The top Asia post will set expansion strategy in the region, with the predecessor, as reported earlier this week, moving to head Paris operations.

Subject to the usual approvals, Omar Shokur has been named chief executive officer for Asia and branch manager of Indosuez Wealth Management in Singapore, starting in July.

The firm said that Shokur’s appointment in Singapore is part of its developing strategy for Asia's "highly competitive" market. He succeeds Pierre Masclet, who will move to be Paris-based deputy CEO of Indosuez Wealth Management in July, as this publication reported this week.

Swiss-educated Shokur has a long history at Indosuez parent Crédit Agricole. He joined the French bank in 2001, working for a time in London on commodity derivatives structuring, then on to run its Geneva-based capital markets division. He became head of financial intermediaries for the bank in 2010, with accountability for Switzerland and Asia. Since 2017, he has led the markets, investment and structuring teams for Indosuez in Switzerland.

He will report to Jean-Francois Deroche, CEO of CA Indosuez (Switzerland).

Announcing the move on Wednesday, Deroche said Shokur’s combined skills in business development, investments products, and management will meet “the challenges of a highly competitive market” and “strengthen our expansion in the region.”

Indosuez WM had €122.8 billion ($137.7 billion) in assets under management as at the end of last year.