Crédit Agricole loses HK MD, adds investment adviser
It is understood that Sophie Gillot, managing director in Hong Kong, has left Crédit Agricole Private Banking after some 17 years with the French firm.
Crédit Agricole declined to comment on Gillot's departure, and AsianInvestor could not ascertain her next move by press time. She had joined the firm in 1997, according to her LinkedIn profile.
Meanwhile, the private bank has appointed R Gnanasekaran in the newly created role of senior investment adviser in Singapore.
Gnanasekaran joined last month from Barclays Wealth in Singapore, which he joined in 2009 according to his LinkedIn profile, and where he was most recently senior investment adviser.
His remit is to support the delivery of personalised and tailored investment solutions. He reports to Sen Sui, head of Singapore branch, and Simon Ip, head of markets and investment solutions in Singapore.
AsianInvestor could not confirm whether Barclays had found a replacement for him.
Gnanasekaran has previously worked for Chase Manhattan Bank, Smith Barney Asset Management and Coutts Bank.
Crédit Agricole Private Banking managed $125 billion in client assets as of the end of 2013.
UOB names new private bank head
UOB named Ong Yeng Fang from Julius Baer as its new head of private banking late last month. She has replaced Wilson Aw, who is now chief operating officer at UOB Private Banking.
It is understood that Aw had been acting head of private banking, despite the fact that he had held that role for some three years or more, according to media reports quoting him in that position as far back as July 2011.
Ong reports to Eddie Khoo, head of UOB’s personal financial services and private banking division.
Ong was managing director for private wealth management at Julius Baer, which declined to comment on whether she has been or will be replaced.
UOB also declined to comment on her appointment.
Before moving to the Swiss bank, she was a senior adviser at Merrill Lynch Global Wealth Management; the latter firm was acquired by the former last year.
Prior to Merrill, she was with Julius Baer from August 2006 to February 2010 and before that spent 17 years with Singapore’s DBS.
DeAWM names Japan real estate head
Deutsche Asset & Wealth Management has appointed Koichiro Maeda as Japan head of real estate.
He joined last month from Prudential Real Estate Investors, where he had worked since May 2011 and was most recently managing director of portfolio management. As of press time, Prudential Real Estate Investors had not confirmed whether Maeda has been or would be replaced.
Akira Tsuruoka was at one point – as recently as December 2012 – Japan head of real estate, but DeAWM declined to say whether he was the last in that post before Maeda or when he moved on from that role.
Before Prudential, Maeda had worked for Mitsubishi UFJ Morgan Stanley Securities, Morgan Stanley, Mitsui Fudosan Investment Advisors and Mitsui Fudosan.
“This appointment reflects the strategic importance of our real estate platform in Japan and our continued commitment to the region,” said Pierre Cherki, head of alternatives and real assets for DeAWM.
The firm's property unit managed assets of $48.3 billion globally as of the end of March.
Parthenon, EY to combine
Global strategy consultancy Parthenon Group has signed an agreement to combine its operations worldwide with EY. Parthenon provides services for corporations, private equity firms and not-for-profit institutions.
“The agreement signed will see all Parthenon Group professionals join EY on closing. Both sides are moving towards a close as soon as possible,” said Bob Partridge, who leads EY’s Greater China transaction advisory services.
Parthenon’s staff of 300 people will be combined with the 300 people that staff EY’s commercial advisory services arm. The new team will be led by Parthenon chairman and managing partner Bill Achtmeyer.
Parthenon operates offices in Boston, London, Mumbai, San Francisco, Shanghai and Singapore.
Withers boosts wealth practice team
UK-based law firm Withers has made several staff changes.
Tax and estate planning specialist Stacy Choong joins the wealth planning practice as a partner Singapore.
She was most recently a managing director at JP Morgan Private Bank’s wealth advisory team in Singapore, where she advised high-net-worth clients on estate and succession planning and wealth protection.
Prior to that, she was a partner in Singapore law firm Rajah & Tann’s tax and private client team, which she joined in 2008.
Withers has been expanding its wealth planning practice recently. Appointments include Connie Yik Kong and Suzanne Johnston in Singapore, and Karen Lai and Wei Zhang in Hong Kong.
Withers has also hired Michelle Chow as a Hong Kong-based adviser on charity and philanthropy law and filled several other partner positions through the promotions of Philip Munro and Fernando Gandioli in Singapore and Timothy Burns in Hong Kong.
It has also added Mark Lanning to its immigration practice, as director of immigration in Hong Kong. He joins from the US Consulate in Hong Kong, where he advised wealthy individuals and companies on visa and other US investment regulations.
Other people news reported on AsianInvestor this week: