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.

Forget simple wills. For ASEAN ultra high net worth individuals, succession planning has morphed into a multi-jurisdictional arms race where common law trusts and civil law heirship rules run into direct conflict against a backdrop of 11 different legal systems and a combined GDP exceeding US$3.6 trillion. “Succession and transition conversations have become multi-faceted, shaped by asset situs, tax residency, […]

The post J.P Morgan, Indosuez, Julius Baer on Southeast Asia’s $3.6tn wealth puzzle appeared first on Asian Private Banker.

Citi Private Bank has tasked one of its market executives to strengthen its Southeast Asia coverage, Asian Private Banker has learnt. Singapore-based Lillian Liao, who was a market executive for China at the US lender, recently took on additional responsibilities to cover the Malaysia and Singapore markets, sources familiar with the matter told APB. Citi Private Bank confirmed Liao’s appointment covering […]

The post Citi PB strengthens Singapore-Malaysia coverage in regional push appeared first on Asian Private Banker.

Lazard Asset Management (Lazard AM) is targeting wealthy individuals in Southeast Asia and China through local partnerships over a direct distribution model, believing this strategy will enable it to reach a broader client base looking for global diversification. But can the US asset manager’s quant strategies cut through to the region’s private wealth investors? While Lazard AM was historically known […]

The post US$265bn manager bets on local tie-ups to crack SEA, China HNW markets appeared first on Asian Private Banker.

Standard Chartered Private Bank surprised many this year by reporting an astounding 57% increase in assets under management (AUM) in Asian Private Banker’s 2024 Asia league table. However, according to Tian Ong Foo, the best may still lie ahead. In a recent interview with APB, the veteran private banker explained how the emerging markets-focused bank is expanding deeper into Southeast […]

The post “The best is still ahead”: Tian Ong Foo on StanChart PB’s SEA and UHNW push appeared first on Asian Private Banker.

HSBC Global Private Banking (HSBC GPB) has made a series of senior appointments aimed at strengthening its coverage in Southeast Asia and Australia. Joanne Ng will join the bank as desk head for the Singapore team, the bank said in a statement on Tuesday. Based in Singapore, she will lead a team of relationship managers serving high net worth individuals […]

The post HSBC GPB expands SEA and Australia coverage with senior hires appeared first on Asian Private Banker.

A senior private banker has left Swiss pure play UBP after less than two years in the role, Asian Private Banker has learnt. Lawrence Goh, market head for ASEAN at UBP, has recently departed the bank, multiple sources confirmed with APB. Goh joined UBP in late 2023. Previously, he served as the deputy market head for Southeast Asia at Standard […]

The post UBP’s Southeast Asia market head departs in under two years appeared first on Asian Private Banker.

Despite having suffered an outflow of talent in Singapore, BNP Paribas Wealth Management (BNP Paribas WM) is expecting 2024 to be its strongest year ever in the city-state and Southeast Asia. That is according to Garth Bregman, as he marks his first year as head of wealth management Singapore and Southeast Asia. The recent launch of BNP Paribas WM’s Thailand […]

The post BNP Paribas WM’s Bregman lauds “strongest year ever” after taking SE Asia helm appeared first on Asian Private Banker.

HSBC Global Private Banking (HSBC GPB) has lost another Southeast Asia market banker amid the recent departures of SEA market heads, Asian Private Banker can reveal. Thavendran Karthigasu, a senior Indonesia market banker, has recently left the firm, according to people familiar with the matter. Also known as Thaven Karthi, Karthigasu has been with the UK lender in Singapore for […]

The post HSBC Global Private Banking loses another SEA banker appeared first on Asian Private Banker.

When Johanes Oeni joined Deutsche Bank Private Bank (Deutsche Bank PB) last year after close to 22 years with Credit Suisse, many suspected he knew something was going to happen at the Swiss lender. “But I didn’t plan it that way. The pull factor of why I joined the bank is its culture and how resilient the bank is,” Oeni, […]

The post Southeast Asia hires now bearing fruit: Johanes Oeni shares first year at Deutsche Bank PB appeared first on Asian Private Banker.

The end of the COVID-19 pandemic has prompted many U/HNWIs in the region to re-assess what matters in their lives and focus more on wellness, whether that be yoga, meditation, scenic views, or plenty of organic vegan food. But all of this is also providing a number of new opportunities for savvy investors. Among them are wellness retreats, whose business is […]

The post Yoga, sunshine and vegan food: Is this new fund for U/HNWIs a bit of a stretch? appeared first on Asian Private Banker.

BlackRock has lost its wealth head for the Southeast Asia market, Asian Private Banker can reveal. Geir Espeskog, the head of wealth for Southeast Asia, has left the firm, according to people familiar with the matter. BlackRock confirmed Espeskog’s departure. “Espeskog has decided to pursue opportunities outside BlackRock, after more than 12 years with the firm. His responsibilities are shared […]

The post BlackRock’s Southeast Asia wealth head departs appeared first on Asian Private Banker.

