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April 29, 2021

Schroders appoints new Singapore chief, APAC distribution head

By Verdict Staff

Schroders has named Lily Choh as the new CEO of its Singapore business to accelerate its business growth in Singapore, Malaysia, and Thailand.

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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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Choh will be in charge of executing the company’s growth strategy in the Southeast Asian region. She will also oversee the management of the Singapore office and over 450 employees.

Last April, Schroder appointed Choh as deputy CEO of the Singapore unit. She was also named director on the board of Schroders Singapore (SIMSL) in addition to her role as head of Institutional, Asia-Pacific (APAC).

The company said that Choh will transition out of her dual role as head of Institutional, APAC, by the end of the year to focus on her new responsibilities.

Lily succeeds Susan Soh, who has led Singapore unit for the past 14 years as its CEO.

Soh will now focus exclusively on her role as co-CEO of Asia Pacific alongside Chris Durack. Additionally, she will continue to be a director of SIMSL.

Commenting on the development, Soh said: “With a rapidly increasing middle class, the Southeast Asia region provides opportunities for us to engage with the growing wealth with our innovative wealth management solutions to cater to the preferences of the local investors.

“I am confident that Lily, who has been working closely with me over the last few years, is well placed to take our business to the next stage of growth. We look forward to this new chapter for Schroders Singapore under Lily’s leadership.”

Head of Distribution, APAC

Schroders has also appointed Schroders Hong Kong CEO Amy Cho to the newly created role of head of distribution, APAC.

Cho will lead distribution across both Intermediary and Institutional channels. She will work together with Soh and Durack to implement a cohesive distribution strategy across the APAC region.

In addition to her new responsibilities, Cho will also continue to oversee the Hong Kong unit.

Durack said: “Schroders remains committed to its ambitious growth plans across the APAC region, and Amy’s appointment is key to driving our strategic distribution priorities in the region and creating greater synergies across our business channels.”

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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