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Euroclear continues to deliver strong results in 2024

BRUSSELS, Feb. 5, 2025 /PRNewswire/ — Results for the year ending 31 December 2024

Euroclear Holding
Euroclear Holding

Financial highlights

Euroclear’s underlying[1] business income and interest earnings reached record levels in 2024

  •  Underlying operating income increased by 5% to reach €2,899 million.
  •  Underlying business income is up by 5% to €1,748 million, driven by strong settlement and safekeeping activities, with assets under custody reaching €40.7 trillion as of end December 2024.
  •  Underlying business income for Q4 2024 increased by 7% compared to Q4 2023, driven by strong performance in Eurobonds, European Assets, Global Emerging Markets and Funds.
  •  Despite a decreasing trend in interest earnings in the second half of 2024 due to interest rate changes, underlying interest income increased by 3% year-on-year to €1,152 million.

Cost and margin evolution

  •  Euroclear reported several one-off events in Q4 2024, resulting in a total impact of €117 million. These include an initial dotation and the 2024 contribution to the newly created Euroclear Foundation (see below), the impact of the initial consolidation of Goji and Quantessence within the Euroclear Holding figures, a voluntary retirement incentive plan and a voluntary early retirement plan and the related tax impact.
  •  When excluding the above-mentioned events, underlying adjusted operating expenses increased by 3% year-on-year to €1,333 million, in line with the continued focus on cost mitigation and our 2-3% organic cost growth target.
  •  Q4 2024 underlying adjusted operating expenses increased by 5% versus Q4 2023, also reflecting exceptional HR and IT-related elements amounting to approx. €10 million.
  •  Adjusted business income operating margin for the full year 2024 improved as a result by 1.5 percentage points to 23.7%, in line with our focus to create positive operating leverage.

Net profit and EPS evolution

  • Underlying net profit increased by 6% to a record level of €1,038 million.
  • When excluding the above-mentioned one-off cost events, resulting adjusted underlying net profit increased by 5% to €1,155 million.
  • Underlying adjusted Earnings Per Share increased by 5% to €367, reflecting the continued increase in net profit.

Capital position and dividend proposal

  •  Euroclear group retains a very strong capital position, comfortably above regulatory requirements with an underlying Common Equity Tier 1 capital ratio slightly above 60%[2].
  •  The Board proposes to pay a dividend per share of €220 by the end of Q2 2025. This represents an increase of 5% and maintains the pay-out ratio at around 60% of the adjusted underlying earnings.

The impacts of the Russian sanctions are detailed in the last section of this press release.

Valerie Urbain, Chief Executive Officer of Euroclear, commented:

“2024 was a year of record financial performance, underpinned by our increasingly diversified business model and driven by strong business income and sustained interest income. Our strategy and new management structure puts clients at the centre of our plans, and we continue to make progress against our key objectives. In 2024, we grew our funds business and European presence through the announced acquisition of Inversis in Spain. We also continue to support market adoption of digital assets by attracting new issuances on our D-SI platform while participating in important projects with industry partners to drive innovation across European post-trade.

Our core activities continue to thrive. We have reached record levels in settlement and safekeeping activities, with assets under custody closing the year over the €40 trillion mark. The outstanding of Euroclear’s Collateral Highway is now close to €2 trillion, while the funds depot also hit a new high of 3.6 trillion.”

Business performance 

The key operating metrics (end of period unless stated otherwise) demonstrate an excellent business performance during the period.

FY 2023

FY 2024

YoY evolution

3-year CAGR

Assets under custody

€37.7 trillion

€40.7 trillion

+8 %

+3 %

Number of transactions

299 million

331 million

+10 %

+4 %

Turnover

€1,072 trillion

€1,162 trillion

+8 %

+5 %

Fund assets under custody

€3.1 trillion

€3.6 trillion

+16 %

+4 %

Collateral Highway

€1.67 trillion

€1.9 trillion

+15 %

+1 %

Underlying cash deposits (full year average)

€23.7 billion

€22.8 billion

-4 %

+3 %

Euroclear’s assets under custody reached a record €40.7 trillion, growing for the ninth quarter in a row, thanks to solid stock exchange performances and robust results in fixed income.

Settlement volumes hit a new high due to sustained activity throughout the year.

Boosted by the ETF activity, combined with the rise in equity markets, fund assets under custody reached the record level of €3.6 trillion.

