The Geneva-based group said that the head of its Asian asset management arm is standing down for personal reasons; it has announced a replacement.

Union Bancaire Privée has appointed Wee Ping Nah as chief executive for its Asian asset management business. He is taking over from Ted Holland, who is moving back to the US, his home country, for personal reasons. 

Wee Ping Nah will report functionally to Nicolas Faller, co-CEO for asset management and head of institutional clients, and regionally to Michael Blake, regional Asia head and CEO for Asian wealth management.

Wee Ping Nah has more than 25 years’ experience working for major financial institutions across Asia, including Goldman Sachs, Credit Agricole Asset Management, and Fortis. In the last decade, he ran the Asia business of AGF Investments Asia and then of Eureka Capital Partners in Hong Kong, as well as founding and selling his own asset management consulting firm. He is fluent in English, Chinese, Japanese and Malay.

Holland is leaving the bank after a career with UBP of 10 years. During a transition period, Holland will work with Wee Ping Nah until the handover is complete. After which, Holland will become an independent part-time advisor to UBP Asia Asset Management.

“I am confident that our Asia Asset Management franchise is in a very strong position to be a key performance driver under his leadership. We also want to thank Ted for his commitment and contribution to UBP over the years and are happy to be able to continue working with him in the future. We wish him every success in his professional and personal endeavours,” Faller said.

In January, Union Bancaire Privée reported an 8.8 per cent rise in assets under management for 2021, reaching SFr160.4 billion, while revenues at the Geneva-based bank rose 5.9 per cent to SFr1.134 billion ($1.24 billion).