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 businesses.
Significant leadership changes in Asia and Europe dominated staff moves this month, suggesting a renewed push in key positions as banks up aggressive growth strategies.
A key appointment is Tan Su Shan’s naming as managing director and head of private banking at Singapore-based DBS.
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.
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 priorities.
Prior to Morgan Stanley, Tan was at Citi Private Bank as its region head for Singapore, Malaysia and Brunei.
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 Morra.
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 worldwide.
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.