The Collateral Highway’s outstanding continues to increase and is now close to its prior peak level.

Business milestones

Advancing the funds business 

Over the past years, Euroclear’s funds offering has evolved rapidly thanks to acquisitions such as MFEX in 2021 and Goji in 2023. In 2024, major clients in Asia, Europe and the US, including Banque et Caisse d’Epargne de l’Etat Luxembourg (Spuerkeess), Blackrock, China Construction Bank (Asia), DBS Bank or ODDO BHF have selected Euroclear FundsPlace for the onboarding of their investment funds. Euroclear provides them with a one-stop-shop solution for fund distribution and execution services via its extensive network, allowing their clients to have access to more than 250,000 funds.

In 2024, Euroclear acquired a strategic stake in IZNES, a pan-European funds marketplace based on blockchain technology. This partnership complements Euroclear’s funds services in the French market and beyond as it continues to play an active role in the development of innovative funds distribution models.

In July 2024, Euroclear announced the acquisition of a 49% stake in Inversis, a leading provider of global investment technology solutions and outsourced financial services with the intention to become the full owner of the Spanish company by end 2027. By acquiring Inversis, Euroclear aims to accelerate the delivery of its funds strategy and increase its pan-European coverage thanks to Inversis’ significant presence on the Spanish market.

In Asia, Euroclear acquired a strategic stake in Marketnode, a Singapore-based digital market infrastructure operator. By joining forces with Marketnode, Euroclear aims to participate in the setup of a key market infrastructure in Asia-Pacific designed to simplify the management of fund flows and reduce settlement times by using DLT technology.

Reshaping traditional financial services

Euroclear has an important role to play in bridging the gap between digital asset securities and the conventional financial landscape. In 2024, Euroclear made significant progress to become a digital, data-enabled Financial Market Infrastructure by welcoming the Digital Native Note (DNN) issued by the Asian Infrastructure Investment Bank on its Digital Securities Issuance (D-SI) platform. This marks the first of such digital issuance in USD for Euroclear and the first by an Asia-based issuer on its platform. 

Euroclear is also actively engaged in exploring the full potential of digital assets and participates in various DLT projects with market partners. Alongside Digital Asset and The World Gold Council, it successfully completed a groundbreaking pilot to tokenise gold, Gilts and Eurobonds for collateral management. With the support of Paris Europlace, Euroclear worked with a group of French banks around its D-SI platform and Banque de France’s DL3S platform for Central Bank Digital Currency (CBDC) to issue the first Digitally Native Note (DNN) under French law and settled it in CBDC.

Streamlined management structure

Following the appointment of Valérie Urbain as CEO of the group, Euroclear redesigned the structure and composition of its top management team to accelerate strategy execution. A new, expanded Executive Committee composed of eight members ensures the representation of all the group’s constituents in all key strategic decisions and a stronger focus on clients, business operations and people – both in Europe and internationally.

Launch of the Euroclear Foundation to amplify social impact

Euroclear aims to make a significant positive social impact in the locations where it operates. By establishing the Euroclear Foundation, Euroclear will seek to improve lives and support the next generation by working to eliminate pressing social and environmental issues.

The Euroclear Foundation builds on the company’s existing initiatives aimed at increasing its social impact. These include a group-wide volunteering programme, long-term community partnerships and a Matching Gift programme to match employee donations.

Russian sanctions impacts 

Financial impacts of the Russian assets

  • Following the implementation of the EU windfall contribution regulation, Euroclear provisioned €4 billion as windfall contribution in 2024.
  • After retention of a 10% share of the windfall contribution to comply with capital and risk management requirements, Euroclear made a first payment for H1 2024 of approx. €1.55 billion to the European Fund for Ukraine in July 2024. A second payment for H2 2024 is expected to take place in March 2025 and should amount to approx. €2 billion.
  • Interest earnings related to Russian assets, which are subject to Belgian corporate tax, generated €1.7 billion tax revenue.
  •  The sanctions and Russian countermeasures resulted in direct costs of €94 million and a loss of business income of €27 million.
  •  Gradual rate cuts have led to a gradual decline in interest income related to the Central Bank of Russia’s assets in 2024 with the outlook for future interest earnings likely to continue to decline though dependent on future policymaking decisions.

