JPMorgan has appointed E Michael Fung as the bank’s new CEO and managing director of its Asia Pacific private banking division.

Prior to this , Fung spent 15 years at Morgan Stanley where he served as the managing director and head of private wealth management in Asia Pacific. He also worked on institutional fixed income distribution in Japan and Hong Kong.

E Michael Fung“Asia Pacific is an important and growing market for the JPMorgan private bank,” says Maria Elena Lagomasino, chairman and CEO JPMorgan’s global private bank. “Michael will take the leadership role in harnessing our global resources to deliver a broad array of wealth management capabilities for our Asia clients and will continue our efforts in expanding the private bank’s presence across the region.”

As well as being a private banker, Fung is also one of the shareholders in a number of bars around Exchange Square (Exchange Bar and Grill, the Cigar Bar, and CreAsian Net Seafood Bar). JPMorgan clients are now getting cut-priced meals there.