Vontobel Asset Management has bolstered its Asia presence by setting up an office in Singapore.

The firm’s other offices in Asia are located in Hong Kong, where it has been operating since 2008, and Sydney.

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Besides, the asset manager appointed Benny Gay as the head of intermediary clients for Asia based in Singapore, succeeding Suzanna Wong who will quit the business.

Gay has been tasked with managing relationships with global banks and intermediary channels in Hong Kong and Singapore, and will report to Hong Kong-based CEO Ulrich Behm.

Gay previously worked as the head of private banks and intermediaries at DWS.

His 12-year financial services career also includes a stint at Citibank in Singapore.

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Additionally, Vontobel Asset Management named Jeremy Tan as the relationship manager for intermediary clients in the region. Tan too formerly worked at DWS.

Vontobel Asia Pacific CEO Ulrich Behm said that the firm has continued to gain additional distribution partners in the region.

Vontobel Asia Pacific CEO Ulrich Behm said: “The opening of our office in Singapore will enable us to further strengthen our activities related to global and regional banks and institutional investors in Asia-Pacific.”

Vontobel moves

In July this year, the Swiss asset manager opened a new location in Milan to offer advisory services.

Vontobel also made several leadership changes recently.

Earlier this month, Vontobel hired Stefano Sala from Credit Suisse to serve as the head of its Ticino-based wealth management business.

This June, Vontobel poached Thomas Heinzl from UBS to serve as its new CFO.

In April, Vontobel Wealth Management named Dan Scott as its new CIO.

In March, Bank Vontobel Europe, a Vontobel unit that serves clients in Germany, appointed Andreas Heinrichs as its new COO.