Richard Hu, Bank of Singapore
He will lead a team of relationship managers and report directly to Derrick Tan, chief executive of the bank’s Hong Kong branch and global market head for Greater China and North Asia, according to a press statement.
Hu’s hire is the latest in a string of senior appointments by the Singapore-based private bank to reinforce its Greater China efforts. Last year, it enticed Phonda Chan, Anne Song and Jacqueline Lee away from rivals LGT, UBS and BNPP.
Hu joins from Avenue Asset Management, where he was a founding partner and managing director, and was credited with starting up fixed income, property and venture capital funds. Previously, he held senior positions at Julius Baer, HSBC Private Bank, Credit Suisse, UBS Wealth Management and Citi Private Bank.
“His contributions will certainly be invaluable as we seek to further entrench our position in Greater China,” said Tan in the statement.
Earlier this month, Bank of Singapore lost wealth executive Lee Woon Shiu, who after 15 years of service jumped to rival DBS.
Bank of Singapore is the private banking subsidiary of OCBC Bank. Its main markets are high net worth individuals and wealthy families in Southeast Asia, Greater China and the Indian sub-continent, according to the statement.