Credit Suisse has added two fund selectors to its Asia private banking and wealth management business, strengthening its coverage of exchange-traded funds and North Asia equity.
Tan Jun Lin joined in August in Singapore as the team's first dedicated ETF specialist for the region. In Hong Kong, Leung Wai-Kin has come on board as senior fund specialist for North Asia equity with a focus on China, South Korea and Taiwan.
This reflects a trend among some Western private banks to build up their local product teams in Asia and improve their coverage of regional investments, such as by creating custom fund lists for the region.
Tan previously worked at the Monetary Authority of Singapore as a portfolio manager for four years in charge of sourcing and evaluating new fund managers. MAS declined to comment on his departure.
Tan now reports to Rodolphe Larqué, Asia-Pacific head of mutual funds and ETFs, and Angie Lee, Singapore head of mutual funds and ETFs.
Prior to working for MAS, Tan was an M&A specialist with Japan's Sumitomo Mitsui Banking Corporation and Singapore-based DBS.
Leung joined Credit Suisse in July from HSBC Private Bank, where he was responsible for selecting mutual fund managers and tailoring portfolio solutions. Based in Hong Kong, he reports to Charis Wong, Hong Kong head of mutual funds and ETFs. HSBC declined to comment on his departure.
A Credit Suisse spokesperson said it has no immediate plans for further hires for the product team this year.
The group's private banking business in Asia reported total AUM of Sfr149 billion ($152 billion), up 16% year-on-year as of June 30. Net new assets from Asia Pacific was Sfr11 billion (up 11% over the same period), contributing to 68% of total NNAs generated by wealth management clients worldwide.