OCBC NAMES NEW GROUP CEO
OCBC has named Helen Wong as its new group CEO, effective 15 April this year, according to a statement from the bank.
She will replace Samuel Tsien, who is retiring in April.
Wong joined OCBC bank in February last year as deputy president and head of global wholesale banking, according to the statement. Before that, she was CEO for Greater China at HSBC – a role she held from 2015 to 2019.
The bank said that Wong’s appointment as group CEO was a result of a “rigorous global search”.
“We had looked at candidates internally in OCBC, and within and outside Singapore before we agreed on [Wong] as the best qualified person,” Ooi Sang Kuang, OCBC Bank’s chairman, said in the statement.
Tsien served as group CEO at OCBC for the past nine years. He first joined the bank in July 2007 as the global head of global corporate bank and assumed his group CEO role in 2012. Under his leadership, the bank expanded its presence, particularly in the Greater China region, with acquisitions, including Hong Kong’s Wing Hang Bank and by expanding its wealth management franchise.
In 2016, Bank of Singapore, OCBC’s private banking business, acquired the wealth and investment management business of Barclays in Singapore and Hong Kong. The following year, OCBC bought the retail and wealth business in Singapore and Hong Kong of National Australia Bank (NAB).
“In his nine years as the group CEO, [Tsien] has significantly built the OCBC franchise into a much more diversified and resilient business,” Ooi said.
PICTET NAMES NEW CEO FOR SINGAPORE
Bank Pictet & Cie (Asia) (BPCA), Pictet Group’s private banking entity in Singapore, has named Sharon Chou as its new CEO, effective 1 January, the firm announced last week.
She replaced Dominique Jooris, who after having spent four years in the role will explore other opportunities. Jooris will assist Chou through 30 June 2021 and support her during the transition period.
In her new role, Chou will oversee the activities of the bank and lead the business development of private wealth management (PWM) in South and Southeast Asia. She will report to Fong Seng Tee, Asia CEO for PWM.
Chou has been with Pictet since 2011, first as managing director for PWM North Asia and CEO of Hong Kong branch, and most recently as deputy CEO for PWM Asia. Before Pictet, she was at BNP Paribas in Hong Kong for 14 years in risk management, holding roles as head of counterparty risk for private banking division in the region and as regional head of credit and risk management.
Separately, Pictet has also hired Kian Seng Yap as chief financial officer for Asia and BPCA, and Rayson Tan as chief risk officer for Asia and BPCA, the statement said.
Yap joins from UBS, where he was APAC head of wealth and asset management financial controller, while Tan was at Revolut Technologies, where he was chief risk officer and head of legal.
Headquartered in Geneva, Pictet managed $589bn in assets globally. In Asia, it has offices in Hong Kong, Osaka, Shanghai, Singapore, Taipei and Tokyo, according to the statement.
PRINCIPAL MAKES SENIOR MANAGEMENT CHANGES
Principal Financial Group has added Thomas Cheong, Hong Kong-based president of Principal Asia, and Roberto Walker, Santiago, Chile-based president of Principal Latin America, to its executive management team, according to a statement from the firm. Both have started their new roles on 1 January.
The addition of Cheong and Walker to the executive team emphasises the growing significance of international markets and the global customers for Principal, the firm said.
Cheong joined Principal in 2015 as vice president for North Asia at Principal International and took over leadership responsibilities for the entire Asia region in 2019 as senior vice president and president of Principal Asia. Meanwhile, Walker joined Principal in 1996 and has led Latin America for Principal International since 2011.
The firm has also promoted Anson Tay as CEO for North Asia at Principal International and appointed Ted Pull as chief financial officer for Asia at Principal International.
Tay will lead the firm’s operations in North Asia and manage key partner relationships, working closely with the management teams of Hong Kong and China to achieve the firm’s short- and medium-term strategic goals. He joined in 2017 as chief operating officer for North Asia and previously held senior positions at Edmond de Rothschild Asia and Societe Generale Asset Management, according to the statement.
As CFO for Asia, Pull will oversee the finance governance and reporting across the region and work closely with the Asia leadership team on strategy development and execution. Before joining Principal, he was a member of the senior management team member of Eastspring Investments for nearly two decades, holding various positions including CFO.
CAPITAL GROUP MAKES KEY APPOINTMENTS IN JAPAN AND THE UK
Capital Group, which manages around $2.1trn in assets, has named Tetsuya Koizumi as president of its Japan business and head of Japan client group.
Koizumi was at DWS in Japan, where he was representative director and president. Before that, he spent 14 years at Fidelity, where he was executive vice president and head of its pension sales and pension business divisions, according to the statement.
The firm has also appointed John Griffiths as head of UK client group. Before Capital Group, he was head of UK and Ireland institutional business at Schroders.
Both Koizumi and Griffiths report to Guy Henriques, head of Europe and Asia client group.
“These appointments are critical elements to expanding our local services in markets around the globe,” Henriques said in the statement.
EQUITIES FIRST HIRES MD IN BEIJING
Global asset-backed financing firm Equities First has appointed Didier Zheng as managing director of the firm’s Beijing office, according to a statement.
In this role, Zheng will be part of a team driving origination strategies and exploring business opportunities in Greater China. He also joins the Asia leadership team and will report to Gordon Crosbie-Walsh, who joined the firm in October as its Asia CEO.
Before Equities First, Zheng was CEO at Dots Institutional Investors, an institutional investment organisation managing at least $30bn in assets. He also served as deputy general manager for investor relations and executive director for fixed income at Fosun International.
Zheng’s appointment follows the hires of two senior executives for the firm’s Korea and Thailand operations.
Headquartered in Indianopolis, Equities First has 12 offices in eight countries, including the US, the UK, Spain, China, Korea, Thailand, Singapore and Australia. Its total value of loans transacted stood at $2.5bn as of 1 December, according to the statement.
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