People Moves

Summary Of Executive Moves In Asia-Pacific Wealth Management - December 2015

14 January 2016

Summary Of Executive Moves In Asia-Pacific Wealth Management - December 2015

Although the holidays slightly reduced volume of moves, the Asia-Pacific wealth management jobs market saw significant moves, such as at Standard Chartered and BNP Paribas.

State Street Global Advisors, the asset management arm of US-listed State Street, appointed June Wong as senior managing director and head of its Asia ex-Japan business. Based in Hong Kong, Wong joins the firm in March and will be responsible for further developing and implementing the regional business strategy and growth plans covering important and new investor segments across the North Asia and South East Asia regions. Wong will report to Lochiel Crafter, head of State Street Global Advisors’ APAC business. Previously at Columbia Threadneedle, Wong served as vice chairman for Asia-Pacific and chief executive of the Hong Kong business. 

Hang Seng Bank  appointed Patrick Chan as head of Greater China. He reports to the bank's vice-chairman and CEO, Rose Lee. Chan focuses on growing the mainland China and cross-border business of the bank. Chan first joined Hang Seng in 1995 as assistant general manager and head of the financial control division.

Australia and New Zealand Banking Group appointed Graham Hodges as acting chief financial officer from next year, holding the position for an interim period as previous post-holder Shayne Elliott moved to become chief executive. Hodges has been deputy chief executive; in his new role he took over all aspects of finance along with group strategy, legal, treasury, investor relations and mergers and acquisitions. He held his current role from May 2009. 

Old Mutual International, part of the UK's Old Mutual Wealth, appointed Mike Leeson as head of distribution development, returning from Asia. He was the firm’s head of sales in Hong Kong and North East Asia. Leeson works across the international business leading transformation activities. He also manages relationships with global key accounts. Mark Christal, the firm’s general manager in Hong Kong, expanded his role to become head of region, North East Asia, and chief executive for Hong Kong. He has been with the group for 20 years, spending 11 of these in Hong Kong.

New York-based investment banking advisory firm Evercore hired Yong Seok Lee to its Hong Kong office as part of its private funds group team. Lee covers limited partners and general partners in the Asia-Pacific region, focusing on South Korea. Specifically, he will help Asian clients build their private markets portfolios. He joined from UK-based Campbell Lutyens, where he was a founding member of its Hong Kong office. Lee has over 15 years of experience in financial markets, working in Seoul, Hong Kong and New York.  

Michael Benz, global head of private banking at Standard Chartered, resigned from the banking group; he was replaced by former Barclays senior executive, Didier von Daeniken.

Von Daeniken is based in Singapore and reports to Anna Marrs, CEO, commercial and private banking, joining in March. This newly-created global role combines the leadership of Standard Chartered’s private bank and wealth management product and advisory services.

In February 2014, Benz was appointed to his latest role and has been based in Hong Kong.

Von Daeniken previously led the private banking business for Asia-Pacific, Middle East and Africa at Barclays. He held that post from 2007. Prior to that, he held senior roles at Credit Suisse in Europe, Middle East and Asia, working in Singapore from 2002.

Australia-based wealth management firm Omniwealth appointed Atle Crowe-Maxwell as chief operating officer and director of its new business advisory service. Crowe-Maxwell, an accountant by training, was previously a corporate recovery partner at BDO.

Union Bancaire Privée announced a new head for its Asia business. Michael Blake relocated to Asia to head the firm. David Lam, Coutts’ head of North Asia, and Ranjit Khanna, the bank’s head of South Asia, Middle East and global non-resident Indian (NRI), both continue to report to Blake.

BMO Global Asset Management named Ravi Sriskandarajah as managing director and head of Asia-Pacific. Sriskandarajah joined BMO Global Asset Management in 2013 to lead its expansion into Australia and has more than 15 years of asset management experience in senior roles. He replaced Amit Prakash, who was appointed managing director, global exchange traded funds and alternative investments at BMO Global Asset Management. In his new role, Sriskandarajah is responsible for management oversight, governance and leading the organisation's growth strategy across the region. Based in Hong Kong, he reports to Barry McInerney, co-chief executive of BMO Global Asset Management, and Albert Yu, chief executive, Asia, of BMO Financial Group.

Eastspring Investments appointed industry veteran King Lun Au as chief executive, Hong Kong. Au joined from BOCHK Asset Management, where he was CEO for the past five years. He brings almost 30 years of industry experience.

Bank of Singapore has a new head of its representative office in the Philippines after its previous chief, Kristen Quintos, retired. Quintos was succeeded by Manuel Go Ahyong, a banking veteran with close to 30 years of international and local experience. He has served in senior capacities at Citibank, American Express Bank, Banque Indosuez and Deutsche Bank. He joins Bank of Singapore from Rizal Commercial Banking Corp, where he was head of its wealth management group.

International auction house Bonhams made two senior appointments to its art teams, both of whom carry expertise about the Asia art world. 