Update on Russian sanctions and countermeasures

Russia’s invasion of Ukraine in February 2022 resulted in market-wide application of international sanctions. Euroclear considers the application of international sanctions as a key obligation. Therefore, well established processes are in place which have allowed the group to implement the sanctions while maintaining our normal course of business.

As a result of the sanctions, blocked coupon payments and redemptions owed to sanctioned entities continue to accumulate on Euroclear Bank’s balance sheet. At the end of December 2024, Euroclear Bank’s balance sheet totalled €212 billion, of which €183 billion relate to sanctioned Russian assets.

In line with Euroclear’s risk appetite and policies and as expected by the EU Capital Requirements Regulation, Euroclear’s cash balances are re-invested to minimise risk and capital requirements. In 2024, interest arising on cash balances from Russian-sanctioned assets was approximately €6.9 billion. Such interest earnings are driven by the prevailing interest rates and the amount of cash balances that Euroclear is required to invest. Subject to Belgian corporate tax, these earnings generated €1.7 billion tax revenue for the Belgian State. As such, future earnings will be influenced by the evolving interest rate environment.

Effective 15 February 2024, the EU Council adopted a Regulation requiring Central Securities Depositories (CSDs) holding reserves and assets of the Central Bank of Russia with a total value of more than €1 million to apply specific rules in relation to the cash balances accumulating due to restrictive measures. These CSDs, such as Euroclear Bank, should account for and manage such extraordinary cash balances separately from their other activities, should keep separate the net profit generated and should not dispose of these ensuing net profits (e.g. in the form of dividends to shareholders).

In May 2024, the European Commission has adopted a new regulation about a windfall contribution applicable to CSDs holding Russian Central Bank assets with a total value of more than €1 million. The profits generated by the reinvestment of these sanctioned amounts dating from 15 February 2024 onwards are required to be contributed to the European Fund for Ukraine. After retention of a 10% share of the windfall contribution to comply with capital and risk management requirements, Euroclear made a first payment of approx. €1.55 billion to the European Fund for Ukraine in July 2024. A second payment is expected to take place in March 2025 and should amount to approx. €2 billion.

Issued on 16 December 2024, the 15th EU sanctions package against Russia included a loss recovery mechanism which allows for the release of cash balances held by European CSDs under certain conditions. This derogation will enable CSDs to request competent authorities to unfreeze cash balances and use them to meet their legal obligations with their clients.

Euroclear continues to act prudently and to strengthen its capital by retaining the remainder of the Russian sanction related profits as a buffer against current and future risks. Euroclear is focused on minimising potential legal, financial, and operational risks that may arise for itself and its clients, while complying with its obligations.

As a direct consequence of the sanctions and countermeasures, Euroclear faces multiple proceedings in Russian courts. Since Russia considers international sanctions against public order, Russian claimants initiated legal proceedings aiming mainly to access assets blocked in Euroclear Bank’s books, by claiming an equivalent amount in Russian Ruble and enforcing their claim in Russia. Despite all legal actions taken by Euroclear and the considerable resources mobilised, the probability of unfavourable rulings in Russian courts is high since Russia does not recognise the international sanctions.

Euroclear Bank and Euroclear Holding are the two group issuing entities. The full year 2024 summary income statements and financial positions for both entities are shown below.

The drop in FY2024 figures compared to FY2023 reflects the booking of the windfall contribution related to the Central Bank of Russia’s (CBR) assets dating from 15 February 2024.

The evolution of FY2024 figures compared to FY2023 reflects the increase in intragroup dividend.

About Euroclear

Euroclear group is the financial industry’s trusted provider of post trade services. Guided by its purpose, Euroclear innovates to bring safety, efficiency, and connections to financial markets for sustainable economic growth. Euroclear provides settlement and custody of domestic and cross-border securities for bonds, equities and derivatives, and investment funds. As a proven, resilient capital market infrastructure, Euroclear is committed to delivering risk-mitigation, automation, and efficiency at scale for its global client franchise. The Euroclear group comprises Euroclear Bank, the International and Irish CSD, as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden and Euroclear UK & International.

[1] Excluding Russian assets impacts.

[2] Post deduction of dividend relating to 2023 earnings, including 2024 underlying profit and based on estimated underlying RWA of around €7.5 billion. Taking into account a 60% dividend pay-out on the 2024 adjusted underlying profit, the CET1 ratio is 51%.

