Standard Chartered Private Bank is expanding its ultra high net worth (UHNW) platform, with Greater China relationship manager (RM) headcount on track to rise by 25% to 30% this year. Peter Tung told Asian Private Banker that a counter-cyclical hiring strategy initiated during the 2022 market downturn has helped the bank attract talent from rival institutions as it seeks to […]

The post StanChart PB’s Peter Tung on track for 30% RM headcount growth appeared first on Asian Private Banker.

In a bold departure from its previous focus on South and Southeast Asia, Liechtenstein pure-play LGT raided Chinese securities firm China Merchants Bank International (CMBI) for a team of private wealth professionals in Hong Kong last month. The move underscores an intensifying Asian talent war, in which global firms are increasingly hunting within Chinese institutions to secure critical onshore experience. […]

The post Movers & Shakers: LGT’s CMBI raid signals intensifying battle for Greater China talent appeared first on Asian Private Banker.

Raffles Family Office has hired two wealth planning heads for Greater China and Southeast Asia.  Based in Hong Kong, Daniel Lai has joined the US$2 billion AUM multi-family office firm as an executive director, head of wealth planning, Greater China. Lai began his role today, according to an internal memo seen by Asian Private Banker. He will focus on cross-border […]

The post Raffles Family Office hires wealth planning heads in Hong Kong, Singapore appeared first on Asian Private Banker.

Indosuez Wealth Management (Indosuez WM) made three new appointments from Bank of Singapore to strengthen its China coverage in Singapore, according to a statement on Monday. Eddie Chng has been appointed as a managing director and market leader, China. Chng previously held roles at Bank of Singapore, LGT Private Banking, Morgan Stanley and DBS Bank. He will report to Ong […]

The post Indosuez WM expands China coverage with trio from Bank of Singapore appeared first on Asian Private Banker.

Bank of Singapore is seeking to strengthen its Greater China coverage by hiring two industry veterans in Hong Kong, according to a statement on Tuesday. The Singaporean lender also said it has already surpassed its Hong Kong AUM target for 2024-2026. Che Yan and Hank Chen have both joined Bank of Singapore’s Hong Kong branch as senior relationship managers under […]

The post Bank of Singapore hires two senior Greater China RMs in Hong Kong appeared first on Asian Private Banker.

Bank of Singapore has reported strong growth momentum in Hong Kong in the first quarter of 2025, contrasting with the moderate Asia AUM growth seen throughout 2024. Data from APB Insights for 2024 show that Bank of Singapore’s Asia AUM increased by just 6.9% that year, up from US$116 billion to US$124 billion. Despite the increase and a much-publicised hiring […]

The post Bank of Singapore’s Hong Kong UHNW AUM surges 54% YoY as growth targets remain “on track” appeared first on Asian Private Banker.

Having hired over 100 bankers since 2022 and seen a 25% increase in AUM, UOB’s head of private wealth, Chew Mun Yew, is not done yet. He is looking to push the bank’s AUM and RM headcount even higher with an ambitious five-year plan amid fierce competition in the Lion City. While still lagging behind its Singaporean peers DBS and […]

The post How Chew Mun Yew plans to double UOB PW’s AUM by 2026 appeared first on Asian Private Banker.

Julius Baer has appointed a new group head for Greater China Singapore to strengthen its private banking presence in the region, Asian Private Banker has learned. Benjamin Sim, who joined the Swiss private bank in 2016, will assume the role from 1 June, based in Singapore, according to an internal memo. He will report to Yee Kim Tan, the market […]

The post Julius Baer has new group head for Greater China Singapore appeared first on Asian Private Banker.

Chinese investment bank CITIC Securities Wealth Management (HK) (CITICS WMHK), which has traditionally focused on equity brokerage and transactional services, has been pushing further into wealth management and is looking to hire more fund specialists to serve its U/HNW clients. When Matthew Chan, head of product and investment solutions, joined the bank in 2018 its wealth management business was still […]

The post How CITIC Securities broke into wealth management appeared first on Asian Private Banker.

Credit Suisse has hired a former investment banker to join the Greater China wealth management team. The hire comes amid concerns for the future of private banking talent at the Swiss bank due to the ongoing merger with UBS. However, UBS has indicated its intention to hang on to Credit Suisse’s top private banking talent. Matt Jin joined the bank […]

The post Credit Suisse hires IB talent for Greater China wealth management appeared first on Asian Private Banker.

Another Hong Kong-based Greater China banker will soon depart Credit Suisse, Asian Private Banker can reveal. Philip Cheung, executive director and Greater China team leader, has recently resigned from the bank along with two of his relationship managers, people familiar with the matter told Asian Private Banker.  Cheung joined Credit Suisse in 2011 and has held various senior roles. Before […]

The post Another Greater China banker resigns from Credit Suisse appeared first on Asian Private Banker.

