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Singapore-based IAM taps private banking veteran as CEO for new Hong Kong shop

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Singapore-headquartered asset manager Paragon Capital Management (PCM), which runs over S$1 billion in AUM, has opened a new office in Hong Kong targeting North Asia wealth.

The new Hong Kong shop, Paragon Capital Management (HK) Private Limited (PCMHK), has appointed private banking veteran Arthur Fong as CEO and Faye Ng as COO, the firm said in a recent statement. The duo will help to expand into the North Asia market leveraging PCM’s research-driven suite of products.

Arthur Fong, PCM

Fong has over three decades of experience in private banking in Singapore and is an Institute of Banking and Finance (IBF) fellow. Fong’s career also included three terms as an elected member of the Singapore Parliament from 2001 to 2015.

He has worked in multiple senior roles at top-tier banks including Citi Private Bank, UBS, Credit Suisse and Bank of Singapore. Fong’s last private banking role was as deputy Singapore location head for Bank of Singapore’s Greater China business. He later worked for Schroders Wealth Management as a managing director between 2017 to 2022.

Ng has over 15 years of private banking experience in Hong Kong and Singapore covering boutique banks. She has worked at VP Bank, Pictet and Julius Baer in Hong Kong and Singapore.

PCMHK will deliver its research-driven investment insights to sophisticated clients and professional investors through its bespoke services, the firm said. PCMHK will also provide family succession planning, private markets and corporate advisory services.

“By leveraging Hong Kong’s established financial networks, its reputation as a global financial hub, and its super-connector status, we can enhance our competitive edge by aligning with top global financial institutions, leading to potential collaborations, partnerships, and innovation opportunities for the benefit of our North Asian clients. This will bolster our capability to offer exceptional wealth management services to our clients across the Asia Pacific region,” Paul Lee, CEO and CIO of PCM commented.

PCM Singapore told Asian Private Banker earlier this year that rather than relying heavily on retrocessions, the firm had been finding success with its discretionary-based business model.

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