BlackRock, the world's largest asset manager, has appointed two new executives to its Asia team, with Dennis Quah taking on the role of Singapore Wealth head and Mandy Lui becoming head of Greater China Wealth. Quah will focus on building partnerships with insurers, consumer banks, and private banks, while Lui will lead the department from Hong Kong.

The appointments come as BlackRock awaits approval for the United States' first spot Bitcoin ETF, with many speculating that the SEC will eventually approve it despite initial rejection due to minor application errors. However, BlackRock faces turnover and controversy, including the recent hiring of Amin Nasser from oil titan Saudi Aramco, which puzzled some as BlackRock has been at the forefront of ethical investing.