Published by AsianPrivateBanker – 10th April 2015
Senior staff continue to leave Coutts as an ex-director heads to Barclay’s private banking arm in Hong Kong.
Willie Cheng joins Barclays as a relationship manager and director based in Hong Kong. Prior to this role, Cheng spent eight years with Coutts, most recently as a director.
When contacted, a spokesperson for the bank declined to comment.
Cheng will be welcomed by a familiar name. Andrew Sum was reported t have left Coutts to join Barclays, as reported by this publication. Coutts, which Swiss pure-play UBP recently agreed to purchase, has also recently witnessed exits of Andres Lo and Ray Chan.
As of 2014-end, Barclays had US$36billion in AUMs, according to the Asian Private Banker, AUM League Table, representing a 6% year-on-year growth
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