Bank of Singapore has grown its Greater China team with new senior hires as part of its strategy to capture ultra-high-net-worth wealth in the region.
Based in Hong Kong, Phonda Chan and Anne Song have been appointed market heads for Hong Kong and offshore Taiwan, respectively.
Chan joins from LGT Bank, where she was managing director, leading a team of relationship managers serving ultra-high and high-net-worth clients in the Greater China region. She has 26 years of industry experience.
Song, on the other hand, has held management roles in Julius Baer and Standard Chartered Bank in the past, and has over 20 years of experience.
Prior to joining Bank of Singapore, she was managing director and country team head for Taiwan, at UBS Wealth Management.
Jacqueline Lee has joined Bank of Singapore in Hong Kong as executive director and head of risk. Her previous experiences spans across BNP Paribas Wealth Management, UBS and Coutts.
All three executives will report to Derrick Tan (pictured), chief executive of the Hong Kong branch and global market head for Greater China and North Asia.
These hires bring the total number of women leaders at the private bank’s Hong Kong branch to 11.
Last year, the bank hired Teresa Lee as market head and Angel Wu as head of product management.
Commenting on the new hires, Tan said : 'Studies have shown that companies with more women leaders perform better overall. However, when we assess a candidate, what matters most is that they are capable and are a good fit for our team.
‘We also recognise that it is important to hire locals who have a keen understanding of our key markets in the Greater China region,’ he added.
Bank of Singapore’s total assets under management (AUM) crossed $100 billion this year, with AUM for the Greater China region growing more than 20% in the last 12 months.