BNY Mellon Investment Management (BNY Mellon IM), the US asset manager with US$1.9 trillion in AUM, has made three senior appointments to its Asia distribution team as it looks to bolster its offerings in the region. Clarence Chan was named CEO for Singapore on Tuesday, adding to his existing role as head of client solutions for APAC ex-Japan. He will […]

The post BNY Mellon IM reshuffles Asia leadership and distribution team appeared first on Asian Private Banker.

BlackRock has partnered with Jio Financial Services (JFS) to launch an asset management joint venture in India, according to an announcement on Thursday. The joint venture aims to offer tech-enabled affordable investment solutions to Indian investors. JFS and BlackRock will each contribute an initial US$150 million for a 50:50 share in the new joint venture named Jio BlackRock. The new […]

The post BlackRock targets India’s US$500bn wealth space with new JV appeared first on Asian Private Banker.

Attractive valuations are making Asian bond markets such as Indonesia more appealing to investors, according to one US asset manager with US$400 billion in AUM, as private clients in the region increasingly look for alternatives to China’s under-pressure high-yield space. The recommendation from Desmond Soon, head of investment management, Asia (ex-Japan) at Western Asset Management (Western AM), comes as bond […]

The post Beyond Chinese high yield: How this US$400bn firm invests in Asian credit appeared first on Asian Private Banker.

Capital Group has appointed a new managing director, financial intermediaries for Singapore and Southeast Asia. The asset manager, which has US$2.7 trillion in global AUM, said on Thursday that Tan Suyin will be responsible for leading the financial intermediary sales team in these markets. As part of the role, she will drive Capital Group’s distribution strategy and strengthen existing relationships […]

The post Capital Group makes senior intermediaries appointment in Asia appeared first on Asian Private Banker.

Since joining Deutsche Bank Wealth Management (Deutsche Bank WM) from HSBC in mid-2021, Chow Shang-Wei has had his hands full bulking up his team and mapping out expansion plans for the German lender’s private banking business in Southeast Asia. “My personal view is that there is a lot of potential for growth within the Southeast Asian region. We are seeing […]

The post Chow Shang-Wei hopes ‘open sky policy’ will help Deutsche Bank WM reach new heights appeared first on Asian Private Banker.

Bryan Goh says the pandemic has made investing more challenging in general, and massive policy response has complicated matters. “The complexity of the financial system and the result of many desperate rescues, has become even more complex and larger,” the Tsao Family Office CEO told Asian Private Banker. “ESG investing is always difficult and the pandemic has heightened the urgency […]

The post There are no right answers for ESG: Tsao Family Office CEO appeared first on Asian Private Banker.

Credit Suisse has hired a slew of senior bankers for the Philippines and Thailand markets, while a senior client partner at the Malaysia desk has exited the bank, Asian Private Banker has learned. According to an internal note seen by Asian Private Banker, Frances Lee was appointed senior relationship manager and executive director for the Philippines market in October, based in […]

The post Credit Suisse adds to Philippines, Thai teams; loses Malaysia heavyweight appeared first on Asian Private Banker.

Investors in Southeast Asia have spent more time reorganising their personal finances since the outbreak of the COVID-19 pandemic, according to a survey from Schroders. Since the onset of the health crisis, investors in Thailand (91% of respondents), Indonesia (88%), Malaysia (85%) and Singapore (81%) have spent longer considering their financial well-being. The survey, which was published on Tuesday, found […]

The post Southeast Asian investors worry more about finances due to pandemic: Schroders appeared first on Asian Private Banker.

SCB Julius Baer’s chief executive in Singapore has exited the joint venture and joined Julius Baer as a managing director senior advisor, Asian Private Banker can reveal. Jens Rzesacz, the CEO of SCB Julius Baer (Singapore) Pte Ltd since June 2019, has exited the Thai-Swiss link-up. People close to the matter told Asian Private Banker that Rzesacz joined Julius Baer in […]

The post SCB Julius Baer’s Singapore chief steps down and joins Julius Baer as MD senior advisor appeared first on Asian Private Banker.

A Thailand team head, an Indonesia team head and an Indonesia private banker have resigned from their roles at BNP Paribas Wealth Management in Singapore, Asian Private Banker can reveal. According to people familiar with the matter, Serene Tan, most recently executive director, team head Thailand based in Singapore, has resigned from her role. Lisa Teo, managing director, team head […]

The post Three Southeast Asia bankers leave BNP Paribas WM appeared first on Asian Private Banker.

Deutsche Bank Wealth Management has picked its Southeast Asia investment management team head, Asian Private Banker has learnt. Alania Hsu Concepcion has joined the German lender as a director. She will work with clients and RMs, focused on investment advisory for the Southeast Asia market. Based in Singapore, Concepcion reports to Law Coo-Way, managing director, head of Southeast Asia investment […]

The post Deutsche Bank WM picks Southeast Asia investment management team head 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.

