First State Investments has made five appointments that help strengthen the company’s global operations following its acquisition by Mitsubishi UFJ Trust and Banking Corporation, a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc. in August.
Rob Scott has been appointed chief operating officer (COO), based in Hong Kong. Scott has global responsibility for operations, IT and data and he will sit on the executive leadership team. He brings more than 25 years’ experience in global business operations and IT. Prior to this role, he was head of global operations at Nikko Asset Management in Tokyo. He has also held roles at Deutsche Asset Management, BNP Paribas Securities Services, and ABN AMRO Asset Management across the Asia region.
Justin Hourigan has been appointed global head of data. Reporting to COO, Rob Scott, Hourigan has joined the firm from Cover-More where he was general manager, data, analytics and innovation. Prior to that, he worked with Commonwealth Bank of Australia as a data analytics manager. Hourigan brings a depth of experience in leading and implementing data management capabilities, and underpinning business decisions with data-driven business intelligence and analytics.
Lorraine Dryland has been appointed chief information security officer. Reporting to global head of IT, Kerry McCormack, Dryland is responsible for information and cyber-security and will focus on implementing a security strategy and framework to uplift the business’ capabilities in this area.
With more than 20 years of experience protecting UK Critical National Infrastructure in the public and private sector, she joins the firm from the Department for Work and Pensions and has previously worked for Vodafone, Bank of England and the UK’s National Crime Agency.
Ben Marks has been appointed chief audit officer. Marks reports to the board. He is a chartered accountant and certified information systems auditor with over 30 years’ audit experience in the financial services industry. He has previously held senior roles at Westpac Banking Corporation, Merrill Lynch (Australia) Limited, Bankers Trust Australia Limited and KPMG. He is also a director and treasurer of the Australian Association of Lloyd’s Members (AALM).
In addition, First State Investments recently established a subsidiary in Ireland (FSI Ireland) to provide the company’s EU clients with continued access to products and services as well as providing the business with the ability to develop its EU focused distribution activities regardless of the Brexit outcome.
Adrian Hilderly has been appointed head of FSI Ireland. Hilderly has responsibility for the management and development of FSI Ireland’s operations including regulatory interaction and oversight of investment and distribution activities. Hilderly is a director on various company boards and a member of the company’s EMEA management team. Prior to this role, he was head of risk and compliance EMEA for over six years, and he has over 30 years’ industry experience, including roles at BlackRock, Merrill Lynch and Schroders.
First State Investments Chief Executive Officer Mark Steinberg said the appointments signal the business is establishing stronger foundations to support growth globally.
“Each of these appointments will play an integral role in supporting the continued development of our global asset management business,” Steinberg says.
In Australia, First State operates as First Sentier Investors, having rebranded from Colonial First State Global Asset Management on September 16. First State Investments will rebrand to First Sentier Investors in the other markets in which it operates during 2020 in line with the Australian business.