DBS Private Bank (DBS PB) sees promise in Greater China, with this business seeing net new money bounce back to above pre-pandemic levels, according to Carol Wu, head of Private Banking, Greater China, DBS. “The business for DBS in [Greater China] is actually quite promising,” Wu told Asian Private Banker, explaining that despite the impact of COVID-19 in this region last […]

The post DBS Private Bank sees promise in Greater China: Carol Wu appeared first on Asian Private Banker.

Credit Suisse has hired a new banker for its Singapore Greater China team, according to an internal note seen by Asian Private Banker.  Based in Singapore, Andy Kuo joined Credit Suisse in February as director for Greater China Singapore Market. He will report under Keng Cheong Lock, market group head for Greater China Singapore and Japan International, Wealth Management (WM) […]

The post Credit Suisse adds banker to Singapore Greater China team appeared first on Asian Private Banker.

After growing its AUM to nearly US$3.5 billion from US$2 billion 18 months ago, Singapore-based IAM Lighthouse Canton is looking to expand its Greater China expertise to tap this growing market. “We have crossed US$3 billion AUM now, and that happened because a lot of clients saw value in what we were doing,” said Shilpi Chowdhary, CEO of Lighthouse Canton. […]

The post Lighthouse Canton: Fast-growing IAM sets sights on Greater China wealth appeared first on Asian Private Banker.

After its recent move to a new office in the Hong Kong Stock Exchange building, Avenue family office (Avenue FO) plans to open a Singapore branch in as early as 1Q2023. Despite market volatility over the past year, the FO has managed to source deals for investors that have generated robust returns. For example, its investment in a  New Zealand […]

The post How one US$1.2bn Hong Kong FO is setting its sights on Singapore appeared first on Asian Private Banker.

Brookfield Oaktree Wealth Solutions hopes the strength of its products in alternatives and infrastructure will help it grab a bigger slice of the Greater China wealth management market. The firm, a joint venture between Brookfield Asset Management and Oaktree Capital Management, provides alternatives solutions across a number of spectrums. Stacie Wang,  head of Greater China, who joined in May this […]

The post Brookfield Oaktree Wealth Solutions wants bigger slice of US$18T China market appeared first on Asian Private Banker.

It takes more than an impending Typhoon 8 warning to stop bankers from coming to Hong Kong after almost three years away. The Hong Kong Monetary Authority is hosting banking’s top figures at the Global Financial Leaders’ Investment Summit this week, which started on Tuesday with a dinner at M+, the art gallery in the West Kowloon Cultural District. The […]

The post It takes more than a typhoon to keep bankers away from Hong Kong’s re-opening appeared first on Asian Private Banker.

Private clients have this year been showing growing interest in rebalancing their portfolios by adding more flexible fixed-income strategies, as well as those focused on differentiated sectors in Chinese equities strategies. “In both Hong Kong and Singapore, flexible and unconstrained fixed-income strategies have received much attention from private banks and retail distributors lately. Previously, they were just looking at a […]

The post Private clients bet on flexible fixed income amid market woe: T. Rowe Price appeared first on Asian Private Banker.

Many a family foundation has been seeking professional advice to achieve better outcomes in their philanthropic endeavours because the COVID-19 pandemic has thwarted so much of their programming efforts. “Of all our projects, 90% failed to meet their [intended] outcome due the pandemic control measures in place in Hong Kong,” said Adrian H C Fu, chairman of Fu Tak Iam […]

The post Family foundations seek out help to counter COVID spanner in their philanthropic works appeared first on Asian Private Banker.

Partners from law firms Charles Russell Speechlys (CRS) and Withersworldwide (Withers) explain Asian clients’ growing awareness of the need for wealth planning and offer their views on the rivalry between Asia’s two main wealth hubs. Hong Kong and Singapore have been wealth management hub rivals for years. The difference in their approach to tackling the COVID-19 has been stark — […]

The post Law firms weigh in on the rivalry between Hong Kong and Singapore appeared first on Asian Private Banker.

China’s household wealth has grown with leaps and bounds over the last 20 years and that could translate into RMB 170 trillion (US$25 trillion) being addressable by wealth managers by 2030, according to Morgan Stanley estimates. Since 3Q21, mainland China’s zero COVID policy has thrown up particular challenges, but that has not stopped some international private banks from beefing up […]

The post Morgan Stanley and Pictet shed light on China growth strategies appeared first on Asian Private Banker.

EY is set to significantly expand its financial services focusing on Greater China as the UK consultancy group seeks to capitalise on the rapid growth of the wealth management industry in the Greater Bay Area (GBA) and beyond. “We have seen growing client demand in the Greater China market and expect to grow tremendously our team size to meet such […]

The post “Strong growth” of wealth management fuels EY’s China expansion plan appeared first on Asian Private Banker.

Bank of Singapore has hired a new team leader for its Greater China push, Asian Private Banker has learned. Based in Singapore, Eddie Chng joined the bank in late April as team head for Greater China and North Asia – Taiwan team. He will report to Dennis Hong, market head for Greater China & North Asia. Chng was most recently […]

The post Bank of Singapore names another Greater China team head appeared first on Asian Private Banker.

