People Moves

Summary Of Asia-Pacific Senior Wealth Management Moves – September 2023

Editorial Staff 8 December 2023

Summary Of Asia-Pacific Senior Wealth Management Moves – September 2023

The latest moves in the Asia-Pacific wealth management and private banking space. Firms included this month are Barclays, Standard Chartered, RBC Wealth Management and WRISE.

Cohen & Steers, the investment house concentrating on sectors such as real estate, infrastructure and commodities, named a head of wealth for Asia-Pacific, Liyen Wee. Her remit covers Asia, excluding Japan; she is based in Singapore and reports to David Conway, head of international wholesale distribution.

Wee, who has more than 18 years of sales and client relationship experience in the asset management industry, most recently served as director of the financial intermediaries’ group at Lazard Asset Management where she led the Southeast Asia financial intermediaries and wholesale distribution business. 

360 ONE, the India-focused firm that used to be called IIFL Wealth & Asset Management, launched a global platform and hired industry veteran Vikram Malhotra as the co-founder and CEO of 360 ONE Global, as the platform is called. 

Malhotra served as the global market head for Global South Asia and Middle East at Bank of Singapore. He has more than three decades of experience across prestigious institutions, including Barclays, UBS, and ABN AMRO. 

Standard Chartered Bank appointed Mike Tan as global head of wealth planning and family advisory. Tan reports to Raymond Ang, global head, Private & Affluent Banking. Tan has more than 20 years of experience in wealth and succession, family office, family governance and philanthropy planning and advisory. Most recently, Tan was part of the Wealth Advisory team at JP Morgan NA, Singapore.

Global investment firm Cambridge Associates expanded its Asia investment team. It relocated managing director, Ming Yan, from the firm’s Boston office to Singapore. Yan reports to Aaron Costello, regional head for Asia. 

HSBC appointed Lok Yim, Deutche Bank's former Hong Kong CEO, as its regional head of Global Private Banking, Asia Pacific. Yim, who left Deutsche Bank in 2022, succeeds Siew Meng Tan, who retired after a career of nearly 40 years in banking. Tan spent two decades at HSBC in senior roles, including the past seven years leading HSBC’s Global Private Banking business in Asia Pacific. He will remain as an advisor to the business until March 2024.

Yim has almost three decades’ private banking and capital markets experience. He was at Deutsche Bank for 16 years, most recently as CEO, Hong Kong SAR. Yim is based in Hong Kong and reports to Annabel Spring, CEO, Global Private Banking and Wealth, on a functional basis, and Kai Zhang, head of Wealth and Personal Banking, South Asia on an entity basis.

Hong Kong
Kenny Ng joined RBC Wealth Management as managing director, team head in Hong Kong, reporting to Ignatius K K (Iggy) Chong – head of enterprise private clients, Asia and interim market head, Greater China.

Ng previously worked at Credit Suisse where he was director, cluster head, and prior to that DBS Bank where he was a private client desk head. 

Three additional relationship managers joined RBC Wealth Management, in Singapore. They report to Shaun Lim – managing director and market head, North Asia to work with clients and prospects from Taiwan and mainland China markets.

Charles Hsu joined RBC as a managing director, relationship manager. Most recently Hsu was cluster head, executive director at Credit Suisse covering the Greater China Market. 

Denise Toh, who joined as a managing director, relationship manager, has 28 years of banking experience, most recently as senior relationship manger, executive director, Greater China Market at Credit Suisse. Previously, Toh worked at Citibank.

Cheryl Ang, who joined as an executive director, relationship manager, has more than 20 years’ experience, most recently as executive director, Greater China Market at Credit Suisse. 

Bank of Singapore appointed Samuel Huen as global head of legal and regulatory compliance. Huen reorts to Jason Moo, chief executive. Huen took on the responsibilities of global head of legal, Eric The, and global head of regulatory compliance, Adriel Loh. Teh will be retiring in 2024, while Loh will focus on his role as OCBC’s group head of regulatory compliance. 

A Singaporean national, Huen previously spent 18 years with UBS, where he was a member of the Singapore management committee and, in his last six years, he led group legal for Singapore.

Nitin Singh started as head of Barclays Private Bank Asia, based in Mumbai. The role is a new one for the UK bank. Singh overseess the Barclays private banking business in Singapore and India. Most recently, he was managing director and CEO of Mumbai-based Avendus Wealth Management. Previously, he served in several leadership roles at Standard Chartered and HSBC in the UK and India, the bank said. He reports to private banking CEO Jean-Christophe Gerard and APAC head Jaideep Khanna. 

Singapore-based head of private banking Evonne Tan changed her reporting line from head of UK international private bank, James Penny, to Singh. Sandeep Das, head of private clients in India, left the bank to pursue another opportunity.

Hang Seng Bank appointed Regina Lee as head of commercial banking and a member of its executive committee. Lee succeeded Donald Lam, who assumed a senior role until his retirement in January 2024 after 21 years of service. Before this job, Lee was managing director and head of commercial banking at HSBC Singapore. 

Columbia Threadneedle Investments made two appointments in its Asia-Pacific business. It appointed Lucy Martin to the new role of vice president, responsible investment product specialist for the region while it also named Gregory Da Silva as product manager for APAC. Both individuals, who are based in Singapore, report to Sandra Cheng, chief executive for Singapore.

M&G Investments appointed an Asia-Pacific risk and compliance chief, Elaine Cheung. The role is a new one. Cheung most recently worked at rival fund management group Janus Henderson Investors, where she was involved in its risk, compliance and governance framework for APAC.

Sumitomo Mitsui Banking Corporation appointed Jeff Ng as head of Asia macro strategy for its global markets and treasury business. Ng, who is based in Singapore, has more than 14 years’ experience including roles at Deutsche Bank and Standard Chartered covering global markets as a strategist.

Natixis Corporate & Investment Banking appointed Abbas Rangwala in the newly-created role of head of mergers and acquisitions for Southeast Asia and India. Rangwala, who most recently was group head of mergers, acquisitions and business development at Bharti Enterprises, the Indian corporate, is based in Singapore. Rangwala reports to Miranda Zhao, head of M&A, Asia-Pacific, and Bertrand Guiot, head of real assets and investment banking, Southeast Asia and head of infrastructure fund coverage for APAC.

Ping An, the Chinese insurance group, appointed Michael Guo Xiaotao – current chief human resources officer – as its co-chief executive. It also accepted Jessica Tan’s resignation as co-CEO and as executive vice president. Guo joined Ping An Group in September 2019.

WRISE Group appointed Helen Lam as group chief operating officer, and Gaven Koh as group head of Risk & Compliance of WRISE Group. Lam oversees the governance and operations of the group, and Koh manages compliance-related requirements of internal and external stakeholders such as risk assessments, frameworks, policies and guidelines. Both report to Derrick Tan, chairman, WRISE Group.

S64, an alternatives and technology partner for asset managers and private banks, appointed David Hallifax as head of Australia and New Zealand. Halifax, who is based in Melbourne, has more than two decades of distribution and private markets experience.

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