 

Euroclear
Euroclear

 

Annexes
Annexes

 

Cash balances related to Russian sanctions
Cash balances related to Russian sanctions

 

“Business as usual” cash balances
“Business as usual” cash balances

 

Unaudited figures (in € million) as of 31 December 2024
Unaudited figures (in € million) as of 31 December 2024

 

Unaudited figures (in € million) as of 31 December 2024
Unaudited figures (in € million) as of 31 December 2024

 

Ericsson appoints Charlotte Levert as Chief People Officer

  • Effective as of February 10, 2025
  • Becomes member of Ericsson’s Executive Team, reporting to the CEO

STOCKHOLM, Feb. 5, 2025 /PRNewswire/ — Ericsson (NASDAQ: ERIC) today announces the appointment of Charlotte Levert as its new Chief People Officer, Senior Vice President, and Head of Group Function People. Charlotte Levert who is currently Vice President and Head of People Business Area Cloud and Software Services will replace MajBritt Arfert, whose departure Ericsson announced in October 2024. Charlotte Levert will take up her new position on February 10 and will be based in Sweden.

Charlotte Levert has held executive positions within Ericsson across several business areas. She has most recently held the position of Head of People Business Area Managed Services. Before joining Ericsson, Charlotte Levert was Head of HR Sweden & Global HR business partner at Tieto and has held various senior management positions within human resources. She holds a Bachelor in Business Management & Human Resources.

Börje Ekholm, President and CEO of Ericsson, says: “Charlotte will be an integral part as we are entering the next chapter of Ericsson’s strategy and in the continued evolution of the People agenda. She brings a strong track record from different organizations including different parts of Ericsson and I’m very much looking forward to having Charlotte join the Executive Team.”

Commenting on the appointment, Charlotte Levert says: “I am truly honored to take on this role and grateful for the trust. Working at Ericsson means we all get the chance to be part of shaping the future. I am looking forward to co-creating a future-proof organization and where Ericsson remains a great place to work.”

In October 2024 Ericsson announced that MajBritt Arfert would step down after having been with Ericsson for over 38 years and a member of the Company’s Executive Team since the autumn of 2016. MajBritt Arfert will be available for Ericsson during the spring and leave Ericsson at the end of May 2025.

NOTES TO EDITORS:

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MORE INFORMATION AT:
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ABOUT ERICSSON:
Ericsson’s high-performing networks provide connectivity for billions of people every day. For nearly 150 years, we’ve been pioneers in creating technology for communication. We offer mobile communication and connectivity solutions for service providers and enterprises. Together with our customers and partners, we make the digital world of tomorrow a reality. www.ericsson.com

This information was brought to you by Cision http://news.cision.com

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Ericsson appoints Charlotte Levert as Chief People Officer

Laos Records Over 6,700 Road Accidents in 2024

Laos Records Over 6,700 Road Accidents in 2024
An accident that took place in October 2024 which saw seven vehicles collided (photo credit: Target Magazine)

Road accidents in Laos remain a major concern, with 6,789 cases reported nationwide in 2024, according to the Traffic Police Department. 

Riding the Wave: Businesses and Investors Set Their Sights on ASEAN’s Blue Economy

JAKARTA, Indonesia, Feb. 5, 2025 /PRNewswire/ — As global business communities place greater emphasis on sustainability, the potential of ASEAN’s blue economy offers a renewed opportunity for forward-thinking businesses and investors. The ASEAN Blue Innovation Expo and Business Matching, set for 19 February 2025 at Menara Mandiri Jakarta, will convene startups, businesses, investors, policymakers, and development partners to explore cutting-edge innovations from ASEAN and Timor-Leste. From digitally driven aquaculture to biotechnologies, plastic alternatives, and blue carbon conservation, the event will showcase ventures that drive sustainable economic growth while protecting marine and freshwater ecosystems.

ASEAN Blue Economy Innovation Expo and Business Matching
ASEAN Blue Economy Innovation Expo and Business Matching

Unlocking Investment for Blue Economy

This event marks the highlight of the ASEAN Blue Economy Innovation (ABEI) Project initiated by UNDP Indonesia, ASEAN Secretariat and Permanent Mission of Japan in ASEAN, funded by the Government of Japan. Aligned with the ASEAN Blue Economy Framework, adopted in 2023, the project aims to drive the sustainable use of ocean and inland water resources for inclusive growth across ASEAN and Timor-Leste.

