BlackRock names ex-McKinsey partner Geraldine Buckingham head of APAC

27 November 2018

Former McKinsey partner Geraldine Buckingham has been named as the new head of Asia Pacific for global investment powerhouse BlackRock.

Crossing in February next year from her current role as Global Head of Strategy for the world’s largest assets manager (which surpassed $6 trillion in assets under management earlier this year), Buckingham as the new chair and head of the Asia Pacific will oversee a concerted market push in what BlackRock’s Chairman and CEO Laurence D. Fink describes as one the investment firm’s most critical priorities.

“Geraldine has earned respect around the globe for her deep insights and understanding of our industry and our clients’ needs, particularly in Asia Pacific,” Fink said of the appointment. “She helped develop the firm’s long-term growth strategy for China, and has been a key voice in our strategy for retirement, wealth, alternatives and sustainable investing. Geraldine has the business expertise we need to drive our business forward.”

To be based out of Hong Kong, Buckingham replaces Ryan Stork, who will return to New York to take on the role of deputy global chief operating officer for the firm. Since joining from McKinsey & Company in 2014, where she was a partner in the management giant’s financial services practice based out of New York, Buckingham has also served in the position of Head of Americas Corporate Strategy for BlackRock, and is a member of the firm’s Global Executive Committee.BlackRock names ex-McKinsey partner Geraldine Buckingham head of APACWith a previously stated keen eye toward the Chinese market, Fink spoke more broadly about the Asia Pacific as a pivotal long-term key for the firm; “Asia-Pacific is one of BlackRock’s most critical priorities. Consistent with our approach around the world, we aim to have a truly local presence in Asia so we can respond to the unique needs, objectives, and cultures of our clients in each market,” the CEO said.

Currently, the region accounts for just 7 percent of the firm’s $6.4 trillion worth of assets under management, with BlackRock’s Asia Pacific operations spanning from Australia to India and including bases in Japan, Korea, Taiwan, Singapore, Hong Kong and China – the latter market projected by Oliver Wyman to see a near doubling in assets under management to $14 trillion by 2022 thanks to new local regulations, with global asset managers set to especially benefit.

“I feel privileged to have led such a strong team to deepen our penetration in this high-growth region, particularly in terms of onshore access to the China market,” outgoing APAC head Stork said of his departure. “I am now looking forward to taking on my new role to focus on how we can improve our global operating model, innovation and use of technology. As such, I take pleasure in the knowledge I will be continuing to contribute to the APAC growth story.”

Buckingham, who hails from Australia and holds both Bachelor of Medicine and Bachelor of Surgery (MBBS) degrees from Monash University along with an M.Phil in Comparative Social Policy from Oxford, said of her appointment; “I am thrilled to be taking on this new challenge and will maintain a sharp focus on current priorities, while capitalising on major growth opportunities to deliver the right mix of investment strategies for our clients.”

Deloitte adds Richard Hayler as Disputes and Arbitration leader

16 April 2019

Deloitte has brought in Richard Hayler as its new Southeast Asia Disputes and Arbitration Leader. Hayler crosses from FTI Consulting – continuing the recent personnel shuffle in the regional forensics space.

Following the onboarding of veteran forensics expert Jarrod Baker as its new Forensic Investigations Leader for Southeast Asia earlier this year, global professional services leader Deloitte has added another ex-FTI Consulting executive to its regional forensics practice with the appointment of Richard Hayler as its new Southeast Asia Disputes and Arbitration leader. It’s Hayler’s second stint at the Big Four firm.

Originally starting out as an auditor in the chemicals, pharmaceuticals & energy practice of fellow Big Four firm KPMG in the UK (via a five-year Technical Director role with specialist life sciences consultancy Primarius), Hayler after three years crossed to Deloitte in 2008, serving as an Associate Director for its Forensic & Dispute Services division in London, and then from 2012 in Singapore. 

From there, Hayler joined the Singapore office of FTI Consulting’s Economic & Financial practice, promoted to senior managing director at the beginning of last year. Now, like his colleague Baker, Hayler has returned for his second stint with Deloitte, after respectively four and nearly six years with FTI. Meanwhile, FTI recently added e-discovery expert Christopher Marks as a senior managing director – continuing its global raid on Ernst & Young.

“I am delighted to be returning to Deloitte rejoining old friends and being on board with a great team,” Hayler said. This is an exciting time to be back at Deloitte as the firm has made great strides integrating to serve its clients across Asia Pacific better and I look forward to being part of that success.” As of September last year, Deloitte began integrating its Asia Pacific arms into single operational unit – with a co-attendant $321 million investment committed to human capital.Deloitte adds Richard Hayler as Disputes and Arbitration Leader in Southeast AsiaHayler across his career has developed expertise in a broad range of  competencies around forensics, disputes and litigation, including complex valuations, M&A and contractual disputes, accounting irregularities; alleged misappropriation, asset tracing and fraud investigations among others – having led or advised teams multiple jurisdictions in “some of the largest and most complex cases in the last decade.”

“Having Richard in our leadership team is a strong market differentiator,” said Tim Phillipps, Deloitte’s Financial Crime Strategy and Response Network leader for APAC. “His track record and extensive experience will be critical as we continue to expand and strengthen our presence in the Southeast Asia region.  It will enhance our capacity to serve our clients, and ensure that we continue to provide clear, timely and insightful counsel.”

In addition to Deloitte, Hayler serves on the Standards Review Board of the International Valuation Standards Council, as well as being a member of the adjunct faculty at Singapore Management University’s School of Law and the Honorary Treasurer for the Board of Directors of the Chartered Institute of Arbitrators Singapore. He was also last year a group representative for financial & fintech business group with the local British Chamber of Commerce.

According to the firm, Hayler’s recruitment forms part of its plans to expand its forensics services in the region – a practice which has already grown substantially in recent years to include more than 125 dedicated forensic practitioners based in Singapore, Indonesia, Malaysia, Thailand, and Vietnam, with growth driven by investment in disputes and arbitration, electronic discovery, investigations, forensic digital platforms and financial crime advisory and analytics among other areas.