A former Societe Generale Private Banking and Trust senior executive has joined a rival house as team head for external asset managers in the Southeast Asia region.

A former Societe Generale Private Banking and Trust senior executive has joined rival Credit Suisse as team head for external asset managers in the Southeast Asia region. He will work at the firm’s private banking and wealth management arm in Asia.

The new joiner is David Poh; he is based in Singapore and reports to Wolfgang Neumann, head of external asset managers for Asia-Pacific. He is responsible for driving and leading the EAM Southeast Asia business.

Poh replaces Stavros, Kofinas who has relocated to Credit Suisse's external asset managers team in Switzerland after spending more than five years in Singapore.
 
At Societe Generale, Poh was the regional head for investment advisors, discretionary portfolio management and asset allocation. oh has more than 18 years of business and wealth management experience across multi asset classes and geographies, holding senior leadership positions in various multi-national financial institutions, the Swiss bank said in a statement.
 
Credit Suisse has more than SFr100 billion ($111.4 billion) in assets under management that are booked by EAMs [external asset managers] with the bank and over 400 employees worldwide in 15 locations.

A report by Julius Baer, another Swiss bank, earlier in July noted that the number of independent asset managers in Hong Kong and Singapore will rise by 50 per cent and 25 per cent by 2020, respectively, while both centres will be home to 130,000 individuals each by next year, holding $1.3 trillion of assets.

Poh’s departure from SocGen’s Asia private bank is not the first of its kind since that entity was sold by its French parent to Singapore-headquartered DBS earlier this year. In April, this publication exclusively reported that the head of the Hong Kong business at Societe Generale’s private bank, Alex Fung, was leaving the French banking group.