Union Bancaire Privée (UBP) more than doubled its net new money (NNM) in North Asia for 2025 while capturing surging brokerage and wealth planning revenues, North Asia region head and Hong Kong CEO Teresa Lee told Asian Private Banker. Revenue for the North Asia business grew nearly 15% yoy in Swiss franc terms, driven by brokerage fees — which accounted […]

The post UBP doubles North Asia NNM as brokerage and wealth planning surge appeared first on Asian Private Banker.

The external asset management (EAM) space in Asia may still be in its early stages, but its rapid growth is creating “tremendous opportunity” for private banks that know how to serve this emerging client segment, according to senior executives from leading private banks. While EAMs in Asia are less mature than their European counterparts, panellists at the Family Office Association […]

The post Bank of Singapore, StanChart, and UBP tap North Asia EAM growth appeared first on Asian Private Banker.

More than six months into her role as region head for North Asia at UBP, Teresa Lee is wasting no time making her mark across the markets of Mainland China, Hong Kong, Taiwan – and even the Philippines. Her first priority has been front office expansion. This includes hiring relationship managers (RMs) covering Greater China, as well as bankers and […]

The post Teresa Lee hits the ground running as UBP’s North Asia boss appeared first on Asian Private Banker.

Swiss pure play UBP has bolstered its coverage in Hong Kong with a senior banker appointment. Jamian Lai joined the bank as market head, the Philippines in Hong Kong this week, according to an internal memo sent by Teresa Lee, regional head of North Asia, UBP. Based in Hong Kong, Lai will report to Ricardo Choi, head of the Philippines. […]

The post UBP appoints market head for Philippines in Hong Kong appeared first on Asian Private Banker.

Swiss pure play UBP has named a recently-resigned Bank of Singapore veteran to lead its investment services for North Asia. Based in Hong Kong, Jacky Leung will join UBP effective 2 January 2025, according to an internal memo seen by APB and confirmed by the bank on Tuesday. Leung will succeed Andy Lee, who has decided to leave UBP to “pursue […]

The post UBP appoints BoS veteran as North Asia investment services head appeared first on Asian Private Banker.

Hong Kong authorities in October expanded the scope of the Capital Investment Entrant Scheme (CIES) to include investments in residential properties and said they are considering further tax breaks for single-family offices in the city. The CIES aims to attract investment by granting residency status to applicants who make investments in the city under qualifying criteria. In his policy address […]

The post Hong Kong expands scope of CIES, weighs single-family office tax breaks appeared first on Asian Private Banker.

With an estimated US$83.5 trillion in assets to be passed down to the next generation over the next 20 to 25 years, private banks recognise the urgency of capturing the next-gen opportunity, private banking CEOs said at Asian Private Banker’s Hong Kong Summit. However, understanding the wants and needs of next-gen clients, as well as how to cater to them, […]

The post APB Summit 2024: BNP Paribas WM, Julius Baer, UBP on engaging next-gen clients appeared first on Asian Private Banker.

UBP has hired a wealth planning specialist in Hong Kong from Bank of Singapore, Asian Private Banker has learnt. Nelson Hon has recently been appointed as managing director, senior wealth planner at UBP in Hong Kong, according to his LinkedIn update. Before that, Hon worked for Bank of Singapore for over three years as a wealth planning specialist. He has […]

The post UBP hires senior wealth planning specialist from Bank of Singapore appeared first on Asian Private Banker.

With the announcement that UBS’s Iqbal Khan will be dispatched to Asia with the new title of president of Asia Pacific and co-head of GWM globally, all eyes are currently on the region’s biggest private bank. One of Khan’s major challenges will be retaining staff at the Swiss giant, which boasts an army of around 1,100 relationship managers (RMs) in […]

The post Movers & Shakers – May 2024: Which banks could gain from UBS’s pain? appeared first on Asian Private Banker.

Bank of Singapore’s recently-resigned vice-chair for Greater China is joining UBP to lead its business in North Asia, Asian Private Banker has learned. Teresa Lee will join the Swiss pure-play in August as regional head of North Asia and subject to regulatory and board approval, chief executive for Hong Kong, succeeding Ivan Wong, who will retire soon, according to an […]

The post UBP hires BoS Greater China vice-chair for North Asia job appeared first on Asian Private Banker.

Private banks in Asia enjoyed bumper AUM growth of 16% on average in 2023, according to Asian Private Banker‘s recent Asia 2023 League Tables, adding an aggregated US$400 billion in assets. However, this does not tell the full story. While the likes of UBS Global Wealth Management, HSBC Global Private Banking and DBS swallowed up tens of billions of dollars […]

The post Analysis: Which banks struggled to gain AUM in 2023, and why? appeared first on Asian Private Banker.