With 500,000 accredited investors in Southeast Asia, Singapore-based Hg Exchange (HGX) is counting on its blockchain-powered infrastructure to deliver easier access to the alternative asset class — from private equity to digitalised securities. “At the highest level, we can list [most] mainstream financial products that are not native to a public securities exchange,” Willie Chang, CEO and HGX, told Asian […]

The post Members-only exchange wants to make alts more accessible, from PE to digital whisky appeared first on Asian Private Banker.

Deutsche Bank has hired three bankers from HSBC for its Southeast Asia wealth management business, including a group head Southeast Asia, Asian Private Banker has learned. According to an internal note seen by Asian Private Banker, Terence Leong started at the German lender on 1 July as group head Southeast Asia. He was most recently the UHNW market lead and […]

The post DB nabs trio for SEA market from HSBC PB 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.

Geneva-based Temenos said it is seeing remarkable opportunities for the firm’s wealth offering in emerging markets in Southeast Asia, where universal banks are stepping up their game in wealth management. “In emerging markets such as Thailand, Malaysia and Indonesia, [we see that] a number of universal banks are developing their mass affluent business,” Jean-Paul Mergeai, president of Asia Pacific, and […]

The post Temenos eyes mass affluent growth in Southeast Asia markets 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.

An executive director, investment advisory, has left J.P. Morgan Private Bank for Julius Baer, Asian Private Banker can reveal. Nicole Lim joined the Swiss pure play earlier this month and brings 13 years of experience in private banking investment advisory and portfolio management, with a focus on UHNW clients in Southeast Asia. Lim joined J.P. Morgan Private Bank in 2007 […]

The post Julius Baer hires executive director for investment advisory appeared first on Asian Private Banker.

The pandemic may have wrought unprecedented challenges to the world economy, but Lynn Hermijanto believes that this is the time for a truly committed private bank to shine by ‘handing the umbrella to clients in rainy days’. “There’s a saying that goes: ‘Never waste a crisis’,” explained Lynn Hermijanto, managing director, Southeast Asia wealth management coverage at Deutsche Bank Wealth […]

The post Crisis tests PBs’ commitment to clients and markets: DB WM’s Lynn Hermijanto appeared first on Asian Private Banker.

Standard Chartered Private Bank has bolstered its NRI bench with the addition of two former UOB bankers. Kapil Poply has joined the private bank’s Global South Asia Community (GSAC) business as managing director, senior client partner, Southeast Asian markets, and Gaurav Gupta has been appointed executive director, relationship manager, GSAC, according to a memo from the bank. Both are based in Singapore […]

The post StanChart PB adds two former UOB bankers to Global South Asia unit appeared first on Asian Private Banker.

J.P. Morgan Private Bank has promoted its head of Taiwan to lead its Southeast Asia team. He will be succeeded the former head of lending solutions for Asia. James Wey has become J.P. Morgan PB’s new head of Southeast Asia, replacing Rahul Malhotra, who has taken on a new role focusing on special projects and multi-family office opportunities. Wey is currently based […]

The post J.P. Morgan PB appoints new head of Southeast Asia appeared first on Asian Private Banker.

Deutsche Bank’s veteran head of wealth management, Southeast Asia, is retiring, and will be succeeded by a former HSBC managing director and market head for Singapore and Malaysia, Asian Private Banker can reveal. Kwong Kin-Mun, a household name in private banking circles, will retire from his role after spending 11 years with the German lender. Kwong has been in the private banking industry for […]

The post Deutsche Bank WM SEA head to retire, will be succeeded by ex-HSBC PB Singapore head appeared first on Asian Private Banker.

Joseph Poon, DBS private bank’s regional head of Southeast Asia, explained to Asian Private Banker that the private bank was enlarging its footprint in the region by adopting various approaches. “Our expansion strategy is country-specific and differs across Southeast Asia.” For example, in Thailand, the private bank announced its partnership with DBS Vickers Securities (Thailand) in September in a bid […]

The post DBS PB adopts country-specific growth strategy in Southeast Asia appeared first on Asian Private Banker.

Old Mutual International, the wealth management arm of Quilter, announced two additions to its high net worth team in Singapore today. Claire Tan and Christabel (Bella) Fernandez will both assume roles as directors of high net worth solutions in Singapore and Southeast Asia. They are expected to further the firm’s distribution partnerships while strengthening existing regional networks. Tan was previously […]

The post Old Mutual hires two for Singapore HNW team appeared first on Asian Private Banker.

Julius Baer has named Goldman Sachs’ former Singapore CEO, Jason Moo, as its new head private banking South East Asia and branch manager Singapore, subject to regulatory approval. The appointment is effective 17 February 2020. He will also be responsible for Julius Baer’s operations and development in Singapore. Moo’s predecessor, Torsten Linke, will take on the new role of head global […]

The post Julius Baer names Goldman Sachs veteran as new Southeast Asia PB head appeared first on Asian Private Banker.