Ingrid Dudek joined as department director of Bonhams’ Modern and Contemporary Art, Asia and will be based in Madison Avenue in New York from February 2016. Dudek is responsible for building the consignment and buyer base in the US for the Hong Kong sales of Modern and Contemporary Art.  She is also responsible for growing the consignment and buyer base in Asia for Post-War and Contemporary Art sales in New York. Previously, Dudek worked at rival auction house Christie’s, where she was vice president and international senior specialist in Asian 20th Century and Contemporary Art from 2006-2015.

In the second appointment, Ryo Wakabayashi joined the firm as senior specialist – Modern and Contemporary Art, Asia. Wakabayashi will be based in Bonhams’ Tokyo office with immediate effect. Prior to joining Bonhams, Wakabayashi worked at Mizuma Art Gallery, the Japanese contemporary art gallery, where he held senior positions since 2001. He was appointed CEO in 2007. Wakabayashi has been a consultant for several international Asian auction houses.

TH Real Estate, the specialist property investment firm owned by US financial services group TIAA-CREF, appointed a head of research for Asia-Pacific. Harry Tan, who had been working as head of research for Grosvenor in Hong Kong, shifted southwards to Singapore for the new role, in which he reports to Chris Reilly, managing director for Asia-Pacific. Tan is responsible for providing strategic advice to the corporate business and its clients, working with global investment, client capital, and business development teams across the local Asia-Pacific businesses. At Grosvenor, Tan was head of research from 2007.

BNP Paribas Wealth Management made a number of Southeast Asia appointments – all newly-created roles - with several coming across from UBS. Inge Kua assumed a new role of senior advisor to Stephanie Lair, who is head of Singapore, Indonesia and Malaysia Markets, in addition to the former’s position as senior banker. Kua is a veteran of 23 years with the bank. 

Meanwhile, Jonathan Ng was named managing director, market leader for Indonesia, reporting to Lair. Ng leads the Indonesia market team and has more than 20 years of industry experience; he was recently an executive director and desk head for Indonesia ultra high net worth division at UBS.

Another former UBS manager who joined BNP Paribas is Sharon Yee, working in Ng’s team as team head for Indonesia. She has 13 years of experience in wealth management and banking industry. She joined from UBS having served ultra high net worth clients in Indonesia and was actively involved in growing the focus with family office clients.

JP Morgan appointed Kam Shing Kwang as senior country officer for Hong Kong. Kwang maintained her responsibility at the private bank after assuming the new role. She has worked with the US-headquartered bank for 17 years; most recently, she was managing director and market manager for Hong Kong, China and sponsors for the Philippines and Thailand of JP Morgan Private Bank.

Credit Suisse's private bank replaced Tee Fong Seng as head of Greater China and made a number of other top-level moves. The replacement was Francois Monnet, previously chief operating officer for private banking Asia-Pacific. Monnet is based in Hong Kong, reporting to Francesco de Ferrari, head of private banking Asia-Pacific.

Tee remained as CEO of the Hong Kong branch and maintained his existing additional role as vice chairman for private banking Asia-Pacific.

Monnet joined Credit Suisse in 2007 as head of private banking Southeast Asia and Australasia; in 2010 he assumed a new responsibility as head of the ultra high net worth area for the Southeast Asia private banking, Australia and Japan units. Prior to joining the firm, he managed the offshore core affluent client segment in Asia-Pacific at UBS, with an additional focus on the Singapore domestic market. He also worked for UBS in Zurich in mergers and acquisitions.

Separately, Alex Wade was appointed as head of private banking Australia, following the retirement of Edward Jewell-Tait. He is based in Sydney and reports to John Knox, CEO of Australia, and Ferrari.

Wade was head of Australia and Asia-Pacific Switzerland (that was a business team booking Asian clients in Switzerland). He has over 15 years’ experience in the banking industry in Hong Kong, Singapore and Australia.

Balakrishnan Kunnambath joined Credit Suisse as a managing director and market group head, non-resident Indian Asia-Pacific, based in Singapore. He reports to Martin Künzler, head, Japan and Indian Sub-continent, and to Rajan Sehgal, head of international wealth management Indian Sub-Continent, NRI and Africa, for strategy and market management related matters. He joined Credit Suisse from DBS Private Bank, where he was managing director and the NRI head, covering Asia-Pacific and the Middle East NRI markets and overseeing over 30 relationship managers. Kunnambath brings over 30 years of experience in financial services, including 10 years with Société Générale in Singapore.

ABN AMRO's private bank said Feroze Sukh, who was previously desk head for international clients, North Asia based in Hong Kong, left the bank. Sukh went to Bank J Safra Sarasin. Sukh has also previously worked at Deutsche Bank.

HSBC appointed Montgomery Ho as its Guangdong chief executive. A management team in Guangdong is also in the process of being hired. Since joining HSBC in 1983, Ho has held a number of positions in trade finance, strategy and planning and corporate banking. In October 2010, Ho became managing director and head of commercial banking for China.

Register for WealthBriefingAsia today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes