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Top 10 private banker moves in 2017

The people moves stories that had our readers hooked to their screens this year

The revolving doors were at work again this year, with many high-profile hires and departures.

Most recently, Boris Collardi, Julius Baer's CEO, who transformed the Asia business, decided to leave for Pictet Wealth Management in a surprise move.

Here in Asia, there were headline-grabbing promotions, hires and departures as private bankers and their teams continued their search for greener pastures.

In this gallery, we showcase the most popular people moves that caught our readers' attention.

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The revolving doors were at work again this year, with many high-profile hires and departures.

Most recently, Boris Collardi, Julius Baer's CEO, who transformed the Asia business, decided to leave for Pictet Wealth Management in a surprise move.

Here in Asia, there were headline-grabbing promotions, hires and departures as private bankers and their teams continued their search for greener pastures.

In this gallery, we showcase the most popular people moves that caught our readers' attention.

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10. New desk at UBS

Earlier this year, UBS Wealth Management established a new service to provide financial services to cater to foreigners residing in Singapore.

The Resident Foreigner Team had four international bankers when it was created in March, and the Swiss private bank has since doubled the number.

The target client base is C-suite executives and entrepreneurs who have lived in Singapore for a long period of time, with plans to stay for the foreseeable future.

Click here for the full story.

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9. 13 hires

Deutsche Bank Wealth Management announced 13 hires in May, which included a new team of four in Hong Kong dedicated to covering Greater China clients.

The team, led by Gloria Sun and reporting to Kanas Chan, head of wealth management coverage, North Asia, are responsible for acquiring new clients and raising assets in Greater China.

All four executives joined from Bank of East Asia.

Click here for the full story.

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8. Hires from HSBC

Standard Chartered announced three hires for its private banking and wealth management operations across Greater China and North Asia in January.

Teddy Kwong was appointed managing director. He was market head of Hong Kong with HSBC Global Private Banking prior to that.

The other two hires report to Kwong.

Click here for the full story.

 

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7. Expanding North Asia

Standard Chartered has been growing its North Asia private banking team since last year.

In January, it announced the hire of Harry Lai from Barclays as market head for Greater China and North Asia.

In addition, the regional front office team added 12 new senior relationship managers since October 2016.

Last year, there were media reports of a few Barclays bankers joining Standard Chartered in Hong Kong in the aftermath of the Bank of Singapore acquisition.

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6. Growing the CIO office

Julius Baer hired two executives from Deutsche Bank Wealth Management earlier this year.

In March, Citywire Asia reported that Ancus Mak joined as director in the CIO office in Asia, focusing on mandate solutions for high net worth, ultra high net worth and institutional clients. 

He reports to Bhaskar Laxminarayan, chief investment officer for Asia.

Click here for the second hire.

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5. Strength in numbers

In March, Standard Chartered's managing director for private banking in Hong Kong, Teresa Lee, decided to exit the bank along with ten bankers from her team.

She had joined the firm in June 2010 from ABN Amro.

She resurfaced at Bank of Singapore two days later. According to sources, at least 12 private bankers had joined the Hong Kong office from Standard Chartered that week.

She reports to Sermon Kwan, Bank of Singapore’s Hong Kong branch chief executive and global market head of Greater China.

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4. Ex Asia CEO departs

Thomas R Meier, head of corporate sustainability, left Julius Baer in October.

The former Asia CEO, who was instrumental in building the region's business over 10 years, will continue to serve as chairman of the Julius Baer Foundation and support the corporate sustainability programme on a mandate basis.

He joined Julius Baer in 2005 as CEO Asia, Middle East and Eastern Europe and managed the integration of Merrill Lynch’s international wealth management business into the bank’s local operations.

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3. New Singapore CEO

Veteran private banker Jason Moo was named chief executive officer of Goldman Sachs Singapore in August, Citywire Asia revealed at that time.

Moo's role as regional manager for South East Asia and Australia at Goldman Sachs Private Wealth Management, which he has held since 2014, remains unchanged.

He has been with the American banking giant since 1998, when he joined as a financial analyst. He was named managing director nine years later.

He took over the responsibilities from Frederick Towfigh, who is continuing with the firm as retired partner, advisory director after four years as Singapore CEO.

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2. Changes at the top

BNP Paribas made a number of changes to its senior management in the Asia wealth management division since the start of the year, Citywire Asia reported.

Ernest Leung, who was Singapore CEO and Asia Pacific COO for two years, moved to Hong Kong in January.

The Citywire Asia cover star is now head of core clients for Asia Pacific. He has been with the French firm since 2006.

Ricardo Sanchez-Moreno was appointed head of wealth management, South East Asia.

Click here for the full story.

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1. New Asia CEO

J.P. Morgan Private Bank named a new Asia CEO in March, following Andrew Cohen's promotion to an international role, Citywire Asia reported.

Kam Shing Kwang, a Citywire Asia cover star, was handed the role.

She reports to Andrew Cohen and works closely with head of investments for Asia, Chris Blum.

Prior to this, she was the managing director and market manager for Hong Kong, China and Sponsors, the Philippines and Thailand.

Click here for more.

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