Credit Suisse has added four South Asia bankers to its ranks, including three relationship managers for its private bank and a head of Philippines coverage for its investment bank, Asian Private Banker can reveal. Serine Oh, previously a DBS banker, has joined Credit Suisse Private Banking as executive director and expert relationship manager. Before DBS, Oh held stints for the […]

The post Credit Suisse hires four to boost South Asia market coverage appeared first on Asian Private Banker.

BNP Paribas Wealth Management has made a senior hire for its Southeast Asia key client group, Asian Private Banker can reveal. Doreen Lam has joined the French firm as managing director, head of key client group, Southeast Asia. In her Singapore-based role, she will be responsible for developing fundraising strategies and delivering holistic solutions to the bank’s strategic and key […]

The post BNP Paribas WM hires Southeast Asia key client head appeared first on Asian Private Banker.

Taurus Wealth Pte Ltd, a Singapore-headquartered multi-family office, has hired a senior private banker from UBS Global Wealth Management, Asian Private Banker has learnt. Based in Singapore, Max Gan has joined the independent asset manager as managing director, client investments from UBS GWM. At UBS GWM, Gan most recently held the position of country team leader, Singapore desk and covered the […]

The post Senior UBS private banker joins Singapore MFO Taurus appeared first on Asian Private Banker.

Maybank Private has hired the former group head of South East Asia at Julius Baer to head up the Indonesia market, Asian Private Banker can reveal. Febby Avianto has joined Maybank Private as market head for Indonesia. Avianto was formerly managing director, group head of South East Asia at Julius Baer. Prior to Julius Baer, Avianto was market head for Southeast Asia at Union […]

The post Maybank Private hires Indonesia market head and head of UHNW appeared first on Asian Private Banker.

HSBC Private Banking has rejigged the responsibilities of some of its top ASEAN bankers as it pursues a growth plan in the subregion that includes ambitious hiring and asset gathering targets, Asian Private Banker can reveal. Chow Shang Wei, the private bank’s market head for Singapore, will add Malaysia to his remit, taking over from Chris Harwood, who has held the position since […]

The post HSBC PB rejigs ASEAN markets roles amid growth drive appeared first on Asian Private Banker.

HSBC Private Banking has hired a former Credit Suisse veteran to spearhead its UHNW solutions proposition in Southeast Asia, in a move to service its UHNW segment from an institutional perspective. With over two decades of financial markets experience, Chan Eng Chien has joined the British bank as head of UHNW solutions, Southeast Asia. He was most recently Credit Suisse’s […]

The post HSBC PB appoints head of UHNW solutions for Southeast Asia appeared first on Asian Private Banker.

Maybank Private is incentivising its relationship managers (RMs) to adopt a regional mindset as the bank embarks on its next phase of expansion and growth, according to Alvin Lee, head of group wealth management and Singapore community financial services at Maybank. “Boundaries are broken down and RMs are empowered with the capability to book clients in any of the countries […]

The post Maybank Private eliminates “territorial” mindset for RMs: Alvin Lee appeared first on Asian Private Banker.

In a mercurial 2018, DBS Private Bank witnessed double-digit year-on-year growth in the number of discretionary portfolio management (DPM) client accounts across all its key Southeast Asia markets — Singapore, Malaysia, Indonesia, Thailand, and the Philippines — according to Joseph Poon, managing director and head of Southeast Asia at DBS Private Bank. “For Thailand and the Philippines, we saw massive […]

The post DBS PB’s DPM business grows 15-50% across SEA: Joseph Poon appeared first on Asian Private Banker.

HSBC Private Banking has added a former Credit Suisse banker to its Southeast Asia investment services and product solutions (ISPS) team, Asian Private Banker can reveal. Based in Singapore, Sean Kang has joined the bank’s fast-growing ISPS team as director of advisory and sales management, Southeast Asia. A spokesperson for the bank confirmed the hire. Prior to joining HSBC PB, […]

The post HSBC PB appoints former Credit Suisse banker to SEA ISPS team appeared first on Asian Private Banker.

HSBC Private Banking has bolstered its investment services and product solutions (ISPS) team in Southeast Asia with a string of senior appointments in Singapore, on the back of concerted efforts to galvanise group connectivity and pivot to a team-based servicing model. James Cheo has filled the newly created role of chief market strategist, Southeast Asia in HSBC’s investment advisory line-up, […]

The post HSBC PB fills three ISPS roles in Southeast Asia appeared first on Asian Private Banker.

