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Index Product - Asia Head of the MSCI ETF/Passive Business (Hong Kong)
MSCI is a leading provider of research-based, mission critical investment decision support tools for investors globally, including asset managers, banks, hedge funds and pension funds. We offer a range of products and services including indexes, ESG research, and portfolio risk and performance analytics.
The MSCI Indexes are used as benchmarks for over US$ 9 trillion in funds (including retail and institutional, actively and passively managed). Over the years, MSCI Indexes have become the market reference connecting the owners of the assets, the manager of the assets and the traders of the assets. MSCI Index data is used on a daily basis by most Pension Plans, Sovereign Wealth Funds, Fund Managers, Private Banks, Insurance Companies, Custodians and Broker Dealers.
The main use case for the MSCI Indexes is fund/portfolio benchmarking. To serve this, we provide a number of electronic Benchmark Data packages that are sold to clients as yearly subscriptions. This business line represents about 2/3rd of the Index run rate.
In addition to benchmarking, the MSCI Indexes are used as the basis for various types of Indexed funds (institutional, separately managed and retail funds), ETFs, over-the-counter delta-one swaps, structured products and exchange-listed Futures and Options. In each of these product categories MSCI holds a very large and growing global franchise. For this business, MSCI charges bps on the AUM (or per-trade fees on trading products). This business line represents about 1/3rd of the Index run rate.
For more information, visit us at www.msci.com.
About the MSCI Index Business in Asia
Our market position in Asia is very strong.
The vast majority of off-shore investments in equities are benchmarked to a MSCI Index, with flagship names such as MSCI Kokusai, MSCI World ex Australia, MSCI Emerging Markets, MSCI AC Asia ex Japan and MSCI China A. As a consequence, our Benchmark Data subscription business is strong and growing.
Relatively speaking, in Asia, the use of MSCI Indexes to serve indexed funds, ETFs and derivatives is relatively under-developed as compared to other regions, which is an area for further investments. However, more positively, the region’s adoption of Factor (Smart Beta) investing is on par, if not slightly ahead of the other regions.
Some of the main structural trends affecting our Index business in Asia are a) the rapidly growing investment management industry, b) the gradual reduction in home-bias in asset allocations, c) the growing importance of China equities d) the adoption of passive investments and e) the adoption of factor investing. In each of these areas, MSCI is well positioned to capture the business upside.
POSITION OVERVIEW AND RESPONSIBILITIES:
The goal is for MSCI to become the leading, most profitable and most influential index provider in the region. We are ambitious, profitable, and ready to make the material investments needed to achieve this goal.
We are a small sized team with entrepreneurial flair. While various internal functions, such as Client Coverage, Research and Operations share the same ambition and will always operate cohesively, the Asia Head of MSCI ETF/Passive business will be accountable to lead in two specific areas;
1. egional ETF/Passive business strategy and market share growth
The MSCI ETF/Passive Business Head will lead the licensing strategy process by clearly defining the fund managers with whom we want to expand our relationships, the right fund line-up for each country, the right fees and the right marketing support needed (i.e. the 4 “P”) to grow the business (P&L).
In order to define our strategy, this person will be responsible to clearly define our approach to each client segment, based on the investors’ use-case and their competitive choices. A strong understanding of these demand-drivers will be the foundation to guide our actions and investments, for example identifying product gaps, client coverage gaps and the competitive positioning our Indexes.
More specifically, the licensing of product providers will be done through a strong cooperation between this person and our generalist coverage teams in each Asian country (including HK, China, Australia, Japan and India). Whereas the account management and relationship will be led by Client Coverage, this person is responsible to making regular product ideas presentations to our clients and ensure that our franchise is fully maximized, whether through locally listed or offshore listed MSCI based financial products.
On occasion, the ETF/Passive Business Head will be called upon to solve a specific client problem and/or to support a client specific business opportunity (for example, more complex licensing and fee negotiation, competitive issues).
2. Point person to the product teams within BlackRock and iShares in Hong Kong
This person will be the main point person with our leading client, BlackRock / iShares in Hong Kong. As such, this person will hold very regular sessions with Product groups to develop and license new indexes as well as helping communicate the benefits of our indexes through their client’s Sales and Marketing channels. This will for example include being occasionally the MSCI spokesperson at their client events
This person will need to be a trusted and senior partner with BlackRock and iShares, able to discuss both broad ranging topics and specific product ideas. Importantly, this person needs to treat any client information as highly confidential.
Strong analytical skills to grasp the important market dynamics in each country (e.g. asset pools, market players, competitors, regulation) and be able to factor these in the competitive business strategy. In particular, understanding the Institutional vs. Retail investor behavior as well as the competitive dynamic of the local asset management industry will form important foundations to our strategy and plans.
Be extremely effective in working within a team so as to be able to initiate, motivate, coordinate and support the multi-functional internal resources (e.g. Client coverage, Research, Operations, Compliance, and Finance)
Strong business judgement and analytical skills to address our opportunities and challenges in a rapid and highly effective manner.
Able to regularly present our product campaigns to clients, and, our business strategy, plans and results to senior management
DESIRED EXPERIENCE AND QUALIFICATIONS:
10+ years of work experience with a strong understanding of the Asian fund management and ETF category.
Proven track record in business management, ideally within a business or product management role in a leading asset management firm.
Team-player with the maturity and presence to make an impact with clients and with senior management.
Advanced degree, preferably an MBA from a highly regarded institution.
Mandarin is preferable, but not a pre-requisite. Strong mastery of English is however necessary.
Due to the great number of applications we receive for each of our open vacancies, we are unable to respond on an individual basis.
To all recruitment agencies: MSCI does not accept unsolicited CVs/Resumes. Please do not forward CVs/Resumes to any MSCI employee, location or website. MSCI is not responsible for any fees related to unsolicited CVs/Resumes.
MSCI Inc. is an equal opportunity employer committed to diversifying its workforce. It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, gender, gender identity, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy (including unlawful discrimination on the basis of a legally protected pregnancy/maternity leave), veteran status, or any other characteristic protected by law.