People Moves
Summary Of Asia-Pacific Wealth Management Moves – June 2024
A round-up of moves in the Asia-Pacific wealth sector during June.
Citi appointed Matthew Hung as head of corporate banking for Hong Kong. Hung drives the business performance and strategy for Citi’s corporate banking business in Hong Kong, including local corporates, public sector organisations, financial institutions and multinational clients in the market. He reports to Kaleem Rizvi, head of corporate bank for Japan, North Asia and Australia, and Aveline San, Hong Kong and Macau CEO and head of banking. Hung has over 20 years of experience of banking for Hong Kong and mainland Chinese clients including multinational companies. Previously, he was at HSBC where he served in several senior roles, including head of corporate coverage for Hong Kong.Given Citigroup's integrated business model, the corporate banking side of the lender typically works closely with the private banking arm, given how many high net worth and ultra-HNW clients own operating companies.
Indosuez Wealth Management appointed a new CEO for its Hong Kong branch – Michaël Kofman. Kofman succeeded Olivier Livenais, who has been in the role since early 2020. Kofman relocated from Geneva to Hong Kong and reports to Omar Shokur, Indosuez’s CEO for the Asia region. At the Crédit Agricole group since 2002, Kofman has been at the Indosuez business for more than 13 years and in the financial services sector for three decades.
Northern Trust Asset Management, appointed Naoto Komoro to lead its asset management business in Japan. Komoro is continuing in his role as head of Institutional Client Group, Japan and became the representative director and chair of the board of Northern Trust Global Investments. Komoro reports to John McCareins, head of International, Northern Trust Asset Management and Bert Rebelo, head of Institutional Client Group, Asia Pacific, at Northern Trust Asset Management.
Since joining Northern Trust in 2007, Komoro has worked in senior roles across portfolio management, client management and sales in the manager’s London and Tokyo offices. Prior to NTAM, he spent six years at Mizuho Trust & Banking Co.
Australian life insurer TAL, which is part of Japan’s Dai-ichi Life Group, appointed Fiona Macgregor as its new group chief executive and managing director. In the financial services sector for more than two decades, Macgregor spent the first part of her career with the Royal Bank of Scotland, building experience on innovation in the European, US and Asian markets. She has also worked as an independent consultant.
Citigroup launched a commercial banking arm in Japan. The Japanese business is led by Yutaka Naito, who joined the US banking group in 2019.
Natixis Corporate & Investment Banking (Natixis CIB) appointed Arnaud Davoust as head of equity derivatives sales and structuring, Asia-Pacific. Based in Hong Kong, Davoust reports to Eric Elbaz, head of sales and structuring, Asia-Pacific and globally to Guillaume Calvino, global head of equity structuring. Davoust spent five years at Bank of America in Singapore where he was head of equity derivatives sales and structuring for APAC and head of equities for Southeast Asia.
S64, a global alternatives fintech and solutions partner to the wealth management industry, appointed Marcus Glover as chief technology officer. With more than 25 years' experience in technology across wealth management, asset management and investment banking, Glover delivered transformational client-facing digital platforms for major financial institutions including Morgan Stanley, UBS, Deutsche Bank, and the Bank of Singapore.
UOB Thailand appointed Richard Maloney as its new chief executive officer. He succeeded Tan Choon Hin, who had led UOB Thailand since 2016. Tan returned to Singapore to take on a new role as deputy head of group governance, risk and compliance. Vira-Anong C Phutrakul was appointed as head, wholesale banking and deputy CEO of UOB Thailand. Maloney is an industry veteran with 40 years of experience in wholesale banking, capital markets and retail banking. Since joining UOB in 2014, he has been chief operating officer, group wholesale banking. Prior to UOB, Maloney was chief operating officer for ASEAN at a global bank.
Franklin Templeton appointed former BNP Paribas Wealth Management figure Gaurav Bathija to the newly-created role of head of private banks and family offices. Bathija is based in Singapore and reports to Christian Bucaro, head of wealth for Asia at the US-headquartered firm.
Former Citi Private Bank figure Lynn Ong joined Bank of Singapore, at its family office and structuring solutions business – a new group. The entity sits inside BoS’s financial intermediaries, family office and wealth advisory unit. Ong focuses on engaging clients with family office advisory needs and developing Bank of Singapore’s strategic initiatives for single family offices. Ong reports to Guo Jiawen who heads the family office and structuring solutions business. Prior to this, Ong advised global ultra-high net worth families on family office and philanthropy planning and structuring across Singapore and Hong Kong, as well as formulated strategies for the family office client segment at Citi Private Bank.
Azura Partners, a global investment office working with family offices and ultra-high worth individuals, appointed former senior Credit Suisse figure Pauline Cahill as chief people officer. Cahill has more than 30 years' experience of international HR. Joining Credit Suisse in 2006, Cahill served as a member of the management committee for the Middle East, Turkey and Africa business. Prior to this, she served in senior HR roles for Merrill Lynch and KPMG.
BlackRock named Yik Ley Chan to lead its private credit efforts in Southeast Asia, based in Singapore. With 16 years’ experience in financial services, Chan has spent more than 13 years of them in structuring private credit and financing solutions. He was most recently Asia head of private credit at Jefferies, where he oversaw markets in Southeast Asia including Singapore, Malaysia, Vietnam, Indonesia and the Philippines.
Bank of Singapore appointed a chief portfolio strategist – Dr Owi S Ruivivar, an investment manager with more than three decades’ experience in economics, strategy and portfolio management. Dr Ruivivar, who is based in Singapore, reports to the lender’s global chief investment officer, Jean Chia. Prior to this, she worked at Singapore sovereign wealth fund GIC. Since January this year, the chief investment officer has been a standalone unit that reports to chief executive Jason Moo.