Several new senior managers, plucked from other banks over the past six months, were revealed in a statement from the bank. The new appointments are aimed at driving the ultra high net worth client business, the bank said.
Harry Lai, formerly at Barclays, has been appointed market head of GCNA. Two other market heads for GNCA were hired earlier: In August 2016, Michael Yong-Haron, ex-RBC, and Alex Tse from Credit Suisse.
The market heads report to Vivian Chan, who was appointed as regional head of private banking for GCNA last July. Her role started on 6 January this year.
Last July, StanChart also added to its wealth management advisory capability by bringing in Barry Chan from Julius Baer to serve as regional head of investment advisory for GCNA. In December, Teddy Chu was lured away from Credit Suisse to serve as regional head of trust and fiduciary services for GCNA.
In addition, the bank said in the statement that the regional front office team added 12 senior relationship managers over the last three months.
“We continue to invest in our private banking and wealth management business,” said Didier von Daeniken, global head of private banking and wealth management, in the statement.
“The Greater China & North Asia region is central to our strategy and we are building a strong team, with half of our targeted global hires in these markets.”
Standard Chartered’s hiring comes during a private bank consolidation in Asia as other banks sell off their regional assets.
