14 July 2017 |

UOB names new Hong Kong private banking head

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UOB Private Bank has created and filled the new role of Hong Kong head, Asian Private Banker has learnt.

Jessica Wai assumed the role last week. She reports directly to Ong Yeng Fang, UOB managing director and head of private banking.

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A spokesperson for the bank declined to comment on Wai’s appointment.

Wai was most recently general manager at Bank of Communications’ private bank in Hong Kong. Prior to this position, she was deputy private banking head at China Construction Bank (Asia) from 2012 to 2013. Wai, who joined CCB Asia in 2008, has also worked at HSBC Private Bank and CITIC.

In an exclusive conversation with Asian Private Banker earlier this year, Ong said that UOB was “working on expanding” its presence in Hong Kong and Singapore.

“Greater China is important for us and we aim to triple our clients from there by end-2019,” she said.

Ong said that between 2014 and 2016, the private bank grew its AUM by 50%, with clients’ investment activities doubling over the same period.

When asked if she was comfortable with the scale of the private bank, she said that while she was “cautious” about acquisitions, she believed that the bank would grow “in a much bigger way”.

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