The private banking hiring market picked up in July, with J.P. Morgan Private Bank emerging as one of the most discussed names among headhunters in APAC.
Key industry hires in July include Francis Liu, former CEO, private clients, Asia at Lombard Odier, joining Nomura International Wealth Management as North Asia head, succeeding Rudolf Hitsch. BNP Paribas Wealth Management appointed two Southeast Asia market heads, nabbing Sean Tay, UOB’s market head for Malaysia, to work alongside internal appointee Sharon Loh.
As for departures, investment specialists George Lam, head of discretionary, funds and ETFs, Southeast Asia; Kah Yi Chung, head of alternative investments, Southeast Asia for Investments and Wealth Solutions; and Suzanna Wong, Hong Kong head of funds and discretionary specialists, Investments and Wealth Solutions, all left HSBC. Meanwhile, Bank of Singapore’s Malaysia market head and senior business advisor for Wealth Management Malaysia, Kenneth Tan, parted ways with the lender.
How Significant is J.P. Morgan PB’s hiring spree?
In 1H25, J.P. Morgan Private Bank hired a notable number of senior bankers, making it one of the most actively hiring banks in Asia’s private banking industry so far this year.
Hires by J. P. Morgan Private Bank in 2025 (as of 31 July)
| Name | Title | Previous firm | Previous title | Based-in |
|---|---|---|---|---|
| Faye Ong | head of philanthropy centre for Singapore and Southeast Asia | Citi | Asia head of family office advisory | Singapore |
| Eric Yee | executive director, team lead | HSBC | Singapore market desk head | Singapore |
| Wayne Bowers | managing director and head of institutional investment solutions Asia | Alpha Bagel Corporation | CEO | Hong Kong |
| Vincent Tang | executive director | Julius Baer | Southeast Asia team leader | Singapore |
| Carrie Tang | managing director and wealth advisor, China team | PwC | China private market lead partner, tax and business advisory services | Hong Kong |
| Luke Yang | executive director, Taiwan team | Citi | director and team head | Hong Kong |
| Chien-Lun (Alex) Lo | executive director | Taipei Fubon Commercial Bank | senior vice president | Singapore |
| Clement Tse | managing director, market head of investment and advisory | Citi | managing director and head of investment counsellor team | Hong Kong |
| Jean Chen | executive director and team leader, Taiwan team | UBS | executive director | Hong Kong |
| Fionn Lo | managing director and team lead, Hong Kong market | Deutsche Bank | managing director and market head of Hong Kong investment managers | Hong Kong |
| Christine Wong | executive director and banker, China market | HSBC | N/A | Hong Kong |
| Winnie Huang | vice president | HSBC | vice president | Australia |
| Hilary Yung | lending advisor | Pictet | senior credit structurer | Hong Kong |
| Daniel Han | vice president | Hang Seng Bank | senior vice president | Hong Kong |
| Willis Wu | vice president | N/A | N/A | Hong Kong |
| Constance Liu | private banker | Citi | private banker | Hong Kong |
| Xi Shi | executive director | N/A | N/A | Hong Kong |
| Daniel Liu | vice president | Standard Chartered | private banker | Singapore |
| James Pickford | vice president | Twynam | head of investor relations | Hong Kong |
| Netty Tan | vice president | N/A | N/A | Singapore |
| Su Wei Tan | vice president | HSBC | associate director | Singapore |
| Cecilia Ding | vice president | HSBC | associate director | Hong Kong |
In 2024, J.P. Morgan Private Bank grew its relationship manager (RM) headcount in Asia by 35%, or 86 RMs, to 330, making it the bank with the second-largest headcount jump after Standard Chartered’s 38% growth, according to APB‘s Asia 2024 League Tables. J.P. Morgan Private Bank grew its assets under management (AUM) by 26% to US$213 billion in 2024, behind Standard Chartered’s 57% and Maybank Private’s 34%.
Compared to J.P. Morgan Private Bank’s hiring in the past, the bank’s RM headcount and AUM growth in the region for 2024 stood out.
How is J.P. Morgan PB attracting talent?
Hoping to replicate its 2024 success, headhunters in the region told APB that J.P. Morgan Private Bank has substantially upped its hiring budget and target with a competitive package.
Team heads in the industry can earn an average of US$608,394 in Hong Kong and US$511,567 in Singapore after their bonus, 31% and 35% higher than the lower senior relationship manager tier, according to APB‘s Relationship Manager Compensation Report 2024. However, headhunters said that J.P. Morgan Private Bank has been offering packages so highly competitive that team heads at higher levels are willing to join the bank solely as producer-type bankers.
RBC WM continues to hire
RBC Wealth Management (RBC WM) has been actively hiring since September 2023. The bank continued to add to its Singapore and Hong Kong team in July, with prominent names including Low Keow Teck, former North Asia market head at UOB Private Bank, and Flora Kam, an ex-Greater China ultra high net worth banker for Credit Suisse, joining as executive directors.
Hires by RBC Wealth Management Asia hires since September 2023 (as of 31 July)
| Name | Title | Previous firm | Previous title | Based-in |
|---|---|---|---|---|
| Wilson Khoo | managing director | Citi | N/A | Singapore |
| Christopher Chin | executive director | Julius Baer | executive director | Singapore |
| Low Keow Teck | executive director | UOB | North Asia market head | Singapore |
| Flora Kam | executive director | UBP | senior relationship manager | Hong Kong |
| Ince Pan | executive director | DSG Group | founding partner | Hong Kong |
| Mark Chan | executive director | Morgan Stanley | N/A | Hong Kong |
| Becky Chu | managing director | Credit Suisse | executive director | Hong Kong |
| Grace Yu | managing director | UBS | executive director | Hong Kong |
| Ingrid Lau | managing director | Credit Suisse | N/A | Hong Kong |
| Angie Chow | executive director | HSBC | N/A | Hong Kong |
| Erica Cheung | executive director | BNP Paribas | N/A | Hong Kong |
| Roger Kiu | executive director | J. Safra Sarasin | senior director | Hong Kong |
| Jessie Heng | managing director, team head | Julius Baer | cluster head for Southeast Asia | Singapore |
| Moses Seow | executive director | Lombard Odier | executive director and team head for Greater China | Singapore |
| Derrick Yong | director | VP Bank | N/A | Singapore |
| Eng Huat Thio | director | Julius Baer | N/A | Singapore |
| Daniel Soo | managing director and market head | Credit Suisse | managing director | Singapore |
| Lawrence Yap | executive director | Credit Suisse | N/A | Singapore |
| Ada Wang | executive director | Credit Suisse | director | Hong Kong |
| Christy Yuan | executive director | Credit Suisse | director | Hong Kong |
| Danny Zhao | director | Credit Suisse | director | Hong Kong |
| Sarah Tan | executive director | EFG | executive director | Hong Kong |
| Joe Lau | team head | Credit Suisse | Hong Kong Greater China team leader | Hong Kong |
| Kenny Ng | managing director, team head | Credit Suisse | director, cluster head | Hong Kong |
| Charles Hsu | managing director | Credit Suisse | cluster head, executive director | Singapore |
| Denise Toh | managing director | Credit Suisse | senior RM, executive director, Greater China market | Singapore |
| Cheryl Ang | executive director | Credit Suisse | executive director, Greater China market | Singapore |
This continues RBC WM’s three-to-four-year strategic plan initiated in March 2024 to grow its business organically by increasing the number of RMs on its platform.
“One of the things that we have noticed from some of the recent hirings is that we are getting access to good people on the platform, and we are also raising the bar for our existing relationship managers,” Rod Ireland, Asia head of RBC WM, told APB in a previous interview.