement such views in the granular? Or have portfolios opted to outsource the interplay between select asset classes to external managers focusing on better short-term risk-adjusted trades to boost returns?

Moderator:

Richard Otsuki, Senior Reporter, Asian Private Banker

Conversation catalysts:

Bryce Wan, Managing Director, Portfolio Management Group, Goldman Sachs

Patrick Grossholz, Head, Investment Management, APAC, UBS Wealth Management

Sally Wright, Head of Discretionary Portfolio Management, Asia, Union Bancaire Privée

Networking Luncheon12:35pm - 1:30pm

Bernard Wai is a Managing Director and APAC Head of Private Client Solutions, based in Hong Kong. He has served in a variety of capacities in Hong Kong and Tokyo since joining Citi in 2002, including Head of Retail Structured Products Sales and Head of Pan Asian Equity Derivatives and Convertible Bond Sales. The Private Client Solutions business is responsible for the marketing and execution of multiasset structured solutions for financial intermediaries, including private banks and consumer banks, and their clients. Mr Wai began his career as an equity derivatives salesperson covering hedge funds at Morgan Stanley. He holds a BS in Economics from The Wharton School of the University of Pennsylvania, U.S.

Bernard WaiManaging Director and Head of Private Client Solutions APACInvestor SalesCiti Markets and Securities Services

Peter Fung joined Citi in May 2014 as Managing Director, Head of Structured Solutions for the Multi‐Asset Group Asia and Pan Asia Equities. Peter is responsible for the marketing, structuring and execution of asset and liability side solutions for institutional, corporate and private clients in Asia Pacific.

Prior to joining Citi, Peter was at Bank of America Merrill Lynch in Hong Kong for 3 years running Exotics, Fund Linked and Corporate Derivatives Trading, and Deutsche Bank in Hong Kong and London for 14 years running Exotics, Fund Linked and Corporate Derivatives Trading. He has extensive experience with equity and multi‐asset structured products, systematic investment strategies, fund‐linked derivatives, variable annuity life solutions, and structured financing solutions for corporate clients. He holds Bachelors and Masters degrees in Engineering from University College London and Imperial College London.

Peter FungManaging Director and Head of MAG Solutions APACCiti Markets and Securities Services

Moderators

Jeik is the Investment Director for Asia Pacific. He joined M&G in 2009 as a Product Manager focusing on multi asset and alternatives in London. Jeik was relocated to Asia in 2011 to establish M&G's o�ces in Singapore and Hong Kong. Prior to joining M&G, he worked as a research analyst at an art investment index. Jeik has a MBA from London Business School and BA from the NYU Stern School of Business.

Jeik SohnInvestment DirectorM&G Investments

Sebastian EnbergDeputy Editor Asian Private Banker

Sebastian is the Deputy Editor of Asian Private Banker. His background is in international politics, and Chinese foreign policy and security.

Sebastian graduated from Victoria University of Wellington with a Master of Strategic Studies majoring in Strategic Intelligence, and more recently, from the City University of Hong Kong with a Master of Arts. In 2012, Sebastian was awarded the university’s Top Scholar Prize for his cohort.

Richard joined Asian Private banker in 2012, where he covers a multitude of facets in Asia’s private banking industry including in asset management capital markets and recruitment.

Richard graduated from Hong Kong Baptist University with a Bachelors of Arts in English Literature with a specific focus on postmodern literary theory. In his spare time, Richard is an avid fan of basketball both as a player and spectator. Richard Otsuki

Senior ReporterAsian Private Banker

Bryce is head of the Portfolio Management Group within Private Wealth Management in Asia.

Previously, he was a private wealth advisor, focusing on the Hong Kong and China markets for 12 years. Bryce joined Goldman Sachs in 1999 as an associate and was named managing director in 2013.

Prior to joining the firm, Bryce worked in various industries, including management consulting, technology and telecommunications in Asia.

Bryce earned an MBA from Harvard Business School and a BEng in Electrical and Electronics Engineering from The University of Hong Kong.