As coastal communities across ASEAN and Timor-Leste wrestle with rising sea levels and overfishing threatens global food supplies, the need for innovative solutions has never been more urgent. Investors and established business communities have a unique opportunity to be part of this transformative journey.

Innovative Solutions from Across ASEAN

The Expo will feature 60 innovations from startups, MSMEs, NGOs, and academic institutions, selected from over 1,300 applications, who are developing solutions in four key areas, such as sustainable fisheries and aquaculture, plastic pollution, climate issues, and sustainable tourism. In addition to the highlight of 60 pitching sessions, the event features inspirational talks and panel discussions led by leading impact investors and blue business leaders in the ASEAN countries.

Why Now?

The blue economy presents new paradigm for the role of ocean. By 2030, its contribution to the global economy is projected to reach $3 trillion, generating 43 million jobs, with it playing a key role in driving inclusive growth in ASEAN. With ASEAN countries’ increasing interests on food security, carbon neutrality, and zero plastic waste, alongside accelerating digitalization and AI, the time is ripe to focus on the blue economy’s potential. Participants in this event will gain insights into the forefront of this high-potential sector, helping shape the future of sustainable marine and freshwater economies in ASEAN.

Secure your spot now and be part of the future of blue innovation! Register here: https://www.undp.org/indonesia/asean-blue-innovation-challenge.

Contact
nabilla.rahmani@undp.org

FBS Launches AI Assistant for Confident Trading


SINGAPORE – Media OutReach Newswire – 5 February 2025 – FBS, a leading global broker, introduces FBS AI Assistant, a next-generation tool designed to support traders in making informed decisions. This AI-powered feature analyzes instrument charts in seconds, providing real-time insights based on price trends, patterns, and key market signals.

FBS AI Assistant
FBS AI Assistant

FBS AI Assistant simplifies complex data, transforming complicated chart patterns into clear, easy-to-read reports. By leveraging AI-driven insights, traders can validate their strategies, minimize human error, and make informed decisions faster.

The feature scans charts using key indicators and timeframes, delivering a fresh perspective that can confirm or challenge a trader’s analysis. Additionally, it suggests trade ideas that can be executed with a single click, enabling users to act swiftly in dynamic market conditions*.

How FBS AI Assistant supports traders:

  • Instant chart analysis: Identifies trends, patterns, and signals in seconds.
  • Simplified insights: Turns complex data into structured, easy-to-understand reports.
  • Efficiency & accuracy: Reduces human error and saves time for decision making.
  • Actionable trade ideas: Suggests potential opportunities with a one-click execution option.

As the future of trading evolves, FBS remains committed to equipping traders with cutting-edge tools that enhance their experience. Trade smarter with FBS AI Assistant and stay ahead in the market.

For more details, visit FBS.com.

*Disclaimer: AI-generated analysis is not financial advice. Always conduct your own research before trading.
Hashtag: #FBS #trading #forex #AI




The issuer is solely responsible for the content of this announcement.

About FBS

FBS is a global brand that unites several independent brokerage companies under the licenses of FSC (Belize), CySEC (Cyprus), and ASIC (Australia). With 15 years of experience and over 100 international awards, FBS is steadily developing as one of the market’s most trusted brokers. Today, FBS serves over 27 000 000 traders and more than 700 000 partners around the globe.

NX Taiwan’s Kaohsiung Branch Honored as Excellent Japanese Company on “Kaohsiung Harmony Day 2024”

TOKYO, Feb. 5, 2025 /PRNewswire/ — The Kaohsiung Branch of Nippon Express (Taiwan) Co., Ltd. (hereinafter “NX Taiwan”), a group company of NIPPON EXPRESS HOLDINGS, INC., received an award recognizing it as an excellent Japanese company during “Kaohsiung Harmony Day 2024” celebrations held on Thursday, December 19, 2024.

NX Logo: https://kyodonewsprwire.jp/img/202501223192-O3-C1SDSWOv

Chairman Masaru Kawamoto receiving award from Kaohsiung deputy mayor: https://cdn.kyodonewsprwire.jp/prwfile/release/M103866/202501223192/_prw_PI2fl_5yY3xwx8.png

Chairman Kawamoto presenting speech: https://cdn.kyodonewsprwire.jp/prwfile/release/M103866/202501223192/_prw_PI1fl_TU3NzqDs.png

“Kaohsiung Harmony Day,” an event sponsored by the Kaohsiung City Government’s Economic Development Bureau, was established in 2010 to acknowledge Japanese companies that have made significant contributions to Kaohsiung’s economic development. This time’s event — the 15th — honored eight companies, including NX Taiwan’s Kaohsiung Branch.

