People Moves
Who’s Moving Where In Wealth Management? – VP Bank, Capital Group, Citigroup
The latest senior wealth management moves, appointments and personnel changes in the Asia-Pacific industry.
VP Bank
VP Bank, the
Liechtenstein-headquartered bank, has recruited a former UBS
private banker to work in its external asset manager business,
this news service can confirm.
Josephine Koh, who is based in Singapore, holds the position of senior relationship manager.
"Her appointment underscores our continued focus on serving Intermediaries clients and growing our Intermediaries business in Asia," Michel Hofstetter, head of intermediaries and private banking for Singapore, VP Bank, said.
Capital Group
Capital Group,
which manages $3.6 trillion of client assets, and one of the
world’s largest investment houses, has appointed Summer Tang as
director, institutional business, Southeast Asia.
Tang will report to Lisa Leong, managing director, institutional business, Southeast Asia.
The firm has more than 9,000 associates and 34 offices worldwide.
Citigroup
The US bank said Sophia Wang has joined as managing director,
head of China financial institutional sales and senior
relationship management (SRM), based in Shanghai. She will report
locally to Jeff Wu, head of markets sales for China, and
regionally to Laiman Wong, head of SRM for JANA & Asia
South.
All Shanghai-based sales personnel covering financial institutions will now report to Sophia. Wang’s role involves leading institutional sales coverage across rates, spread products, foreign exchange, commodities, and equity derivatives, driving client engagement, cross-product and cross-border solutions, and support revenue growth with Chinese financial institutions.
Before Wang joined Citigroup, she spent 15 years at Bank of America Merrill Lynch in London as a managing director. She has also worked at Standard Chartered Bank in London, Hong Kong, and Shanghai.
While not strictly about wealth management or private banking, the side of the business being covered by Wang’s appointment is important for ultra-HNW clients of the US banking group which has operating companies with cross-border and capital needs.