Raffles Family Office has added Indosuez Wealth Management’s former Asia head of FX advisory to its management lineup as part of its rapid expansion push. Having served at Indosuez WM since July 2012, Benn Ng joined as managing director and head of Southeast Asia in Raffles’ Singapore office, which opened in October last year. “Benn will work alongside me and […]

The post Raffles FO aims to be Asia’s number one EAM by 2020 with new hire appeared first on Asian Private Banker.

Credit Suisse’s former vice chairman for private banking Southeast Asia is poised to resurface at a rival European bank, Asian Private Banker can confirm. David Lim, who caught the industry off-guard when he left Credit Suisse in November, will join BNP Paribas Wealth Management, according to sources. His stay at Credit Suisse was shortlived, having returned to the bank in […]

The post David Lim poised to resurface at rival Euro bank appeared first on Asian Private Banker.

David Lim, Credit Suisse’s vice chairman for Southeast Asia, is set to leave the bank, in what amounts to an abrupt about-face. Asian Private Banker has learnt that Lim, who rejoined Credit Suisse from Julius Baer earlier this year, has decided to leave to pursue other opportunities. Spokespersons for Credit Suisse declined to comment. In May, Credit Suisse trumpeted the […]

The post Credit Suisse SEA vice chairman set to leave appeared first on Asian Private Banker.

Citi Private Bank has bolstered its front office with the hire of a new private banker responsible for Southeast Asia coverage. Asian Private Banker understands that Peter Loh has joined Citi Private Bank as a Singapore-based relationship manager focused on covering Thailand and Malaysia. A spokesperson for the bank declined to comment on the new hire. Prior to joining Citi Private Bank, […]

The post Citi hires new Southeast Asia private banker appeared first on Asian Private Banker.

Maybank Asset Management Group and Schroder Investment Management (Singapore) Ltd have entered into a “long-term” strategic partnership, according to a joint press statement. Badrul Hisyam, CEO of Maybank Asset Management commented that the collaboration intends to leverage on the Southeast Asian footprint of Maybank and global investment expertise of Schroders to facilitate the joint development of global “specialist” investment solutions catered […]

The post Maybank AM and Schroders ink strategic partnership targeting ASEAN HNWIs appeared first on Asian Private Banker.

Entering the race for the flourishing onshore wealth pool in Asia, Swiss pure play Bordier & Cie (Singapore) has set into motion plans to explore new markets through partnerships rather than establishing onshore offices. As part of its strategy for geographical expansion, Bordier & Cie has earmarked the Southeast Asian markets of Thailand, Indonesia, and the Philippines, where it intends […]

The post Bordier unfurls strategy to tap onshore Southeast Asian wealth appeared first on Asian Private Banker.

HSBC Private Banking has added to its investment services and product solutions (ISPS) team in Southeast Asia, amid a major hiring drive that should see the division’s farmer-to-hunter ratio increase in a bid to do more with its group-connected clients. Li Choo Tay joins as head of fixed income, ISPS, Southeast Asia. Tay has 18 years of sell-side experience in […]

The post HSBC PB makes key Singapore appointments for investment services, product solutions appeared first on Asian Private Banker.

Although AUM often typifies the success of a private bank, Bank of Singapore says that, above all, its priorities lie in adding value to client relationships by helping clients locate and assuage pain points. “We have a saying here: ‘AUM is vanity, revenue is sanity, and bonus is the RM’s reality’,” said Robin Heng, global market head for the Philippines, Australia, Indonesia, […]

The post Bank of Singapore’s Heng amps up value-add in Asian wealth transfer appeared first on Asian Private Banker.

Banks should conduct “many experiments” during their digitalisation journeys, advises Juerg Hunziker, group CEO at Avaloq. At the 11th annual Avaloq Community Conference, Hunziker revealed that his clients are consistently demanding “instant gratification” — a notion unsurprisingly common in the digital age. However, he also highlighted that this demand is paradoxically fulfilled with long-term thinking. “Companies must first have a […]

The post Banks should “use many experiments” in tech development and deployment: Avaloq appeared first on Asian Private Banker.

Credit Suisse has named a veteran Asian banker and alumnus of the firm as its new vice chairman Southeast Asia. David Lim has rejoined Credit Suisse from Julius Baer, where he spent 12 years most recently as vice chairman Southeast Asia. During his previous stint with Credit Suisse, Lim served as head of solution partners, a business that delivered private investments capital solutions to the […]

The post Veteran private banker rejoins Credit Suisse in Singapore appeared first on Asian Private Banker.

A former equity sales director at Citigroup Global Markets has joined UBP as head of investment advisors for South Asia, according to an internal memo seen by Asian Private Banker. Adele Yeo has been appointed managing director, head of investment advisors, South Asia, at UBP. Based in Singapore, Yeo will report to Ranjit Khanna, chief executive, Singapore, and head of […]

The post UBP names new head of investment advisors for South Asia appeared first on Asian Private Banker.

