The newly appointed figure is taking over from a predecessor who has retired. The bank said it is taking its Greater China strategy up another level.

DBS in Hong Kong has appointed Peter Tung as head of private banking for Greater China, taking over the reins from Januar Tjandra, who has retired. 

Tung is responsible for managing and developing DBS' private banking business in Hong Kong, Macau, Mainland China and Taiwan. He brings 26 years’ experience to the job, including more than 17 years with Morgan Stanley Asia Private Wealth Management. 

In another stint, Tung was also head of the ultra-high net worth Greater China business at UBS Wealth Management, for over four years. Prior to DBS, Tung was a partner at Venturous Capital, a family office specialising in smart city technology investments.

“As we take our position as a leading wealth manager in Hong Kong and Greater China to the next level, it is important to build leadership bench strength in the bank. Peter is an industry veteran, and brings with him a deep understanding of the needs of high net worth individuals and families, which is invaluable as we seek to further grow our wealth management business and enhance our strategic capabilities,” DBS Hong Kong CEO Sebastian Paredes said.