Asia-Pacific continues to be a
key focus for private banks with assets under management growing at
a rapid pace. This month, Singapore-based DBS and Standard
Chartered have both made major Asian appointments, with UBS and
Merrill Lynch also naming new chief executives to lead their Swiss
Significant leadership changes in
Asia and Europe dominated staff moves this month, suggesting a
renewed push in key positions as banks up aggressive growth
A key appointment is Tan Su Shan’s
naming as managing director and head of private banking at
Tan joins DBS on 1 July from Morgan
Stanley Singapore, where she was most recently managing director
and head of private wealth management for Southeast Asia.
Tan succeeds Amy Yip, who remains
as chief executive of DBS Hong Kong.
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The bank said Tan’s appointment
underscores DBS’ commitment to growing its private banking
business. DBS said strengthening DBS’ wealth management proposition
for Asia’s growing affluent was among the bank’s key strategic
Prior to Morgan Stanley, Tan was at
Citi Private Bank as its region head for Singapore, Malaysia and
Career Credit Suisse staffer Lukas
Gähwiler has taken over as chief executive of UBS Switzerland and
the co-chief executive of wealth management & Swiss Bank from
the start of this month.
Gähwiler will also become a member
of the Swiss bank’s group executive board and succeeds Franco
Until February 2010, Gähwiler
worked at Credit Suisse, where he began his career in 1990. Most
recently, he served as the chief credit officer of Credit Suisse
private banking, responsible for the division’s credit business
Patrick Ramsey is to take over as
general manager and chief executive of Merrill Lynch (ML) Bank
(Suisse). Ramsey replaces Serge Robin, who left earlier this year
to join the Geneva bank Gonet & Cie.
ML said one of Ramsey’s key roles
will be to deepen the relationship between its Swiss bank and
financial advisers globally.
He will also be responsible for the
wealth management platform established at ML’s Swiss unit.
Ramsey has been at ML’s Swiss bank since 2002 and was previously
head of private banking in Europe.