VP Bank Announces Raft Of Singapore, Hong Kong Changes

Tom Burroughes

2 August 2021

Late last week, announced a number of changes to its Asia business, with arrivals and senior departures.

Singapore
Esther Fung has joined as a senior wealth planning specialist as an executive director, with immediate effect. Fung will support development and broadening VP Bank's wealth and succession planning solutions in Asia. Fung has more than two decades’ experience serving ultra-high net worth individuals and families. Prior to joining VP Bank, she worked for DBS, Equity Trust and BNP Paribas, and is a full member of the Society of Trusts and Estate Practitioners.

Thomas Jost will leave the bank from his role as head of intermediaries for Singapore to pursue other opportunities, with Markus Wolf stepping in to take over the role ad interim, with effect from 1 August. Wolf, who joined VP Bank Singapore in 2019, has more than 15 years of Asia private banking experience in strategy development and business management. He will report to the interim head of Singapore, Thomas Rupf.

Luca Kast will assume the newly-created role of business manager Asia, reporting to chief of staff for Asia, Heline Lam, with effect from 16 August. Deputy head of operations for Singapore, Kast has been with VP Bank for four years; in his new capacity, he will work with Lam to drive the strategic business initiatives for the region.

Karen Tan, head of private banking in Singapore, will continue to lead the private banking business, reporting to interim head of Singapore, Thomas Rupf.

Hong Kong
The VP Wealth Management (Hong Kong) business, said that after a 15-year career with the bank, Clare Lam would be retiring from her role as chief representative/head of Hong Kong on 30 September. She will assume the role of senior advisor, taking effect on 1 October (subject to the official appointment of the new Chief Representative/Head of Hong Kong).

Reto Marx will move from being head of intermediaries and private banking for Singapore to assume the responsibility of chief representative/head of Hong Kong, taking effect on 1 October. In his new role, Marx will relocate to Hong Kong and report to CEO for Asia, Pamela Hsu Phua.

“Through strengthening our team in Asia, VP Bank continues to be in a solid position to accelerate our growth in line with Strategy 2026. With Asia being a market of immense opportunities for VP Bank, we look forward to achieving greater success within the region,” Pamela Hsu Phua said.

As reported in late March this year, VP Bank and its sister businesses signed a cooperation pact with Hywin Wealth Management and associated entities to build an offshore platform pitched at wealthy Chinese clients. As part of the process, VP Bank acquired a 3.4 per cent stake in Hywin Holdco, a Nasdaq-listed structure.