Digital trading platform Saxo Markets has named a new head of wealth management for Greater China to advance its digital wealth management business. Based in Hong Kong, Ken Shih will be responsible for building and strengthening Saxo Markets’ wealth management strategies and offerings in the Greater China region. Shih will report to both Manish Prasad, head of asset management for […]

The post Saxo Markets appoints WM head for Greater China appeared first on Asian Private Banker.

Julius Baer on Tuesday announced the appointment of a new group head for Greater China Effective immediately, Christine Soong will help build Julius Baer’s position in Greater China and drive growth in this market. She will remain based in Hong Kong and will report directly to David Shick, head private banking Greater China and branch manager Hong Kong. Soong has […]

The post Julius Baer names new Greater China group head appeared first on Asian Private Banker.

Bank of Singapore has named a new Greater China team head to further expand its North Asia business, Asian Private Banker can reveal. Based in Singapore, Koo Kin Keong (KK) joins the lender from Credit Suisse, reporting to Hu Hong, China market head. In his new role, Koo will lead a team of relationship managers as part of efforts to […]

The post Bank of Singapore hires Greater China team head from Credit Suisse appeared first on Asian Private Banker.

UBP has named a new managing director, Greater China team head to boost its Asia business. Based in Singapore, Victor Suen joined the Swiss pure play earlier this month. He will report to Jonathan Lin, market head for Greater China. In his new role, Suen is responsible for expanding the bank’s greater China client coverage and for providing bespoke advisory […]

The post UBP grows Asia business with new Greater China team head appeared first on Asian Private Banker.

Singapore’s emergence as a centre for the Greater China private banking market is gathering pace on the back of favourable regulations and its proximity to fast growing Southeast Asian countries, sparking a talent war for experienced relationship managers. The Lion City, senior private bankers say, is benefiting from government efforts to lure more family offices and more Chinese businesses using […]

The post Singapore revs up role as Greater China private banking hub, sparks talent war appeared first on Asian Private Banker.

Deutsche Bank Wealth Management has brought in a Singapore-based North Asia group head to grow the Greater China business in the region, Asian Private Banker has learned. Ex-HSBC private banker and market head for Hong Kong Tse Yi Mun has been nabbed by the German lender to become managing director and group head for North Asia. Tse, who has already started […]

The post DB WM drives Greater China growth in Singapore with appointment of North Asia group head appeared first on Asian Private Banker.

The head of Asia wealth management of Morgan Stanley has named “people, technology, regulations” as key concerns for business growth, while expressing optimism that the UHNW client segment will sustain its “secular growth”. One of the “supply-side” challenges faced by the US lender is the difficulty of sourcing quality talents, Vincent Chui shared with Asian Private Banker. “We have to […]

The post “People, technology, regulations” are top concerns: Vincent Chui of Morgan Stanley appeared first on Asian Private Banker.

Greater China market appointments out of Singapore continued hitting headlines in September, but industry optimism was not widespread. Some recruiters are questioning frantic levels of activity not seen in a long time, as tightening compliance requirements and contagion fears from China Evergrande loom large. The consensus was that the Greater China talent pool has remained slim in Singapore, with the […]

The post Movers & Shakers — September 2021 appeared first on Asian Private Banker.

The latest successor to UOB Private Bank’s long-serving Greater China banker Vincent Ming has resigned from the bank, Asian Private Banker can reveal, in the second resignation from the role in two months. Eric Phua, executive director and head of North Asia, UOB Private Bank, has resigned this week, according to sources close to the matter. Phua joined UOB in […]

The post UOB PB loses second market head for North Asia in two months appeared first on Asian Private Banker.

Japanese investment bank Nomura has recruited another 25 private bankers and investment advisors across Hong Kong and Singapore to bulk up its international wealth management (IWM) unit, adding to a slew of appointments it made earlier this year. The bank said it is targeting to grow AUM threefold in the medium term. Ravi Raju, who was hired to lead the […]

The post Nomura IWM hires raft of RMs and ICs, aims to triple AUM in medium term appeared first on Asian Private Banker.

Credit Suisse has extended its North Asia hiring spree with a second market team leader for Greater China Singapore and several senior banker appointments, according to an internal memo seen by Asian Private Banker. Stella Lau has rejoined the bank as market leader for Private Banking Greater China Singapore, effective 23 August. She will be co-leading the team with John […]

The post Credit Suisse makes a slew of senior appointments for North Asia appeared first on Asian Private Banker.

Standard Chartered has hired a senior banker for its Greater China business in Singapore, Asian Private Banker can reveal. Jacky Li will start at the British lender early next month. Asian Private Banker understands that his responsibilities will include leading the bank’s team of Greater China bankers in Singapore to serve high net worth clients. Li was previously executive director, […]

The post StanChart nabs Greater China banker from UBS appeared first on Asian Private Banker.

A Greater China market head has resigned from Bank of Singapore, Asian Private Banker can reveal. Richard Hu, a veteran banker who has worked in the Asia PB industry for over two decades, has resigned from the Singapore lender. Hu was the managing director and founding partner of Avenue Asset Management, an independent wealth manager, before being employed by Bank […]

The post Bank of Singapore Greater China market head resigns appeared first on Asian Private Banker.

