RBC ADDS PAIR TO ASIAN WM TEAM
RBC Wealth Management has added two senior employees to its team in Hong Kong and has also made changes to its Singapore management.
Mike Reed took up his Hong Kong-based role as managing director, head of distribution strategy, Asia on September 18. He was previously based in London as RBC's managing director, head of multi-family offices.
Also in Hong Kong, Chen Yang started work as managing director, head of business strategy, Asia the same day. He was previously Toronto-based senior director, products and strategy at RBC Wealth Management.
The pair report to Peter Corry, Singapore-based head of RBC Wealth Management, Asia. A company spokesman said the roles of Reed and Yang were newly created, and the respective responsibilities were previously spread across the business.
Meanwhile Tho Gea Hong, has been appointed chief executive at RBC’s Singapore branch, in addition to her role as managing director, head of wealth management South East Asia. She also took up her role on September 18 and reports to Corry.
She will continue to lead the Singapore-based private banking team, in addition to heading up the business from a regulatory standpoint, a company spokesman said.
Tho has replaced Stefan Mueller as chief executive. Mueller was also previously chief operating officer of RBC Wealth Management, Asia, in addition to serving as chief executive in Singapore.
Effective September 18, Mueller has taken up the new role of managing director, next generation asset management for RBC Global Asset Management and is still based in Singapore. He will report to Damon Williams, Toronto-based CEO of RBC Global Asset Management.
Mueller's COO duties will be split between Tho and Juan Aronna, head of investment solutions and product, Asia, who will now oversee the investments team.
MANULIFE AM POACHES FROM UBS FOR WEALTH ROLE
Manulife Asset Management has poached a senior executive from UBS Wealth Management.
Effective September 18, Emmanuel Bucaille assumes the role of senior managing director, head of wealth solutions, wealth and asset management, Asia at Manulife AM. He reports to Michael Dommermuth, executive vice president and head of wealth and asset management, Asia. Both are based in Hong Kong.
This is a newly created position, according to a spokesman. Bucaille will have regional oversight in formulating, articulating and implementing wealth solutions as well as product strategies for Manulife.
Before Bucaille came on board, his duties were mainly shared between Michelle Ng, who leads the investment consulting services function, and Margaret Madden, who heads the product development team. Both now report to Bucaille.
Bucaille was previously the Zurich-based head, investment products and solutions, wealth management, global emerging markets at UBS Wealth Management, a role he left at the end of August, according to a company spokeswoman.
It is likely that there will be no direct replacement for the role because of team restructuring. The role is expected to be absorbed by the team, the spokeswoman said.
BANK OF SINGAPORE NAMES CHINA EQUITY STRATEGIST
Bank of Singapore, the private banking arm of OCBC, has hired an equity expert from UBS Wealth Management.
Effective September 11, Louisa Fok has become Hong Kong-based China equity strategist at Bank of Singapore.
A spokeswoman declined to say who Fok reported to and who previously held the position.
Fok was previously a Hong Kong-based equity analyst at UBS Wealth Management, chief investment office, and left the position in late August. Dennis Lam has filled the role, a UBS WM spokeswoman said.
CONTINEO POACHES SALES HEAD FROM SEB
Contineo, an equity-linked structured products platform, has named a new sales head to boost growth in Asia.
Effective Sept 18, Per Nordstrom has become the director, client engagement at Contineo and reports to CEO Mark Munoz. Both of them are based in Hong Kong.
This is a new role and Nordstrom will be building his team in the coming year, a spokeswoman said, without elaborating on the target size of the team.
Nordstrom was previously the Hong Kong-based head of fixed income, Asia at SEB, a position he left in September, according to his LinkedIn profile. SEB did not reply to AsianInvestor’s email query by press time.
STANCHART PB HIRES GREATER CHINA MD
Standard Chartered Private Bank has appointed Michelle Ho as managing director, Greater China and North Asia effective September 18.
In this newly created role, she will be based in Singapore and report to Teddy Kwong, market head, Greater China and North Asia, and Andrew Ho, market head, south and South East Asia.
She was previously managing director, team leader at Bank of Singapore.
Bank of Singapore declined to comment on Ho’s departure.
Ho’s hire is the latest in a string of hires for StanChart Private Bank as it continues to bulk up its Greater China and North Asia team.
It has hired more than 50 experienced bankers since the last quarter of 2016.
WTW NAMES LI TO EXPANDED HK, TAIWAN ROLE
Global advisory firm Willis Towers Watson appointed a former Chubb executive to fill an expanded executive role in the region, combining coverage of both Hong Kong and Taiwan.
Effective September 1, Albert Li became head of insurance consulting and technology in the two markets, managing the Hong Kong business while developing new opportunities in the Taiwan market.
Based in Hong Kong, Li reports to Richard Collis, managing director of the insurance consulting and technology business in Asia Pacific.
Li was most recently chief actuary with Chubb Life in Vietnam, leaving the insurance company in late July after his contract finished, according to a Chubb spokeswoman. Chubb confirmed that a replacement has been found, but declined to release the name.
Prior to his appointment, the Hong Kong insurance consulting and technology business was led by Isabelle Kerneuzet, according to a company spokesman. The advisory firm combined the role with the Taiwan market after her departure.
Willis Towers Watson has confirmed that Kerneuzet is no longer with the company.
Li has also worked as chief actuary and chief risk officer for American health insurance company Cigna in Indonesia, as well as actuary and executive roles in the US with Deloitte Consulting, New York Life Insurance Company, MetLife, and Guardian Life, according to his LinkedIn.
CBA NAMES NEW WEALTH MANAGEMENT COO
Commonwealth Bank of Australia has appointed Michael Venter as chief operating officer of its wealth management business, effective September 21.
CBA would not comment on who Venter was replacing in his new role, where he will be based or who he would report to. It also declined to comment on who would fill Venter's previous role as chief financial officer of international financial services, for which he was based in Hong Kong
In his new role, Venter, will also represent wealth management on the group executive committee after the departure of group executive of wealth management Annabel Spring.
Spring, who will be leaving in December, will continue to lead the wealth management businesses until her departure. CBA declined to comment further on Spring's departure.
Prior to serving as CFO of international financial services, Venter held a variety of executive roles in CBA, including CFO of wealth management, deputy CFO and EGM group finance, and general manager of group finance, according to his LinkedIn.
Other people news reported on AsianInvestor in the past week: