People Moves

New Global Leadership Unveiled At Charles Monat

Jackie Bennion Deputy Editor 3 June 2021

New Global Leadership Unveiled At Charles Monat

A host of top-table announcements across Asia and a new global advisory board are part of expansion plans to serve the region's rapidly growing ultra-wealthy.

Charles Monat Associates has announced a slew of leadership changes and newly-created senior roles in a bid to support the firm’s "aggressive global expansion plans" and build greater synergies across regions, asset classes and liquidity solutions, it said yesterday. 

The wealth planning and life insurance business says the changes will allow it to capitalise on the fertile opportunities across Asia-Pacific driven by rapidly increasing wealth across the region.

To meet these challenges, CMA has appointed Berry Wong as Asia CEO in a newly-created position. Wong previously served as CEO for Hong Kong and will now oversee operations in Mainland China, Hong Kong, Malaysia, and Singapore, leading regional growth plans and continuing to develop client wealth planning objectives.

Nikki Koh is replacing Wong as CEO of Singapore with oversight of “a strategically important market” for the firm. He will continue to serve as group chief commercial officer.

 “Over the last few years, a new, highly-competitive wealth planning ecosystem has been emerging. COVID-19 has accelerated the pace of this change as the entire world was brought to a standstill, with borders closing and travel restricted. The uncertainty has highlighted the importance of succession planning, while reaffirming the need for wealth consultants to be nimble and agile to adapt to the fast-moving environment and bridge their capabilities globally,” Yves Guélat, CMA group CEO, said.

“Today’s announcement puts us in a unique position to do this as we aim to get closer to our clients and partners, become the world’s most ‘global broker’ and continue to build our legacy and the legacies of our clients,” Guélat said.

In other senior moves, Martin Wong has been named group chief business development officer, in another new post, primarily focused on developing onshore opportunities across the regional footprint.

The group has also promoted Klaus Kiessling to group chief financial officer and Li San Tan to group chief operations officer as part of the succession shake up.

Established in Hong Kong in 1971, CMA has placed around US$40 billion in solutions for clients over a 50-year history in the region. The consultancy operates throughout Asia, with a strong presence in Mainland China, and has offices in the Middle East, Europe and North America. The business also provides liquidity planning and wealth transfer for ultra-wealthy individuals, families and businesses.

As part of the reshuffle, CMA has also established a global advisory council charged with navigating "the opportunities and challenges posed by the rapidly shifting landscape of global wealth." It follows expansion in Europe, and strong market growth, particularly in the Middle East, the firm said. Plans are also afoot to grow its Swiss-based operations, where the group has appointed Marco Liardo as managing director and head of Switzerland.

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