Credit Suisse has appointed two veterans to bolster its presence in the Greater China market, according to an internal memo seen by Asian Private Banker. Effective immediately, John Huang has been promoted from team leader to market leader, in recognition of “his strong contribution in growing the franchise”. He will report to Keng Cheong Lock, market group head, Private Banking […]

The post Credit Suisse names new market leader and new team leader for Greater China appeared first on Asian Private Banker.

UBS Global Wealth Management has appointed a returnee as the new direct investment group (DIG) distribution head in Greater China. Edith Chan has been named head of DIG distribution, Greater China, effective on 21 June, according to an internal memo seen by Asian Private Banker. Chan had been with J.P. Morgan since 2018, where she grew its private market business across […]

The post UBS GWM nabs Greater China direct investment distribution head from J.P. Morgan appeared first on Asian Private Banker.

Maybank Private has benefited from the latest inflows of Chinese wealth into Singapore, with this client segment growing 33% in AUM from 2018 to 2020. Alvin Lee, the bank’s head of group wealth management in Singapore, sees the expanding base of Chinese clients as crucial to sustain the rapid growth of the relatively young private bank, and reach the goal […]

The post Maybank Private benefits from Greater China wealth inflows into Singapore appeared first on Asian Private Banker.

Credit Suisse has made a slew of appointments for its Greater China team across the region’s two wealth hubs, including a new Greater China market head based in Singapore. Lock Keng Cheong has been named market group head, Private Banking Greater China Singapore. He will lead the Singapore-based team covering the Greater China market. Lock joined the bank in 2007 […]

The post Credit Suisse’s Greater China team on hiring spree across Hong Kong and Singapore appeared first on Asian Private Banker.

Credit Suisse has appointed a new chief investment officer to oversee its Greater China market, according to an internal memo shared by the bank. Based in Hong Kong, Jack Siu will continue to report to John Woods, chief investment officer, Asia Pacific. In his new role, Siu will focus on developing Credit Suisse’s investment views on Greater China across and […]

The post Credit Suisse appoints new CIO for Greater China appeared first on Asian Private Banker.

Asset manager Barings today announced the appointment of a new institutional distribution head in Greater China and Southeast Asia, effective immediately. Lydia Wu is based in Hong Kong and reports to Jon Millin, head of Asia Pacific distribution. She will be in charge of developing and managing client relationships and raising institutional capital in the two markets. In her new […]

The post Barings appoints new head of institutional distribution to drive APAC growth  appeared first on Asian Private Banker.

The tide is turning for a new generation of PB relationship managers in Asia’s twin financial hubs, with talent being recruited locally in significantly larger numbers than a decade ago. A decade ago — when the industry was on the cusp of rapid expansion — quite a number of private bankers were hired from other parts of the financial services […]

The post More next generation private bankers in Hong Kong and Singapore recruited locally appeared first on Asian Private Banker.

After stalling momentarily on the hiring front last year, private banks in Asia are ready to ramp up activities to meet headcount targets, with many zeroing in on high performers with megabooks. The momentum already showed signs of picking up in 4Q20, and recruiters concurred that private banks were building up the pipeline, even during the worst days of the […]

The post PBs build up hiring pipelines for 2021 but expect fewer openings; bonuses mostly flat appeared first on Asian Private Banker.

While Greater China’s UHNWIs tend to maintain multiple banking relationships to support their activities across jurisdictions, RBC Wealth Management aims to bring these needs under one roof through its “enterprise client” offering. The Canadian lender has identified a high connectivity to Canada, the US, and the UK among its Greater China clients, with the level of global connectivity commensurate with […]

The post RBC WM accentuates UHNWIs’ global connectivity with “enterprise client” offering appeared first on Asian Private Banker.

European asset manager Amundi has made two senior appointments to drive its Greater China business, the firm announced today. Zhong Xiaofeng has been promoted to chairman of Amundi Greater China, based in Hong Kong. He has been with the asset manager since 2011, joining as deputy chief executive officer, sales and marketing. In 2012 he became the CEO for North […]

The post Amundi hires two for Greater China appeared first on Asian Private Banker.

Standard Chartered Private Bank kept its 3Q20 profits in positive territory despite a slight downturn. Greater China and North Asia spearheaded a recovery as business capacities in the region almost returned to levels before the global pandemic hit. Profit turnaround During 3Q20, the British lender’s wealth management business underwent a recovery with a marked 16% YoY increase in income, though […]

The post StanChart PB profit stabilises; Greater China/North Asia almost back to pre-COVID level appeared first on Asian Private Banker.

As OCBC’s 1H20 net profit nosedived YoY, its private bank franchise Bank of Singapore saw its AUM grow modestly. Reporting its earnings for 1H20 on Friday, the Singapore-based financial group stated that it remains focused on strengthening its balance sheet in the current challenging market environment. Overall group net profit plunged 42% YoY to S$1,428 million, although 2Q20 profit was S$730, […]

The post Bank of Singapore 1H20 AUM up slightly appeared first on Asian Private Banker.

