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Movers and shakers, March 12

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• Vanguard, the world’s second-largest asset manager, has hired David He as chief operating officer for China, a newly created role based in Shanghai. Mr He previously worked for Fidelity International.

• State Street Global Advisors has promoted Lochiel Crafter to head of its global institutional group with responsibility for distribution efforts worldwide. Mr Crafter will be replaced as head of Asia Pacific for the $2.8tn asset management arm of State Street, the US-listed bank, by James MacNevin, SSgA’s chief operating officer for the Asia Pacific region.

• Hearthstone, the £200m residential property investment specialist, has appointed Cedric Bucher as chief executive. He succeeds Alan Collett who will remain as chairman. Mr Bucher joins from Cardano, the investment adviser.

• Michael Reinhard will move in April to Universal Investment as chief operating officer for the €355bn German fund service provider. Mr Reinhard is joining from Axa IM.

• There are two new senior US business development directors at Investec Asset Management as it looks to expand in North America. Loc Vukhac and Matt Hagbom join from BlackRock and Mercer Investments respectively.

• Franklin Templeton, the $770bn California-based asset manager, has hired Caroline Baron as head of ETF sales for the Emea region. Ms Baron previously worked for Invesco.

• Lee Matthews has moved to AllianceBernstein as UK sales director for the $569bn US asset manager. He joins from Standard Life Aberdeen.

• Stanhope Capital, the $10bn London-based investment boutique, has hired Alex Kershaw as a partner in the portfolio management team. A former UK diplomat, Mr Kershaw previously served as head of the London office for Cambridge Associates, the investment consultant.

• Tim Williams has joined HSBC Global Asset Management as head of real estate investment in its alternative investments arm. Mr Williams previously worked for CBRE, the property group. Sonal Saluja has also joined the team from 90 North Real Estate, the property adviser.

• Stephanie Carbonneil has moved to Amundi as head of third party distribution for UK, Ireland and Greece for the €1.4tn Paris-listed asset manager. Ms Carbonneil, who will be based in London, previously worked for Schroders.

• The Securities and Exchange Commission, the US regulator, has appointed Heidi Stam, a former general counsel at Vanguard, as to the SEC’s investor advisory committee.

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