Following on from recent hiring in both Singapore and Hong Kong, Indosuez Wealth Management has made a further senior appointment to its Asian business unit.
Credit Suisse is losing a prominent private banker in Asia, prompting the Swiss bank to streamline a product unit. The move comes as the bank deepens spending cuts in the region.
UBS Group AG plans to hire about 100 wealth management client advisors over the next two years in Hong Kong, the biggest wealth hub in Asia-Pacific, to grab a bigger share of the fast-growing mid-tier millionaire segment.
The US fund giant’s Asia-Pacific chief operating officer has left after seven years in the role and 17 with the firm. He spoke to AsianInvestor about his next move.
Credit Suisse needs hundreds of fresh private bankers for its Asia-Pacific (APAC) operations, but hiring has been momentarily stopped at the Swiss bank. Based on Credit Suisse’s chief executive officer Tidjane Thiam’s statement in 2015, the bank needs to recruit 180 more bankers to meet its target of having 800 relationship managers (RM) in the APAC region by the end of 2018.
Private lender OCBC NISP Bank, the local Indonesian unit of Singapore’s second largest lender, plans to launch a private banking service in May.
The news comes after the bank received approval and a license to do so from the Indonesia Financial Services Authority (OJK).
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