Home to Taiwan’s largest container port, Kaohsiung serves as an important hub for international logistics. NX Taiwan’s Kaohsiung Branch provides logistics services to companies in such fields as semiconductors, electronics and precision equipment, and it celebrated its 20th anniversary in 2024. The Kaohsiung Branch was honored for its contributions to Kaohsiung’s economic development and for its successful efforts to work in closer cooperation with the local community. NX Taiwan and its Kaohsiung Branch will continue to team up with a variety of industries to support customers’ logistics in the spirit of its corporate message “We Find the Way.”

The NX Group will be further expanding its logistics functions in Taiwan as well as its international transport services that utilize the Group’s global network to help customers enhance their business activities and thereby realize its long-term vision of becoming a logistics company with a strong presence in the global market.

About the NX Group:
https://kyodonewsprwire.jp/attach/202501223192-O1-dTJDS45T.pdf

NX Group official website: https://www.nipponexpress.com/
NX Group’s official LinkedIn account: https://www.linkedin.com/company/nippon-express-group/

KERRY HEALTH AND NUTRITION INSTITUTE SPOTLIGHTS KEY HEALTH AND NUTRITION TRENDS IN SOUTHEAST ASIA AT LIVE EVENT IN SINGAPORE

SINGAPORE , Feb. 5, 2025 /PRNewswire/ — Healthy ageing and longevity, women’s health, accessible nutrition, and sodium reduction were the highlights of a panel discussion at the first Kerry Health and Nutrition Institute (KHNI) event in Singapore.

Kerry Group CEO Edmond Scanlon (second from right) and Peter Dillane, President & CEO of Kerry APMEA (first from left) with the Kerry team and industry experts at The Future of Sustainable Nutrition event
Kerry Group CEO Edmond Scanlon (second from right) and Peter Dillane, President & CEO of Kerry APMEA (first from left) with the Kerry team and industry experts at The Future of Sustainable Nutrition event

The Future of Sustainable Nutrition event marked KHNI’s 10th anniversary, and explored cutting-edge research, leading technology, and consumer behaviour forecast that will influence food innovation in the region.

The panel included Kerry Group CEO Edmond Scanlon, KHNI’s Dr Aoife Marie Murphy, and Simon Hague, foodservice chains general manager, Kerry Southeast Asia. Joining the Kerry team were Dr Kalpana Bhaskaran, President of the Singapore Nutrition and Dietetics Association; Angelia Teo, futurist; and Oliver Truesdale-Jutras, Chair of Singapore’s F&B Sustainability Council and Founder of Re:Growth, a regenerative hospitality consultancy.

The discussion focused on KHNI’s Ten Key Health and Nutrition Trends for 2025 relevant to Southeast Asia.   

  • Accessible Nutrition: Commented Edmond Scanlon, Kerry Group CEO: “Consumers trust the food system. It is our responsibility to ensure what is in a product is good for them. Accessible nutrition should balance five pillars – convenience, nutrition, sustainability, cost, and taste. If a food item cannot be offered to the mass market, that is not accessible nutrition.”
    However, with 75% of global food coming from just 12 plants and 5 animals[1], a single disease could wipe out a fifth of our food supply, said Oliver Truesdale-Jutras.
  • Healthy Ageing & Longevity: By 2030, 32% of Asia Pacific’s population will be over 50[2]. Quality of life is vital. After age 30 comes a loss of 5%-8% of muscle mass per decade. Compact, protein-rich foods for older adults and exercise are necessary to counter muscle loss, said Dr Aoife Marie Murphy.
  • Women’s Health: Some 80% of women in menopause will experience hot flushes, mood swings and memory loss[3]. Eating right is key, said Dr Aoife Marie Murphy. “Women must be educated on the direct impact diet plays in wellbeing.” Minerals like calcium and magnesium are also essential. “If you don’t deposit right amounts of calcium, the body will plateau. Women must build bone health early,” stressed Dr Kalpana Bhaskaran.
  • Sodium Reduction: Excessive sodium leads to hypertension and cardiovascular diseases, contributing to 1.89 million diet-related deaths annually[4]. Angelia Teo observed: “In today’s era of simulation, can food companies simulate salt satisfaction, rethink how to enhance the sensory experience of food for consumers, without using salt?”