Asian Private Banker is proud to present its inaugural Women in Wealth Management report. In this report, we sought to identify, analyse and celebrate companies that are paving the way when it comes to supporting the valuable and unique role that women play in the regional industry. For the first time, industry practitioners have access to granular details on the […]

The post Women in Wealth Management: Three key takeaways appeared first on Asian Private Banker.

After weeks of speculation, Asian Private Banker can confirm the appointment of former Credit Suisse Hong Kong CEO at Bank of Singapore. Rickie Chan will be joining Bank of Singapore as head of private banking, Greater China, Hong Kong branch, according to people close to the matter. Teresa Lee, the current head of Greater China at Bank of Singapore Hong […]

The post Former CS Hong Kong CEO to join Bank of Singapore appeared first on Asian Private Banker.

This is a sponsored article from Bank of Singapore. Traditionally cast in a more inconspicuous backstage role in the world of private banking in Hong Kong, the family office has suddenly moved into the full glare of the spotlight. As Teresa Lee, Head of Greater China at Bank of Singapore’s Hong Kong Branch puts it, “this year the family office […]

The post The family office comes to the fore in Hong Kong appeared first on Asian Private Banker.

Family Office Association Hong Kong (FOAHK) has sharpened its focus on crypto, wealth management, and education and research, with senior appointments to three newly-created sub-committees. Teresa Lee, Michel Lee and Grant Ko will chair the Wealth Management Sub Committee, Crypto Sub Committee, and Education & Research Sub Committee, respectively, according to an announcement on Monday. Michael Lee is the executive […]

The post Ex-UBS bankers join new FOAHK crypto, education committees appeared first on Asian Private Banker.

Bank of Singapore has appointed a product management group head for Hong Kong with a view to strengthening the product capabilities of its growing pool of clients in Greater China. With immediate effect, Jacky Leung, based in Hong Kong, will report to Lim Leong Guan, global head of products, and report locally to Teresa Lee, head of Greater China, Hong […]

The post Bank of Singapore hires head of product management for Hong Kong appeared first on Asian Private Banker.

Bank of Singapore on Thursday announced the appointment of a global head of alternative investments and managed solutions to meet the heightened interest of clients in alternative investment products. Based in Hong Kong, Robert Reid will start his new role on 30 May 2022. He will report to Lim Leong Guan, global head of products, and locally to Teresa Lee, […]

The post Bank of Singapore nabs BlackRock Hong Kong head as global head of alts appeared first on Asian Private Banker.

Bank of Singapore on Tuesday announced the appointment of two wealth planning veterans with a view to strengthening its expertise offered to HNW families. Based in Hong Kong, Christine Wong has been named as head of wealth planning for Greater China and North Asia on 19 May. She will report locally to Teresa Lee, head of Greater China for Hong […]

The post Bank of Singapore bolsters wealth planning team with two senior hires appeared first on Asian Private Banker.

Bank of Singapore has hired a new head of independent asset management (IAM) for Hong Kong, Asian Private Banker has learnt. Steven Lee joined Bank of Singapore on 21 February. In his new role to expand the bank’s IAM business in the region, Lee reports to Lim Li Li, head of Global Investors and Family Offices at BoS. Lee has […]

The post Bank of Singapore names new head of IAM for Hong Kong appeared first on Asian Private Banker.

Bank of Singapore has added a new China market head in Hong Kong, Asian Private Banker has learnt. Andrew Wong is joining the Singapore lender from Credit Suisse Private Bank, effective today. Based in Hong Kong, Wong reports to Teresa Lee, head of Greater China, Hong Kong and the Hong Kong Branch alternative CEO of Bank of Singapore. Wong was […]

The post Bank of Singapore picks China market head from Credit Suisse appeared first on Asian Private Banker.

Bank of Singapore has added a Greater China market head to its Hong Kong branch, Asian Private Banker can reveal. According to an announcement by the bank on Friday, Louis Chan has joined the Singaporean lender’s Hong Kong office as market head, Greater China. He reports to Teresa Lee, head of Greater China, Hong Kong branch. Chan was most recently […]

The post Bank of Singapore picks Greater China market head in Hong Kong appeared first on Asian Private Banker.

Leadership changes will not disrupt Bank of Singapore’s agenda, CEO Bahren Shaari told Asian Private Banker, arguing that the lender’s business is not defined by any one personality. The exit of Derrick Tan, global market head for Greater China and North Asia and Hong Kong CEO, in August has raised questions over the potential impact on Bank of Singapore and […]

The post Bahren Shaari on succession at BoS: Our business is not defined by personality 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.