Web stories-r1:AMM grid in qxp 12/24/09 9:30 AM Page 19
ASSETANDWEALTHMANAGEMENT
Deutschehireshandfulinprivatewealthmanagement
DeutscheBankPrivateWealthManagementhashiredKwongKinMunfromDBSPrivateBankasitssouth-east
AsiaheadtoreplaceJimmyLee,whojoinedClaridenLeu.Ithasalsostrengthenedthebusinesswithsixhires.
DeutscheBankPrivateWealthManagementhas directorandteamhead.Itisunderstoodthatnone Overallon
hiredKwongKinMunfromDBSPrivateBankto ofthesehireshavebeenassignedspecificcountry therecent
runitssouth-eastAsiabusiness,asiamoney.com rolesyet. hires,he
exclusivelyrevealed. Kwongwillberesponsibleforthestrategic added:“Tobe
Kwong,picturedright,wassettostarton directionofDeutschePrivateWealth abletohire
December21andreplacesJimmyLee,whoquit Management’ssouth-eastAsiabusiness,wherehe individualsof
DeutscheearlierthisyeartojoinSwissboutique willbeleadingateamofmorethan100staffcov- thiscalibre
ClaridenLeu. eringclientsinSingapore,Thailand,Indonesia fromthepri-
FromDBShebringswithhimMabelChua, andMalaysia. vatebanking
whojoinsasmanagingdirectorandgroupheadof HewillreportdirectlytoRaviRaju,headof industry
south-eastAsia,andMaryLee,whocomesinas DeutschePrivateWealthManagement’sAsia- sendsa
director. Pacificbusiness. strongmes-
Andinasubsequentstatementfollowingasia- Kwonghas28yearsofindustryexperience, sagetoour
money.comenquiries,thebankrevealedithad havingbeenheadofSouthAsiaprivatebankingat clients,prospectiveclientsandemployeesabout
alsorecentlystrengtheneditsSouth-eastAsia DBSinSingapore.Hehasalsoheldseniorposi- thestrengthofourplatformintheregionandour
businessinSingaporewithfourhires. tionsatCitigroupPrivateBank,Standard broaderstrategy.
Twohavestarted:KhushrooDastur,formerly CharteredBankandUBSWealthManagement,as “Webelievethattheadditionofthesenewsen-
ofCitigroupPrivateBank,joinedinmid- wellasworkingasafinancialconsultantatMerrill ioremployeeswillcomplementourexistingteam
Novemberasmanagingdirectorandteamhead, Lynch. wellandbeofgreatbenefitstoourclientsandthe
andYeoYekKian,formerlyofUBS,joinedlatein NotingKwong’sexperience,Rajusaid:“Hewill overallfranchise.”
Septemberasdirectorandrelationshipmanager. providestewardshiptofurtherour‘onebank’ DeutschePrivateWealthManagementhas
ThebankconfirmedthatYoonPhooiLeng visionforthesouth-eastAsiafranchiseandcon- closeto700staffacross14officesinninemarkets
wouldalsojoinfromUBSasmanagingdirector tinuetoaddressthecomplexneedsoftheregion’s inAsia-Pacific.AsatSeptember31,ithad€23bil-
andseniorclientpartner,andthatDidi high-net-worthinvestorswithhisteamoftalented lionininvestedassetsregionally,a28%year-on-
KurniawanwouldjoinfromMerrillLynchas employees.” yearincrease.
Sarasinsealseight-strongIndonesiaswoopfromUBS
BankSarasin-RabohasappointedFebbyAviantoasmanagingdirectorandIndonesiamarketheadfromUBS.
Itcomesaftertheprivatebankpluckedaseven-strongteamfromUBS,whoallarrivedinthelastmonth.
BankSarasinhiredFebbyAviantofromUBSto ABankSarasin-RabospokespersoninHong relativetothesizeofourIndonesiateamofmore
headitsIndonesiateamoutofSingaporeina Kongsaidfurtherhireswereexpectedinthenear than100.Wecontinuetohirestrategically.”
drivetobulkupitssouth-eastAsiabusiness. term,addingthatprogresswasbeingmadein AviantoreportsdirectlytoEnidYip,thepri-
Avianto,anIndonesiancitizenwholivesinthe findingreplacementsforMarxandHsu. vatebank’sAsiaCEO.HehadworkedatUBS
Lioncity,startedonDecember1asmanaging “Thisisapureexpansionoftheexistingbusi- since2004,wherehehadbeenpromotedtodesk
directoratBankSarasin-Rabo(Asia),theSwiss ness,”thespokespersonaddedinreferencetothe headoftheIndonesiateamin2008.Previously
privatebank’ssubsidiaryinSingapore. Indonesiahires.“Wefelttherewasroomfor heworkedforCitigroupPrivateBankingin
Itcomesaftersevenfront-officestaff,includ- expansioninservingthatmarket[Indonesia].We Jakarta,wherehestartedin2001,Citibankand
ingseniorrelationshipmanagers,joinedSarasin intendtogrowinAsiaconsistently.” BankPDFCI,allinJakarta.
fromUBSinthepastmonthtobulkupitsexisting AseniorsourceaddedthatSarasinhadscored Inastatement,Yipsaid:“He[Avianto]has
six-strongIndonesiateamledbyMonaTng. acoupbyattractingateamfromUBSasitwas proventeamleadershipskillsandanabilityto
ItisunderstoodtheexistingIndonesiateam competingagainstlargerrivalsfortheiratten- drivegrowthinbothAUMandrevenues.We
willremain,withtheadditionalhiresforminga tion.“Sarasinareclearlytryingtobuild,”hesaid. lookforwardtoworkingcloselywithFebbyas
secondcoverageteamforthecountry.Overall, “IthasstruggledtodosoinSingaporeinthelast wedriveourbusinessforwardinsouth-east
Aviantowillleada14-strongunit. twoyears,butthereputationofthepeoplejoin- Asia.”
Sarasiniseagertobulkupitsbusinessafter ing[fromUBS]willserveasanattractiontooth- BytheendofJunethisyearSarasinmanaged
theresignationofformersouth-eastAsiahead ersandIthinkthiswillhelp[Sarasin]togrow.” totalclientassetsofSFr79.9billion(US$79.5bil-
RetoMarxthisOctober.ItalsolostEdwardHsu, However,aUBSspokesmanbasedinHong lion).ItsmajorityshareholderisDutch
whohadheadeditsTaiwanteaminSingapore. Kong,said:“Thenumberofresignationsissmall Rabobank,whichisratedAAA.
asiamoney.com 19
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