Post discussion, the event continued at Kerry’s Regional Technology and Innovation Centre, where guests sampled food and beverage concepts incorporating Kerry technologies such as Citrus and Cocoa Replacers, Tastesense™, and Proactive Health solutions, designed to enhance taste and nutrition to meet demand for delicious, healthier, more sustainable food options.

“As Southeast Asia emerges as a food innovation hub, KHNI’s commitment to advancing nutrition science and innovation will pave the next chapter in sustainable food solutions, helping Kerry deliver positive impact and sustainable nutrition to people everywhere,” said Mervyn Gribben, Vice President & General Manager, Kerry Southeast Asia.

ASSEMBLY APPOINTS KAREN HO AS MANAGING DIRECTOR OF GREATER CHINA TO SPEARHEAD GROWTH IN THE REGION

Ho will oversee the growth and client development of the agency’s business across Mainland China, Hong Kong, and Taiwan.

HONG KONG, Feb. 5, 2025 /PRNewswire/ — Global omnichannel media agency Assembly has announced the appointment of Karen Ho to the newly created role of Managing Director, Greater China, underscoring its commitment to accelerating growth in the dynamic region.

Karen Ho, Managing Director, Greater China, Assembly
Karen Ho, Managing Director, Greater China, Assembly

In her new role, Ho will spearhead Assembly’s evolution in Greater China, leading growth for clients operating or investing in the region. Ho will lead efforts to enhance product, talent, and technology innovation across the agency’s offices in Mainland China, Hong Kong, and Taiwan, ensuring they are built to deliver client impact. Additionally, Ho will strengthen cross-market collaboration and develop connected solutions to better support clients’ local and international ambitions. Ho will oversee key client relationships in Greater China, including Mandarin Oriental Hotel Group, APM Monaco, Clarins, American Eagle Outfitters, and more.

With over two decades of industry experience, Ho has demonstrated a strong ability to drive growth and deliver results. Formerly at Initiative China, she oversaw significant market growth, working with major clients such as Volkswagen Group China, Bridgestone, and GM Ultium. Her leadership contributed to the agency receiving several industry awards, including Agency of the Year. Known for her skill in building effective teams and achieving measurable outcomes, Ho is well-prepared to guide Assembly in its next stage of expansion.

“Karen is a visionary leader with unparalleled market insights and a true appetite to build,” said Richard Brosgill, APAC CEO of Assembly. “Her leadership will be pivotal as we invest strategically into the Greater China region and look ahead to a new chapter of growth as we continue to deliver campaigns that drive both brand and business impact.”

This appointment reflects Assembly’s broader ambition to strengthen its leadership in APAC and deliver tailored solutions that meet the unique demands of the region’s markets. Following the elevation of Assembly’s Vivian Mok to Managing Director of North Asia, Ho’s addition reinforces the agency’s focus on deepening in-market expertise and driving innovation across APAC’s subregions.

“I have long admired Assembly for its bold approach to innovation and commitment to excellence,” commented Ho. “I resonate deeply with the agency’s proposition to Find the Change to Fuel Growth, something I have been committed to fulfilling throughout my career.  I’m energized to partner with their talented teams and clients to unlock new growth opportunities in this diverse and fast-evolving region and drive our next chapter of growth across this diverse and dynamic Greater China region.”

ABOUT ASSEMBLY  

Assembly is a leading global omnichannel media agency that merges data, talent, and technology to catalyze growth for the world’s most esteemed brands. Our holistic approach weaves together compelling brand narratives with a comprehensive suite of global media capabilities, driving performance and fostering significant business expansion. Our initiatives are powered by STAGE, our proprietary operating system, and executed by a dedicated global team of over 2,300 professionals across 35 offices worldwide. Committed to purposeful action, Assembly leads the way in social and environmental impact within the agency realm. As a proud member of Stagwell, the challenger network designed to revolutionize marketing, Assembly continues to set new standards of excellence. For more information, please visit assemblyglobal.com.  

MEDIA CONTACT
Kelvin Lee,
Marketing Director, APAC
kelvin.lee@assemblyglobal.com