DBS has announced the hire of an industry veteran as its new head of private banking for Greater China. Peter Tung is assuming the role from Januar Tjandra, who has retired. He will be responsible for managing and developing the Singapore lender’s private banking business in Hong Kong, Macau, Mainland China and Taiwan, according to the bank’s announcement on Wednesday. […]

The post DBS appoints new Greater China PB head appeared first on Asian Private Banker.

PB hiring activities have been slowly resuscitated in June, according to some recruiters, while the outlook for 2H20 remains mixed. In the meantime, Chinese banks have been tapping into the regional PB playing field, spurring competition, and bankers with a Greater China focus have been getting noticed. “It’s been a very slow year due to the pandemic. However, things have […]

The post Movers & Shakers – June 2020 appeared first on Asian Private Banker.

Bank of Singapore has recorded an AUM growth of 15% YoY, while 4Q19 net profit at its parent group OCBC jumped 34% YoY, according to FY19 results released today. Despite a slight drop in its AUM in Q319, BoS made a leap in 4Q19, growing its AUM from US$110 billion to US$117 billion. The resilient performance was driven by sustained net […]

The post Bank of Singapore AUM expands 15% YoY as OCBC books record full-year profit appeared first on Asian Private Banker.

Citi Private Bank has promoted three managing directors and team heads to global market managers (GMMs) for Mainland China in order to extend its reach to “lesser known and less banked cities”, Asian Private Banker has learnt. Kevin King, previously a team head for China offshore at Citi Private Bank, was promoted to the role of GMM of Southern Mainland China. King […]

The post Citi PB promotes three to spearhead offshore Mainland China business appeared first on Asian Private Banker.

Credit Suisse Private Banking has hired a team leader to bolster its coverage of the Greater China market, Asian Private Banker can reveal. Andrew Wong has rejoined the Swiss bank as team leader this week, reporting to Eddy Sze, managing director and market leader for Greater China. Based in Hong Kong, Wong is tasked with developing the private banking franchise […]

The post Credit Suisse PB adds to Greater China market appeared first on Asian Private Banker.

As the Sino-US trade negotiations linger on, some Mainland Chinese entrepreneurs are considering expanding their business into ASEAN countries to diversify risks and avoid the impact of possible economic sanctions from the US. In an interview with Asian Private Banker, Teresa Lee, Bank of Singapore managing director and market head of Greater China and North Asia, asserted that Bank of […]

The post BoS prepped to capture Chinese HNWIs as they expand to ASEAN appeared first on Asian Private Banker.

Andy Chai, BNP Paribas’ co-CEO for wealth management in Asia, has resigned, Asian Private Banker can reveal. Chai’s decision to step down comes just weeks after he was unveiled as co-leader of the private bank in the region alongside Arnaud Tellier, when former APAC CEO Pierre Vrielinck relocated to Paris to take on a senior management role with the bank. […]

The post BNP Paribas WM’s Asia co-head resigns appeared first on Asian Private Banker.

Deutsche Bank has appointed the head for its China onshore wealth management business, Asian Private Banker can reveal. Jeffrey Peng has joined Deutsche Bank Wealth Management from Bank of Singapore as Shanghai-based managing director and head of China onshore. He is responsible for developing and executing the bank’s onshore expansion strategies and advising on Greater China for Deutsche Bank’s North […]

The post DB WM makes China inroads with hire of onshore head appeared first on Asian Private Banker.

The former head of Industrial Bank’s (CIB) offshore private banking business in Hong Kong and a former UBS Global Wealth Management Taiwan market veteran have joined Standard Chartered Private Bank, Asian Private Banker can reveal. Joseph Tam has joined Standard Chartered PB as a managing director and deputy China market head in Hong Kong, and Jody Meng has joined as Greater […]

The post StanChart PB hires former CIB private banking chief and UBS GWM veteran appeared first on Asian Private Banker.

Gone are the days when Bank of Singapore leaned hard on its ‘pure play’ branding in a market dominated by large integrated lenders. Today, it is at pains to play up its intragroup capabilities — and nowhere more so than in Greater China, where Bank of Singapore as part of the wider OCBC Group, feels it has the most room […]

The post Bank of Singapore sheds ‘pure play’ skin as Tan plots Greater China growth appeared first on Asian Private Banker.

Credit Suisse Private Banking has appointed two veterans to bolster its APAC business, Asian Private Banker can reveal. Shin-Yi Jeng has joined the Swiss lender as team leader for the China market. Based in Hong Kong, Jeng will report to Victor Chao, market leader for China. She brings with her almost two decades of experience in the U/HNW Greater China […]

The post Credit Suisse PB hires two APAC veterans appeared first on Asian Private Banker.

The investment counsellor (IC) lead for Greater China and North Asia at Bank of Singapore has resigned from the bank, Asian Private Banker can reveal. Tom Chen, executive director and IC lead for Greater China and North Asia, is currently serving notice after nearly five years with the Singaporean lender. Asian Private Banker understands that arrangements have been made within Chen’s team to […]

The post IC lead for Greater China and North Asia exits Bank of Singapore appeared first on Asian Private Banker.

