The former Asia head of Swiss private bank Union Bancaire Privée, Stephan Repkow, has launched a new wealth management platform based in Singapore, AsianInvestor can confirm.
Repkow, who left UBP this June after four-and-a-half years at the firm, is listed as the founder and chief executive officer of Wealth Management Alliance (WMA), a privately held company with a handful of staff.
The company’s website is still under construction, although in an initial outline the firm describes itself as an independent and integrated wealth management platform, serving both as an external asset manager and multi family office.
It has been set up to operate as an incubator for single family offices and as an aggregator of independent private bankers and asset managers. It pledges transparency on fees and performance-driven remuneration.
AsianInvestor reached out to Repkow but he declined to be interviewed, saying he was not ready to talk about the new venture yet.
Repkow left UBP shortly after it announced the acquisition of Coutts International, the global private banking and wealth management business of the Royal Bank of Scotland, in March 2015.
The deal included businesses managed from Switzerland, Monaco, the Middle East, Singapore and Hong Kong that together managed more than SFr30 billion ($31 billion). Media estimated that UBP paid between $600 million to $800 million to secure the transaction.
Repkow was subsequently replaced as CEO by Eric Morin, as reported. Led by Morin, the integration of Coutts’ operations in Asia with UBP is in process and due to be finalised in the first quarter of next year. Repkow started as Asia head of UBP in February 2011 with a mandate to build the business. When he left, UBP had less than 50 staff, while Coutts has around 500 staff in Asia.
Prior to that Repkow was CIO and managing partner at Singapore-registered Swiss-Asia Financial Services, a fund management and advisory company providing an external wealth manager platform for independent private bankers in Asia.
Repkow has a long track record in Asian private banking. He has worked with Deutsche Bank as head of private banking sales, Citi as managing director for its private bank, and at BNP Paribas as head of fixed income and treasury for Asia Pacific.