Singapore-based Farringdon Asset Management says it expects to generate a third of its revenues from ultra-wealthy clients following the launch of its private equity app. The external asset manager will launch its “Mercury” app in November, as part of its efforts to diversify its client base. Advertisement A spokesperson for the bank declined to comment on Saurini’s resignation, but added […]

The post Farringdon AM says a third of revenues will come from ultra-wealthy clients after app rollout appeared first on Asian Private Banker.

UBS Wealth Management’s South East Asia regional market manager (RMM) for the ultra high net worth (UHNW) segment will leave the bank, Asian Private Banker has learnt. UBS WM will also make changes to the organisational setup of its South East Asia desk in 2017. Vinay Gandhi has resigned from his Singapore-based role. South East Asia restructuring Starting January 2017, UBS […]

The post UBS WM loses SEA RMM for UHNW, bank to rejig reporting lines appeared first on Asian Private Banker.

Although Bank of Singapore’s head of equity research, Sean Quek, believes caution is warranted for ASEAN equities, the economic prospects remain bright for the region with a number of countries experiencing surges in the ease of doing business rankings. Challenging valuations and the risk of foreign selling due to a Fed rate hike has led Quek to stay cautious on […]

The post Bank of Singapore: Significant economic improvements in ASEAN region but remain cautious on equities appeared first on Asian Private Banker.

A former UBS private banker based in Singapore has resurfaced at a Canadian lender, Asian Private Banker can reveal. Duncan Ong has joined RBC Wealth Management as executive director and team head covering the Southeast Asia market. A spokesperson for the bank declined to comment on the hire. Ong, whose previous remit included the Indonesian market, was one of a number of […]

The post Former UBS private banker joins Canadian PB appeared first on Asian Private Banker.

HSBC Private Bank has added an ex-Credit Suisse team head to its Hong Kong-based lineup, Asian Private Banker can reveal. Abhishek Mehrotra has joined HSBC Private Bank as a desk head covering Southeast Asian markets, with a particular focus on the Philippines. Mehrotra was previously with Credit Suisse Private Banking, where he spent a year as an executive director and team head […]

The post HSBC welcomes back SE Asia-focused private banker appeared first on Asian Private Banker.

Credit Suisse has set its sights on Thailand’s onshore wealth pool by establishing a wealth management presence in the Southeast Asian nation’s capital, Bangkok. The Swiss major is targeting the nation’s more than 91,340 high net worth (HNW) and ultra high net worth (UHNW) individuals, whose combined wealth rivals that of South Korea and Singapore. The offering is aimed at HNW and […]

The post Credit Suisse targets Thailand, sets up Bangkok-based wealth management team appeared first on Asian Private Banker.

In a bid to strengthen its coverage of the South Asian high net worth segment, ABN AMRO has appointed a former EFG private banker to head its South Asia-focused team. According to a media release, Amrit Uppal has been appointed managing director for world South Asian services and international team by the Dutch lender. Uppal was previously with EFG Bank […]

The post ABN AMRO appoints former EFG private banker as South Asia services team head appeared first on Asian Private Banker.

At least three management figures at UBS Wealth Management (WM) in Singapore have left the Swiss bank, Asian Private Banker can exclusively reveal. Joseph Poon, head of ultra high net worth, Southeast Asia and former head of Macquarie Private Wealth Asia, Duncan Ong, and Urs Grueter, a managing director who has been with UBS since 1999, have all exited the […]

The post UBS Singapore sees senior exits appeared first on Asian Private Banker.

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 […]

The post Ex-Standard Chartered veteran joins Middle Eastern Bank as PB head appeared first on Asian Private Banker.

In February this year, EFG announced that it will acquire private bank BSI from BTG Pactual for US$1.34 billion. The deal should catapult EFG into the big leagues by making it one of Switzerland’s largest private banks with around CHF170 billion (US$176 billion) in assets under management (AUM). It should also bring scale to EFG’s Asia business, according to the […]

The post Straight Talk: Albert Chiu, chief executive, Asia Pacific, EFG Bank appeared first on Asian Private Banker.

Pictet Wealth Management has undergone a management restructure, splitting the roles of Hong Kong and Asia CEO, in what the Swiss pure play calls a reaction to “increased business growth” in Asia. Sharon Chou has absorbed the new title of Hong Kong CEO, in addition to her existing roles of Pictet Wealth Management North Asia CEO and executive officer of […]

The post Pictet splits leadership role, names new Hong Kong CEO appeared first on Asian Private Banker.

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 […]

The post Credit Suisse Asia RM headcount jumps 19%; profits, AUM slip appeared first on Asian Private Banker.

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 […]

The post Credit Suisse adds 30-plus private bankers in Asia including two market group heads appeared first on Asian Private Banker.

Fusang has today become the latest addition to a burgeoning single and multi family office scene in Asia, with the privately-owned entity opening its doors for the first time in Hong Kong and Singapore. Fusang is being billed as a “Asian family office” offering local, regional and global services, including the creation of single family offices tailored towards individual families. […]

The post Asian family office opens doors in Hong Kong and Singapore appeared first on Asian Private Banker.