As Asia witnesses the largest intergenerational wealth transfer in its history, UBS Global Wealth Management has observed its next-generation clients take a growing interest the financial decisions of their families, according to Francis Liu, regional market manager, UHNW, Greater China at UBS Wealth Management. “60-70% of our next-generation clients are interested in advisory products and solutions because they can get […]

The post Majority of next-gen clients favour advisory: UBS’s Liu appeared first on Asian Private Banker.

Credit Suisse has expanded its wealth planning services in Greater China with the appointment of a senior specialist for family office services Asia Pacific, based in Hong Kong. Tan Mae Shen has been named senior specialist, family office services Asia Pacific, reporting to Thomas Ang, head of family office services Asia Pacific. Tan is vested with the responsibility of providing dedicated […]

The post Credit Suisse expands wealth planning services for Greater China appeared first on Asian Private Banker.

Bank of Singapore has formally confirmed its hire of Richard Hu following Asian Private Banker’s report in January that Hu would join the Singaporean lender from Avenue Asset Management, an independent wealth manager, where he was managing director and founding partner. The Singaporean private bank said today that Hu has joined as market head, Greater China. Armed with more than […]

The post Bank of Singapore confirms Greater China market head appointment appeared first on Asian Private Banker.

Julius Baer has nabbed a market head from Standard Chartered Private Bank to lead its Greater China team, the pure play announced today. Raymond Li has joined Julius Baer as Greater China group head. Based in Hong Kong, Li is tasked with growing and strengthening the lender’s Greater China business. He will report to David Shick, head private banking, Greater […]

The post Julius Baer appoints Greater China head appeared first on Asian Private Banker.

Bank of Singapore hires a new regional market head in a bid to further bolster its Greater China business. Richard Hu will join the bank’s Hong Kong office and is believed to be managing a team of relationship managers, effective March, reporting to Derrick Tan, head of Greater China and North Asia. A spokesperson for the bank declined to comment […]

The post Bank of Singapore adds Greater China regional market head appeared first on Asian Private Banker.

Amid a concerted drive to grow its discretionary assets, EFG is set to bolster the offering by implementing a factor-based framework to enhance risk management. According to Rebekah Chuan, CEO and head of investments for EFG Asset Management (EFGAM) Singapore, the bank is planning to upgrade its discretionary portfolio management (DPM) platform by applying a new semi-quant, factor-based risk management […]

The post EFG to introduce factor-based risk management framework to DPM offering appeared first on Asian Private Banker.

Asia’s private banks, including some “usually quiet” players, have been hiring up a storm with heightened demand in the Greater China market. Beyond the recent flurry of hires seen at regional majors, including Credit Suisse, Julius Baer, and Bank of Singapore, headhunters have told Asian Private Banker that a number of typically less-active banks are also moving to bulk up frontlines, adding to the […]

The post PBs offering 30-45% wage increase as RM talent war intensifies appeared first on Asian Private Banker.

Credit Suisse Private Banking made four senior hires to cover its Greater China market, Asian Private Banker can reveal. Former BNP Paribas Wealth Management heavy-hitter Mary Thio has resurfaced to join Credit Suisse as managing director and expert relationship manager for the Hong Kong market. She brings two decades of private banking experience from Deutsche Bank, HSBC Private Banking and J.P. Morgan. […]

The post Credit Suisse adds four more to Greater China team, including former BNP heavyweight appeared first on Asian Private Banker.

Julius Baer is showing no signs of slowing down its hiring drive for the Greater China market, adding four more ex-UBS bankers, Asian Private Banker can reveal. The most recent addition, Chern Pei Pei, has joined the Swiss pure play as a Singapore-based managing director and senior advisor for the Greater China team. Chen was previously a relationship manager at UBS for over a […]

The post Julius Baer confirms new batch of ex-UBS Greater China bankers appeared first on Asian Private Banker.

The adoption of portfolio management best practices may be on the increase in select Greater China markets – discretionary portfolio management (DPM) penetration rates continue to increase in Hong Kong, and China is witnessing the emergence of an asset management industry – self-directed trading continues to dominate in Taiwan. Taiwan market clients are not yet ready to delegate and product access is […]

The post Taiwan’s mandate business still has a way to go appeared first on Asian Private Banker.

Bill Winters, Standard Chartered’s reform-minded chief since 2015, said he still has faith in Standard Chartered as an ‘aspirational brand’ for Asia’s wealthy. While the broader bank is still not performing under his transformation plan, the StanChart chief said he is counting on the bank’s wealth offering, particularly in the Asian region, as the main driver of growth. This is […]

The post Tarnished? Bill Winters says StanChart is still an ‘aspirational brand’ for Asia’s wealthy appeared first on Asian Private Banker.

