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February 10, 2020

Bank of Singapore hires Greater China wealth planning head from HSBC

Bank of Singapore, the private banking arm of OCBC Bank, has poached Joanna Ho from HSBC Private Banking to serve as the head of wealth planning for its Greater China and North Asia operations.

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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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Ho was the head of wealth planning, Asia Pacific, Private Wealth Solutions, at HSBC.

She primarily worked with Greater China clients at HSBC, providing wealth structuring strategies such as trust and insurance solutions.

In the newly-created position, Ho will report to the head of Product Management Group Hong Kong Angel Wu and global head of Lending Products, Credit Structuring and Wealth Planning Tariq Saleim.

Ho’s remit at Bank of Singapore includes driving the expansion of wealth planning, family office, trust, succession and insurance services in addition to offering holistic solutions and advisory to Greater China and North Asia clients.

The 20-year financial services veteran will now operate out of Hong Kong.

Bank of Singapore global market head for Greater China and North Asia Derrick Tan said: “We are pleased to welcome Joanna to the Bank of Singapore family.

“Her wealth of experience and in-depth understanding of the needs of wealthy families in Greater China is a great addition to our team as we continue to provide holistic wealth management services and solutions to our growing pool of clients in the region.”

Last year, Bank of Singapore appointed Kelvin Teo as the head of bespoke investments for Greater China and North Asia.

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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