Carol Chen, who joined Barclays Wealth in 2011, is working out her notice and the bank is reviewing its internal structure, say sources.
The Liechtenstein-based boutique private bank is building its team in Asia and has made a senior hire from Barclays Wealth in Singapore.
The firm is half way through a three-year plan to build its infrastructure and production capacity. CEO Tom Kalaris outlines the five key components that should be ready in Asia next year.
The firm hires Carol Chen from UBS and Michelle Ho from HSBC to cover Greater China from the Lion City. They’ll work in tandem with Januar Tjandra, based in Hong Kong.
Pakorn Boonyakurkul is focusing on ultra wealthy entrepreneurs in China and wants to add a raft of senior staff as the firm strives to double AUM to $50 billion in three years.
New research underlines the key challenges and opportunities facing private banks as first-generation business owners contemplate how best to pass on their wealth.