Swiss private bank has EFG International has strengthened its management team in Asia with senior hires.
This includes the appointment of Tho Gea Hong as the new CEO of the bank’s Singapore branch, replacing Kong Eng Huat who will retire at the end of this year. The appointment is subject to regulatory nod.
At the same time, Hong will join the bank’s Asia business committee that is chaired by the bank’s Asia Pacific executive chairman Albert Chiu.
Hong, with an experience of over three decades in the private banking industry, most recently served as the CEO of the Singapore branch at RBC.
Prior to that, she was head of private banking in Singapore at EFG. She previously also served at DBS Bank and Bank of America Merrill Lynch.
EFG also appointed Ivan Ferraroni to the newly created role of head of global markets in Asia. Ferraroni will assume the new responsibility in October this year.
Ferraroni joins from UBS Investment Bank, where he was the head of client office for Asia Pacific.
His 25-year long financial services career also includes stints at Barclays Capital and RBS Global Banking & Markets.
Based in Hong Kong, Ferraroni will manage EFG’s all global market activities in Asia. He will report to global markets head Maurizio Moranzoni and Hong Kong CEO Kees Stoute. He will work alongside Chiu and the private bank’s central markets division.
With Ferraroni’s appointment, the bank aims to enhance its capital markets capabilities to clients in Asia.
Moreover, the bank appointed Richard Straus as the new head of private banking in Hong Kong. Straus will also join the Asia business committee and will report to Stoute.
Straus most recently served as the team head of Greater China at Julius Baer and prior to that worked at Citi.
EFG Giorgio Pradelli CEO said: “Asia is a very important market for EFG with considerable growth potential. We have therefore taken a number of steps to further strengthen our management team in this key region.
“I am pleased to welcome Gea Hong and Ivan to EFG. I am convinced that with their extensive experience of the private banking industry as well as the Asian and capital markets, they will help EFG to further grow our private banking business in Asia and improve our Global Markets solutions for Asian clients.”