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The Hong Kong’s Securities and Futures Commission website shows licenses of five employees of the $247-billion pension fund were revoked on April 18.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300A welcome email is on its way.
In a statement to Reuters, OTPP spokesperson Dan Madge confirmed the firm will “no longer have country-focused stock-picking teams based in Asia,” resulting in the departure of five of their staff in its Hong Kong office. “While this decision was not an easy one to make given the impact to our team, we feel it reflects the right model for our high conviction stock selection process going forward, with a centralized team based in Toronto pursuing investment opportunities in Asia as they do for other regions,” Madge said.
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