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December 12, 2018

Credit Suisse names vice chairman for Southeast Asia

Credit Suisse Private Banking has appointed Eric Kang as the new vice chairman for its Southeast Asia business.

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  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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Kang, who joins from UBS Wealth Management, will take on the new responsibility on 19 January 2019.

Based in Singapore, he will be tasked with developing the bank’s relationships with key clients and stakeholders in Southeast Asia.

At the same time, he will be responsible for the development of new talent at Credit Suisse.

In the new role, he will report to head of private banking for South Asia and Singapore CEO Benjamin Cavalli.

At UBS, Kang was most recently part of the global family office unit. Before that, he worked at Morgan Stanley Private Wealth Management with responsibility for Southeast Asia clients.

Kang also served in senior fixed income sales and trading roles at several international banks.

This includes a seven-year stint at Credit Suisse First Boston, where he oversaw a fixed income and forex sales and trading team.

In August 2018, the bank hired Makoto Kuwahara as its new Japan CEO. The same month, it also appointed Francois Monnet and Benjamin Cavalli as its private banking heads in North Asia and South Asia, respectively.

Earlier this year, the bank named Michael Marr as the new head of its private banking business in Australia.

 

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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