Value Partners, the asset management firm, raised US$1.8 billion for its Greater China high yield strategy in 2017. The funding came from private banking clients in Asia amidst investors’ persistent search for yield in a rising but still low-rate environment. The strategy, named ‘Value Partners Greater China High Yield Income Fund’, launched in March 2012. As of the end of January […]

The post Value Partners raises US$1.8 billion for Greater China high yield strategy from PBs appeared first on Asian Private Banker.

Standard Chartered Bank’s private banking arm endured a US$1 million (before tax) loss in 2017 as the bank upped investments in the business. Restructuring efforts, set in motion in 2015, also remain in full swing as the private bank aims to reset its client focus. The lender, which reported its earnings today, said that its push to increase revenues from […]

The post StanChart PB takes US$1m loss under restructuring, new investment drive appeared first on Asian Private Banker.

Credit Suisse has expanded its Greater China wealth managers team with five new hires, Asian Private Banker has learnt. The new hires will be based out of Hong Kong and Singapore, with Windmill Kong, a veteran banker with three decades of experience in covering UHNW and HNW clients, being its most significant grab, according to sources close to the matter. […]

The post Credit Suisse expands Greater China RM team with five hires appeared first on Asian Private Banker.

The Greater China chunk of Credit Suisse APAC’s Wealth Management & Connected (WMC) business “outperformed” in the third quarter and was responsible for a strong third quarter, according to the Swiss bank’s APAC CEO, Helman Sitohang. “Our Greater China business, including private banking, has done quite well,” he told media on an earnings call yesterday. “It’s growing and it’s done […]

The post Greater China key to Credit Suisse’s “strongest third quarter” results: Helman Sitohang appeared first on Asian Private Banker.

Credit Suisse Private Banking has made a string of hires – four in Hong Kong and one in Singapore – to expand its coverage of the Greater China market, Asian Private Banker can reveal. Louis Lau and Daniel Lee have joined the Swiss private bank in Hong Kong from UBS Wealth Management as a senior relationship manager covering the Hong […]

The post Credit Suisse Private Banking hires five for Greater China team appeared first on Asian Private Banker.

Standard Chartered Private Bank has made another addition to its Greater China and North Asia (GCNA) business with the appointment of a Singapore-based managing director, the bank said in a statement today. Michelle Ho has joined the bank as managing director, GCNA. Ho reports to Teddy Kwong, market head for GCNA, and Andrew Ho, market head for South & Southeast […]

The post StanChart PB adds another MD to Greater China and North Asia team appeared first on Asian Private Banker.

UBS Wealth Management’s Amy Lo and Ravi Raju will no longer share leadership duties for the bank’s global UHNW business in the region, with Raju taking over as the sole head of the upper segment in APAC, according to an internal memo penned by Edmund Koh, head of wealth management APAC, and Zurich-based Joe Stadler, head of global UHNW. Meanwhile, […]

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Deutsche Bank Wealth Management has bolstered its Greater China business with the hire of a former UHNW banker from UBS. Terry Tung joins the German lender’s wealth arm as a managing director and team head covering clients in the Greater China region. A spokesperson for the bank confirmed the hire. Tung has 12 years of experience serving UHNW clients, particularly from […]

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Bank of Singapore’s Greater China team head and senior managing director has resigned from his post, Asian Private Banker can reveal. Arthur Fong, who also serves as deputy Singapore location head for Bank of Singapore’s Greater China business, has “tendered his resignation and is currently serving [his] notice [period]”, as confirmed by a spokesperson for the bank. Fong’s colourful career includes three terms […]

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OCBC’s private banking arm, Bank of Singapore, has added three new faces to its Greater China unit, Asian Private Banker can reveal. The Singaporean wealth manager has hired Michael Wei, Sherry Chu and Matthew Clark to its Greater China team, with Wei joining as director and cluster lead, reporting to Oliver Tang, market head for Greater China. Chu joins as a director and […]

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Julius Baer’s Asian rapid expansion continues with the hire of two new Greater China group heads. Edward Chow and Eric Kong join the Swiss pure play’s Hong Kong office, reporting to David Shick, head of private banking, Greater China. A spokesperson for the bank declined to comment on the new hires. This publication first reported Chow’s exit from Bank of […]

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The rumours have been rife, but Asian Private Banker can now reveal that a private banking heavyweight has exited Barclays, and that a replacement has been found.  Vivian Chan, a well-known figure in Asia’s private banking industry with over 30 years of experience servicing the UHNW segment, has left Barclays where she had served as regional head of North Asia since […]

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Family offices in Asia are encountering a variety of pressing issues, stemming from tricky macro-economic conditions to the way these businesses are structured and managed, UBS Wealth Management’s family office experts tell Asian Private Banker. Given the unique structure of many family offices in the region, finding the right staff has proven to be a problem, Philip Higson, vice chairman, global family […]

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The recent sales of Barclays’ Asia wealth business and Coutts International have provided competitors with a window of opportunity to hire aggressively, a number of private banking market heads and recruiters tell Asian Private Banker. “Hiring one relationship manager (RM) after another is too slow in an environment where private banks are already spread so thin,” says one regional market head based […]

