Schroder Investment Management is seeking a private bank salesperson in Singapore to replace Gerald Koh, who will depart on March 11, AsianInvestor can reveal.
He had joined the UK firm in May 2015 as a director covering private banks in Singapore, reporting to Albert Tse, head of intermediary business for Southeast Asia and private bank distribution for Asia.
The firm declined to comment on Koh’s departure, apart from to confirm they were looking to replace him. AsianInvestor could not ascertain where he might be heading.
Before joining Schroders, Koh spent several years covering private bank distribution at US bond fund house Pimco in Singapore.
Including Tse, there are now four people in the Schroders private bank distribution team in Asia – two in Singapore and two in Hong Kong.
Asset managers have reported rising fund sales through private banks in Asia in recent years. Several have beefed up their coverage accordingly in that segment and intermediary distribution in general.
Firms to have done so in the past couple of years include Axa Investment Managers, BlackRock, Goldman Sachs Asset Management, JP Morgan Asset Management, State Street Global Advisors and T. Rowe Price.
Koh's departure follows the appointment this month of Vincent Chan as Schroders' first Asia head of multi-asset product strategy, who was previously head of asset allocation at Singapore-based insurer NTUC Income.