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VP Bank Makes Senior Hires Across Asia
Tom Burroughes
24 May 2022
Liechtenstein-based has appointed several senior Asia executives, including the head of its Singapore branch. Along with other appointments (see below), VP Bank has been expanding its Asia-Pacific footprint; it interviewed Reto Marx, head of Hong Kong, about the firm's strategy. VP Bank has been promoting its Asia business links along a number of fronts. For example, Hong Kong-based wealth management firm, Hywin Holdings, has partnered with VP Bank. In 2021 VP Bank and its sister businesses signed a pact with Hywin Wealth Management and associated entities to build an offshore platform pitched at wealthy Chinese clients. This partnership approach is not unique to VP Bank, of course. Other firms such as Julius Baer, Schroders and Bordier, to name just three, have done the same in order to tap local expertise. Time will tell how well all these arrangements work out.
The bank has named Johnny Heng as head of the Singapore branch, effective 1 June. He will report to Asia CEO Pamela Hsu Phua. Heng, whose appointment is subject to regulatory approval, has worked for more than 25 years in the financial services industry. He has international investment and management experience spanning London, New York and Singapore. Prior to joining VP Bank, Heng worked for Equities First Holdings, Nomura Singapore, Coutts & Co, and Credit Suisse Private Bank.
Heng has also served in senior investment roles in a sovereign wealth fund and a single-family office, leading the investment teams through numerous market cycles such as the "dot.com" bubble and the last global financial crisis.
Veronica Ong is joining as regional lead, marketing and communications Asia, reporting to chief of staff Asia, Heline Lam. Ong is a marketing and communications professional with more than two decades of experience. Previously head of marketing, Southeast Asia for Credit Suisse, she has worked for organisations such as Coutts & Co and the Monetary Authority of Singapore.
Kenneth Chan is joining as the head of intermediaries for Hong Kong, effective 1 June. With over 30 years of financial services experience, he will report to Marx. Prior to joining the Hong Kong office, Chan worked for EFG Bank, UBS, Pictet & Cie (Europe), Standard Charted Private Bank and DBS Hong Kong.
Alice Chan, who is joining as a relationship manager, effective 1 June, will report to Kenneth Chan. Joining from EFG Bank AG, she has previously worked for UBS in Hong Kong, Standard Chartered, DBS Bank and ICBC.
Karen Ho is joining as an RM, effective 27 June. With close to 20 years of banking experience, formerly from EFG Bank, she will also report to Kenneth Chan. Prior to joining EFG Bank AG, Ho held various banking positions at UBS AG, HSBC, Citibank, and AIA.