Weekly roundup of people news, July 15

Temasek unit appoints CIO; DBS PB opens UK office; StanChart PB reportedly hires Barclays' North Asia chief; Credit Suisse names HK trust head; BNP Paribas poaches from State Street; Mercer expands solutions business to Singapore; LGT PB hires MD from HSBC.
Weekly roundup of people news, July 15

Temasek unit names new CIO
Singapore-based Fullerton Financial Holdings (FFH) has hired Yeo Hong Ping from JP Morgan as chief investment officer, reports Bloomberg. 

FFH, a unit of state investment firm Temasek that invests in financial institutions in emerging markets, did not respond to requests for comment.

Bloomberg reported that Yeo would take up his duties in October. It did not say whom he would report to, nor whose duties he would be taking on.

Yeo had been Singapore head of investment banking at JP Morgan, and it is believed that his duties will be assumed by Rohit Chatterji, head of banking in Southeast Asia. JP Morgan declined to comment.

DBS Private Bank opens UK office
Singapore’s DBS Private Bank is opening an office in London and has hired Jeremy Parlons as UK market wealth management head.

The office will serve ultra-high-net-worth (UHNW) clients and family offices who are looking to Asia for their business or investment needs. 

Parlons has spent the last four years as director in the ultra-high-net-woth and family office group at Canadian firm RBC Wealth Management in London. Prior to that he spent nine years with Credit Suisse Private Banking in London. Paroles started his banking career in the private client division of Morgan Stanley in London.

The new office represents further expansion of DBS PB’s business following the acquisition of Société Générale's Asian private banking business in 2014.

DBS declined to say how many people would initially staff the office, whether it might set up offices elsewhere in Europe and how Britain’s June 23 vote to exit Europe would affect its business in the UK.

As of March 2016, DBS’s high-net-worth assets under management (HNWIs with at least $1.5 million ($1.12 million) in investable assets) and assets under management for all wealth customers stood at S$101 billion ($75 billion) and S$147 billion, respectively. 

Barclays loses North Asia chief to StanChart
Standard Chartered has hired Vivian Chan, formerly North Asia head of Barclays’ wealth management division, following the acquisition of the latter's Asia wealth business by Singapore’s OCBC, reports Asian Private Banker

It was not clear what her role would be at StanChart. Desmond Liu is currently head of Greater China and North Asia. StanChart declined to comment.

Chan will rejoin Didier von Daeniken, previously Asia head of wealth management at Barclays, who is now global head of private banking and wealth management at StanChart, as reported.

Chan had joined Barclays in July 2013 from Credit Suisse, where she was market leader for Greater China.

Barclays confirmed she had departed but did not comment further.

Srinivas Siripurapu is another executive to have joined StanChart from Barclays recently. Earlier this month he became head of private banking for Asean and South Asia and StanChart’s first global head for non-resident Indian business. 

Siripurapu was head of Southeast Asia, global South Asian community and Africa offshore at Barclays and resigned in January.

Credit Suisse names new HK trust head 
Credit Suisse has this month named Teddy Chu as Hong Kong head of trust and estate advisory, in which role he will run the wealth planning business covering the North Asia region.

He replaces Eleanor Yuen, who joined Swiss private bank Julius Baer in April as Asia head of wealth and tax planning advisory. 

Chu reports to Stefan Aegerter, global head of trust and estate advisory at Credit Suisse, and Rajesh Manwani, Asia-Pacific head of investment solutions and products.

Chu has 20 years’ industry experience. Most recently he worked at Deutsche Bank for six years as Hong Kong head of wealth planning, a post he left earlier this month. Before that, he worked in private wealth solutions at HSBC Private Bank in Hong Kong. 

Deutsche Bank did not comment by press time on whether he had been or would be replaced.

BNP Paribas SS poaches from State Street in HK
Lily Kwok has joined BNP Paribas Securities Services as head of business development and client solutions for Hong Kong. She took up her role in early July, reporting to David Raccat, head of market and financing services for Asia Pacific.

The company said the position was a new one, created as part of a drive to ramp up its securities lending and collateral business. It did not respond by press time to a query about whose remit the business development function in Hong Kong fell under previously.

Kwok previously spent 20 years with State Street in Australia and Hong Kong, most recently as Asia ex-Japan head of client services for State Street Securities Finance. She left that post in April, and her duties have now been split between other members of the team, said a State Street spokeswoman.

Mercer expands investment solutions business to Singapore
Investment consultancy Mercer has expanded its global delegated investment solutions offering into Singapore. Soon Kian Lee, principal and Asean head of investments at Mercer, will lead the new business. 

This follows Mercer’s launch of the business in Japan in the fourth quarter last year.

Soon joined the firm in 2006 and reports to Jeffery Schutes, Mercer’s growth markets investments business leader and global leader for alternatives. 

Soon will work closely with Amit Popat, business leader for the delegated solutions business for growth markets, who is also based in Singapore.

LGT poaches senior banker from HSBC
Liechtenstein private bank LGT has hired Michael Hua as managing director, relationship manager and team lead in Singapore. 

He joined from HSBC Private Bank, where he worked for 11 years, most recently as managing director in Singapore, covering relationship management teams in Malaysia, the Philippines, Thailand and Vietnam.  

It is understood that he has assumed similar market coverage at LGT. The bank declined to say whether Hua had replaced anyone. 

HSBC Private Bank declined to say whether Hua had been replaced. 

Other people news reported in the past week by AsianInvestor:

MFS plans China office, but not MRF entry

Man GLG adds EM debt quintet, shuns Asia bonds

HK broker banned for unauthorised trading

Bond veteran sets up mutual fund firm in Shanghai

Chinese hedge funds start-ups set out plans

Pimco hires first China property credit analyst

AQR opens in China, eyes China and Japan

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