Book size and the ability to leverage on existing and recurring business: these are the key qualities that private banks look for in frontliners today, say experts that include three prominent wealth management players. The relationship manager (RM) talent pool seems to be a constant game of musical chairs, and each time an experienced banker moves to another bank, his […]

The post What do CEOs look for in a RM? appeared first on Asian Private Banker.

BSI’s head of private banking for Asia has resigned against a turbulent backdrop that includes the bank’s acquistion by Swiss peer EFG, and an ongoing probe into Malaysian state investment fund, 1Malaysia Development Berhad (1MDB) that has netted one former BSI banker.  Raj Sriram has resigned as head of private banking, Asia, for BSI in Singapore.   Sriram took the […]

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In the latest twist to the ongoing probe into BSI Singapore’s links with Malaysian state investment fund,1MDB, the Attorney-General’s Chambers (AGC) has confirmed earlier reports that a Singaporean ex-BSI private banker has been charged with receiving benefits from criminal conduct. “In response to press queries, the Attorney-General’s Chambers confirms that Yeo Jiawei (33-years-old, male), a former BSI Singapore employee, was […]

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HSBC Private Bank has appointed a new Southeast Asia head of funds selection almost a year after Alexander Kwan, the bank’s former head of funds selection in Singapore, exited for LGT. In an internal promotion, George Lam, formerly director of investment services and products solutions, has been named HSBC Private Bank’s head of mutual funds and discretionary. The new position has a combined […]

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An increasing number of private banks are turning to technology as a differentiator. Dovetailing this trend with its pledge of US$250 million to build a single wealth management platform, Standard Chartered’s ASEAN and South Asia regional head, private banking tells Asian Private Banker how such an investment will impact its high net worth clients.   “Technology helps our relationship managers […]

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HSBC Private Bank has today announced a new head of global private banking for South East Asia. Sandeep Sharma, who until now has served as co-head of global private banking, South East Asia alongside Rob Ioannou, will step into the newly-created role. He will be based in Singapore, reporting to Guy Harvey-Samuel, HSBC Singapore’s chief executive, and Bernard Rennell, regional […]

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More than a year after the departure of J. Safra Sarasin’s former Singapore CEO, Eric Morin, the pure play has appointed a former Société Générale private banker as his successor. Benedikt Maissen joins the Swiss-headquartered private bank as its new Singapore CEO and head of the Southeast Asia business, effective April 1, 2016, reporting to Enid Yip, CEO of Asia. […]

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Another former DBS NRI banker has left the Singaporean lender, resurfacing at a rival private bank, Asian Private Banker has learned. Chandan Gupta has joined Bank of Singapore as an NRI banker. Gupta is based in Hong Kong, reporting to Sanjeev Sharma executive director.   When contacted, a spokesperson from Bank of Singapore confirmed the hire. Gupta had spent two years […]

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Coutts’ Asia business is to lose one of its most senior private bankers to retirement in the midst of the pure-play’s integration with Union Bancaire Privée, according to an internal memo seen by Asian Private Banker.  The note confirms that David Lam, Coutts’ head of North Asia market covering Greater China and the Philippines, will retire after three years on the job and […]

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The wealth management (WM) arm of Royal Bank of Canada has named a former EFG senior banker to oversee its Southeast Asia (SEA) operations. Based in Singapore, Tho Gea Hong will be responsible for providing “strategic direction and managerial counsel” for the SEA business, RBC WM said. She will report to Barend Janssens, RBC WM’s Asia head. Tho has 27 years […]

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Bank of Singapore (BOS) has relocated a non-resident Indian (NRI) specialist desk to Dubai as it seeks to boost its Middle East footprint. Nikhil Advani moves from Singapore to Dubai to take on a new role as a senior relationship manager with the mega-wealth team in the United Arab Emirates. He now reports to Kirit Chauhan, market head of Middle East, BOS. […]

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The Asian Private Banker Private Banker of the Year 2015 talks about what it takes to survive, thrive and ultimately – win. (This article first appeared in Issue 97 of Asian Private Banker’s monthly print magazine, published in the first week of March 2016.) Congratulations – Credit Suisse has won Best Private Bank – Asia twice on your watch and this year you have […]

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The Singaporean bank is the overwhelming pick to buy Barclays’ Asia wealth arm and make its second private banking acquisition in as many years, says Asian Private Banker’s latest On-the-Spot poll. A resounding 42% of respondents to the poll selected Southeast Asia’s biggest bank as the likely buyer. Julius Baer, at 17%, fewer than half the total votes, was voted […]

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Asian Private Banker has learnt that two non-resident Indian (NRI) bankers have left Bank of Singapore (BOS), which comes shortly after it named its new NRI market segment head. Vimal Bali and Richa Sood, former BOS NRI bankers based in Hong Kong, are no longer at the bank. When contacted, a BOS spokesperson declined to comment. Bali worked at Bank […]

