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November 1, 2021

Julius Baer new wealth planning and family office services head in Singapore

By Verdict Staff

Swiss wealth management group Julius Baer has appointed Kevin Tay as head of wealth planning and family office services in Singapore.

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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
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Tay will lead the group’s wealth planning team in Singapore with focus on offering wealth planning services to the clients.

In the newly created role, he will also manage the family office offering to offer ‘innovative and bespoke solutions’ for family office clients.

In the wealth planning segment, Tay will work under Julius Baer Wealth Planning & Investment Finance APAC head Eleanor Yuen.

He will report to the group’s private banking southeast Asia head Jason Moo for family office services.

Commenting on the appointment, Moo added: “Kevin’s appointment showcases the importance of family offices to the Bank and our focus on family offices as a separate and unique client segment.

“With his experience in structuring and advising family offices and his familiarity with the Bank and its products, I believe that Kevin is best placed to engage relevant stakeholders to develop an exclusive and targetted offering for family offices.”

Tay previously worked with Julius Baer for nearly 14 years and held key positions including head of Wealth Planning and Investment Finance for Southeast Asia.

He is joining the firm from Sequent Group, where he was senior partner, head of Asia and a member of the group executive committee.

Earlier in his career, Tay served a number of key roles at BNP Paribas Private Bank and HSBC Trustee in Singapore.

Yuen commented: “I am very pleased that Kevin has decided to return home to Julius Baer where he had set up and built the wealth planning department in Singapore. I am confident that under his leadership, the team will continue to create a differentiated wealth planning experience for our clients.”

Last month, Julius Baer hired Yvan Wicht as its group head for the Middle East & Africa, working out of Geneva.

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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