Teo is a 16-year investment banking veteran and joins from Credit Suisse where he was director of equity capital markets in Hong Kong, covering the Greater China region, according to a media release.
His move follows other recent defections from CS to join rival wealth managers aiming to expand their North Asia business.
At BOS, Teo will focus on providing the private bank’s ultra-high net worth clients with opportunities to make direct investments in regional start-ups, buyout funds and real estate-related financial instruments.
“We have seen an increase in demand for sophisticated product offerings and financial solutions among ultra-high net worth clients. To serve this demand, we are dedicated to growing a strong team to provide tailor made wealth management solutions to match our clients’ sophisticated level of investment needs,” said Derrick Tan, chief executive of Bank of Singapore’s Hong Kong branch and global market head for Greater China and North Asia, in the statement.
Based in Hong Kong, Teo reports locally to Tan, and functionally to Singapore-based Carolyn Tham, global head of UHNW bespoke investments.
His appointment follows other recent hires, including Richard Hu, who was lured from Avenue Asset Management, in March to become BOS’s market head for Great China. Last year, the bank enticed Phonda Chan, Anne Song and Jacqueline Lee away from rivals LGT, UBS and BNPP respectively.
Bank of Singapore is the private banking subsidiary of OCBC Bank. As of 30 June 2019, its assets under management were $111bn, 9% higher than a year ago, according to the media release.