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The private banking arm of Singapore lender OCBC  has appointed a former Coutts UHNW banker to the role. Zubin Dabu joins Bank of Singapore two months after this publication first reported his departure from Coutts, and is understood to report to Derrick Tan, the bank’s global market head for Malaysia, Brunei, Japan, Sub-Continent and Middle East. Dabu joined this week […]

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Deutsche Bank Wealth Management (WM) has brought in a new Asia chief operating officer, while promoting the last one to a global role. Sudhir Nemali is the German lender’s new Asia COO, based in Singapore. He takes over from Venkatesh Narasiah, who will now be the global head of the WM operating model for the bank’s WM division. In this role, […]

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Following a town hall meeting in Asia with staff of both Coutts and Union Bancaire Privée (UBP), Michel Longhini, UBP executive managing director, private banking, gives Asian Private Banker an update of ongoing developments of the integration. “Clearly, the teams are being reinforced by some of our people but as you know, UBP in the region has had a limited set […]

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Julius Baer has hired a former UBS Wealth Management banker to oversee the bank’s special clients segment. Alberto Martinelli is Julius Baer’s new managing director, senior adviser and head of special clients. Prior to this, Martinelli was at UBS Wealth Management for 15 years. He has also worked at Ticino’s Corner Bank. His hire comes shortly after Julius Baer named […]

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Despite ongoing talks about the sale of its Asia private banking arm, the UK lender has named a new head of wealth and investment management for Singapore. Andrew Tailby-Faulkes is the new head of the division, based in Singapore. His promotion comes shortly after the departure for Didier von Daeniken, who used to lead Barclays’ private banking business for Asia […]

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After holding several roles in Singapore, including being head of Southeast Asia at RBC Wealth Management (WM), a career banker has resurfaced at a pure play. Grace Barki has joined Pictet as managing director covering Southeast Asia, based in Singapore. When contacted, a spokesperson from Pictet confirmed the hire. Prior to her role as head of Southeast Asia for the Canadian lender, […]

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Boosted by positive inflows from Asia, Switzerland and the European Union, Geneva-based Pictet posted a revenue income rise of 3% in 2015, while consolidated net profit fell by 2%, according to its latest earnings release. Operating income rose to CHF2.1 billion (US$2.1 billion), Pictet added. In addition, assets under management (AUM), under its asset management and wealth management divisions, also upped […]

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Overseas Chinese Banking Corp (OCBC) joins a growing league of banks to be bidding for the rumoured sale of Barclays private banking arm in Asia, according to sources. OCBC, along with Swiss private bank Julius Baer and Singaporean lender DBS, has reportedly submitted non-binding bids for Barclays’ Asian private wealth business. When contacted, spokespeople from Barclays and OCBC declined to […]

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A former Indosuez Wealth Management – formerly known as Credit Agricole Private Banking – senior non resident Indian (NRI) banker has resurfaced at Bank of Singapore (BOS). Anuraag Gupta joined Bank of Singapore “on 22 January 2016 as a senior relationship manager with the sub-continent and NRI Southeast Asia team”, says a BOS spokesperson who confirmed the hire. He is […]

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Three months after this publication first reported that Barclays’ private banking business in Asia is up for sale, the British lender is allegedly hiring investment firm Lazard to advise on any potential deal, believed to be valued at some US$500 million. When contacted, a Barclays spokesperson declined to comment on the matter. The news came just one day after the […]

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In a bid to differentiate itself from the growing pack of private banks vying for HNW wealth in Asia, Rothschild’s newly appointed non-executive chairman for the Southeast Asia (SEA) region says it will strengthen its trust offerings for wealthy Asian families. “We are seeing an increase in demand for these structuring services in Asia, as more first generation wealth creators pass […]

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As it looks to strengthen its wealth management and trust advisory offerings, Rothschild has named a new non-executive chairman for the Southeast Asia (SEA) region. Henry Ho joins Rothschild, working closely with the global financial advisory, wealth management and trust teams across Southeast Asia to help develop the bank’s business, based in Singapore. “We are delighted that we are able […]

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We kick off our first Straight Talk chat of 2016 with a key figure at the world’s largest private bank, Jürg Zeltner, president of Wealth Management at UBS AG. (This article first appeared in Issue 95 of Asian Private Banker’s monthly print magazine, published in the first week of January 2016.) What is your Asia Pacific strategy? With the recent market volatility in […]

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Standard Chartered (StanChart) has made three new Singapore-based appointments for its Asian private banking operations, the bank said in a statement, as the wealth management unit continues with changes at the top. Stephen Richards Evans is appointed market head, Indonesia, effective immediately, in addition to his role as global head of the bank’s UHNW Proposition. He has been leading this business since […]

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