Bryce WanManaging DirectorPortfolio Management Group Goldman Sachs

Conversation catalysts

Garth has been Head of Discretionary Portfolio Management (DPM), Asia since 2012, leading a team of more than 10 portfolio managers, spread across Hong Kong and Singapore.

He was previously Head of DPM and Head of Investment Advisory for BNP Paribas Wealth Management in London. Prior to this he was Head of DPM for BNP Paribas Wealth Management in The Netherlands, where he managed a team responsible for over USD 3bn of discretionary client assets for HNW, UHNW and institutional clients, as well as a range of asset management funds for both retail and institutional investors. He has significant asset management and wealth management investment experience across multiple asse classes.

Garth holds a Bachelor of Science degree in Actuarial Science, is a CFA charter holder, and holds an Executive MBA from INSEAD, where he graduated with distinction. He also holds a Master’s degree in in Comparative East-West Philosophy from the University of Hawaii.

Garth BregmanHead of Portfolio Management, AsiaBNP Paribas Wealth Management

Mourad has over 20 years of experience in WM and has joined Pictet Wealth Management in April 2012 as the Regional Head of Portfolio Management. Prior to joining Pictet, he spent 16 years at BNP Paribas leading various teams in Europe & Asia.

In HongKong, as the regional head of Portfolio Management, he led a team of portfolio managers, developed an Asian product o�ering and built quantitative investment strategies. In Switzerland, he ran long/short equity portfolios and was responsible for the equity and fixedincome portfolio management teams.

Mourad holds a Masters in Finance from University Paris I as well as a Telecommunications engineering degree from University Paris XIII.

Mourad Tahiri-AlaouiHead of Discretionary Portfolio ManagementAsiaPictet Wealth Management

Patrick leads Investment Management APAC, whose activities include investment content and securities selection, portfolio implementation, product development, marketing and distribution. Patrick oversees a regional shelf of discretionary portfolio solutions investing in equity, fixed income, mutual funds and alternative investments.

In addition, Patrick is also the local Product Head UBS Hong Kong, overseeing all Product Specialists at UBS Hong Kong.

Patrick has worked for UBS since 1980, in his initial years with the |nvestment Bank and subsequently with Wealth Management. At the Investment Bank, he was head of fixed income treasury trading teams in Zurich and Luxembourg. At Wealth Management, Patrick developed extensive experience in both advisory and discretionary portfolio solutions, leading numerous teams in Zurich over the course of the years and was recently head of Investment Products and Services in Europe.

In August 2012, Patrick joined Wealth Management APAC in Hong Kong as Regional Head Suitability and subsequently as Head Investment Management APAC.

Patrick GrossholzHeadInvestment ManagementAPACUBS Wealth Management

Sean Cochran is Head of UBS Portfolio Specialists APAC, a division within UBS which advises Wealth Management Clients on the establishment of portfolio solutions to achieve their investment objectives. Sean leads a regional team of Portfolio Specialists and has responsibility for UBS' sales of discretionary and advisory mandates as well as investment funds across Asia Pacific. Sean has 17 years of wealth management experience in the US, Asia and Australia including having served as Head of UBS Ultra High Net Worth Consulting Singapore, Head of UBS Products and Services Consulting Singapore, and Head of UBS Wealth Management Sydney. Sean is a regular contributor to regional media on the topics of investment management and portfolio construction and holds an MBA in Finance and Economics from Columbia Business School and is a Certified Financial Planner.

Sean CochranHead of Portfolio SpecialistsAsia PacificUBS Wealth Management

Sally Wright is Head of Discretionary Portfolio Management for the Private Bank in Asia for Union Bancaire Privee.

Based in Hong Kong, Sally is responsible for discretionary portfolios for Ultra High Net Wealth clients. She manages tailored portfolios and provides investment advice across asset classes.

With 22 years of experience, Sally has worked in Private Banking, Change Management, and for the last

18 years, she has been a Portfolio Manager looking after Private Clients of the Investment Department, in London and Asia.

Sally is a CFA charterholder and a fellow of the Chartered Institute for Securities & Investment. Sally holds a BSc (Hons) Biological Sciences from the University of Durham.

Sally WrightHead of Discretionary Portfolio ManagementAsiaUnion Bancaire Privée

Notes

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