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Julius Baer’s group head of Greater China is in the process of exiting the bank, after less than a year with the Swiss pure play, Asian Private Banker has learnt. Richard Hu, having joined Julius Baer’s Asia business in September 2015, is leaving the bank, and is expected to pursue external opportunities, according to insiders. A spokesperson for the bank declined […]

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A former Standard Chartered regional head has resurfaced as the head of private banking at a UAE-headquartered institution, Asian Private Banker can reveal. Rajesh Malkani, erstwhile regional head, private banking clients, MENAP, Africa and South Asia at Standard Chartered, has joined Mashreq Bank as its head of private banking and wealth management, based in Dubai. A veteran of the private […]

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Credit Suisse Private Bank’s relationship manager (RM) headcount in Asia has climbed 19% year-on-year (YOY) to reach 630 at end of the first quarter of 2016, according to the Swiss giant’s quarterly financial report. The latest front-line figure is also an improvement on the bank’s end-of-year total, which stood at 590 in Asia, according to Asian Private Banker’s RM Headcount League […]

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Over the first quarter of 2016, Credit Suisse has added more than 30 private bankers including market group heads to Asia, Asian Private Banker can reveal. Among the new hires are private banking veterans Stella Kong and Carole Cheung, who join the Swiss major as market groups heads for China and the Philippines, respectively. Kong, who boasts a 30-plus year career in […]

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First quarter numbers, as any private bank on the street will tell you, have been less than stellar. A quarter-on-quarter comparison with last year’s numbers paints an even sorrier picture. To be fair, this is largely because the first quarter last year was “gangbusters”, as one banker eloquently put it. “We are operating from a cost-conscious mindset but we continue […]

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A veteran Hong Kong-based private banker has exited Standard Chartered Private Bank to pursue opportunities elsewhere, Asian Private Banker has learnt. According to industry sources, Stella Kong, head of relationship management, China and deputy regional head of private banking for Greater China and North Asia, has left Standard Chartered Private Bank, having first joined the British lender in 2010. A […]

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Vontobel Wealth Management’s Asia Pacific business has added its second ex-CTBC private banker in less than two months, the bank announced today. Joannes Ho has been appointed executive director and senior relationship manager, effective 25 April 2016. In this newly created role, Ho will report to Alex Fung, APAC chief of Vontobel Wealth Management, and will be based in Hong Kong. […]

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Against the backdrop of challenging market conditions and muted client activity, Morgan Stanley’s global wealth management unit registered a drop of 4.3% in revenues for the year ending 2015. The wealth management division of the American lender posted losses across the board. Its net revenues were down 2% in the first quarter of 2016 and 4% year-on-year to US$3.67 billion. […]

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Post-integration, Union Bancaire Privée (UBP) has evidently hit the ground running in Asia with the hire of a new Philippines team head. UBP appoints Ricardo Choi, a former BNP Paribas private banker, as a managing director and team head for the Philippines market, to based in Hong Kong. When contacted, a spokesperson for the bank confirmed the new hire. Choi had […]

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Union Bancaire Privée (UBP), having just completed the transfer of Coutts’ Hong Kong and Singapore businesses, is gunning to increase its headcount with an eye on the Greater China market. Addressing media in Hong Kong today, the Swiss pure play’s CEO private banking, Michel Longhini, identified China as the “key target” post-integration, and plans to build upon links forged by the […]

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A senior relationship manager has resurfaced at DBS Private Bank, two years after leaving BNP Paribas Wealth Management’s Greater China team, Asian Private Banker has learned. Tian Shum has joined the Singaporean lender’s Hong Kong-based team. Shum is believed to be covering the Greater China market once again. A DBS spokesperson bank has confirmed the hire. Shum, also a former Morgan […]

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Pure play Julius Baer has hired a former Citi banker to cover the China market.  Nini Wang has joined the Swiss private bank in Hong Kong as a relationship manager covering China – a market that is increasingly important to Julius Baer’s regional strategy.  Prior to this role, Wang spent over three years with Citi Private Bank, also covering the […]

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High net worth entrepreneurs in Hong Kong are challenging the traditional view of retirement, viewing it as an opportunity to ramp up their businesses rather than wind down, a recent report from UBS Wealth Management reveals. When asked about their plans in retirement, 40% of entrepreneurs in Hong Kong believed they would use their retirement period as an opportunity to […]

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Julius Baer’s chief executive North Asia and deputy head Asia Pacific has retired with immediate effect, with the Swiss bank wasting no time in naming his successor. Kaven Leung, who first joined Julius Baer in 2012 and played an integral part in the integration of the Merrill Lynch International Wealth Management business in Hong Kong, has stepped down. His replacement is David Shick, a […]

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Standard Chartered (StanChart) is launching a new wealth management centre this year in Sheung Shui – the Hong Kong district bordering the mainland – as it targets more Chinese high net worth (HNW) clients. “Retail banking is a huge income pool in the mainland,” Mary Huen, StanChart’s retail banking head for Greater China and North Asia, told local media. “And […]

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