DBS Private Bank has hired Peter Triggs from Bank of China (Suisse) to lead a five-strong team serving international high-net-worth individuals eager to invest in Asia’s growth story.
The firm announced yesterday that Triggs, 57, is to start next month as managing director and head of international and wealth structuring, based in Singapore.
He will lead a newly created team featuring new hires Yann Mocellin and James Tan, while DBS Private Bank added that two further relationship managers are due to come on board in May.
It represents the second time this year that DBS Private Bank has made a senior hire from a Chinese bank, having named Yvonne Hsin from China Construction Bank as its head for North Asia in January.
Triggs will report to Tan Su Shan, group head of wealth management for DBS Bank, who in a statement points to Asia’s growing appeal as an investment destination to the international HNWI segment as the chief reason for establishing the new team.
Most recently Triggs worked as deputy CEO and head of international private banking for Bank of China (Suisse), based in Geneva (which DBS notes was the first international private banking office to be established by a Chinese bank outside of Asia).
Prior to that he was at Citigroup Private Bank for 19 years in Jersey, Zurich, Geneva, London and Asia, including as head of private banking for Singapore and Malaysia.
Joining Triggs’s team is Mocellin, who had worked at multi-family office Swiss-Asia Financial Services as managing partner and head of wealth management, and Tan, who had spent the past seven years at Credit Suisse, most recently as senior vice-president of investment consulting.
DBS is among the top 10 private bank distributors of investment products in Asia ex-Japan, according to a recent report by Haymarket Intelligence.
As at the end of last year, DBS Private Bank managed a total of $38 billion in assets for high-net-worth individuals and had 450 private banking staff across the region.