The latest senior wealth management and legal practice moves from across Asia.

HSBC Private Banking
Sock Leng Ang, who has been head of credit advisory, Southeast Asia for HSBC Private Banking, has left the bank, this publication can confirm.

This publication is checking Sock Leng Ang’s future plans, and may update in due course.

As reported earlier in August, HSBC’s wealth and personal banking business, which covers its private bank, added around 600 full-time employees during the first half of 2021, including 350 personal wealth planners for HSBC Pinnacle, the bank’s mobile personal wealth planning service in mainland China. The bank said that it will recruit 100 additional HSBC Pinnacle wealth planners, more than originally planned. It also said that it remained on track to hire over 1,000 client-facing wealth staff in Asia by the end of 2021.

The wealth and personal banking arm of Hong Kong/UK-listed HSBC, notched up adjusted pre-tax profit of $3.864 billion in the six months to 30 June, more than double from $1.66 billion a year ago.

XREX, Standard Chartered
Taipei-based XREX, a fintech using distributed ledger technology, has appointed former Standard Chartered figure Christopher Chye as managing director of its Singapore business and director of product. 

In this dual role, he will oversee XREX's businesses and operations in Singapore and bring new value propositions to XREX's clients.

Prior to this, Chye worked in commercial banking, consumer banking, wealth management and financial crime compliance at Standard Chartered. 

Founded in 2018, XREX said it has the “mission of driving financial inclusion in emerging markets by leveraging blockchain technology.” XREX is supported by a consortium of global investors comprising publicly-listed companies, major banks, venture capital firms, and top fintech investors from the US, Singapore, Hong Kong, Japan, Canada, Germany, Estonia, and Taiwan. 

“Singapore has a mature and clear regulator framework for the digital currency industry; XREX is looking forward to working with Christopher to expand our services in Singapore and beyond,” Winston Hsiao, chief revenue officer and XREX co-founder, said. 

Before joining Standard Chartered, Chye was a management consultant with KPMG.