Julius Baer names new Asia chief; StanChart hires discretionary director; La Trobe boosts distribution sales team; Axa RE IM opens Seoul office; Eversheds hires partner for PE; and White & Case moves to Korea.
Entrepreneurial zeal and lack of investment experience have given rise to unrealistic return expectations, says Kaven Leung, the Swiss private bank’s head of North Asia.
Asia chief Thomas Meier scotches rumours he will hand over to Kaven Leung anytime soon and confirms Julius Baer is still keen on acquisitions, despite losing out on Sarasin. The private bank is set to announce the official opening of its Shanghai rep office today.
David Lim assumes the post, freeing up Thomas Meier to focus on a more strategic role, as the Swiss private bank prepares to move to new offices in the Lion City.
Swiss private bank Julius Baer receives a Hong Kong banking licence from the HKMA and reiterates its commitment to Asia and its growth ambitions for assets under management in the region.
The CEO for Asia, Middle East and Eastern Europe moves from the bank's Zurich headquarters to Singapore, reflecting the growing importance of emerging Asia in wealth generation.