JP Morgan Private Bank recruits from Credit Suisse
JP Morgan Private Bank today announced the appointment of Elaine Zhang as China market leader for Singapore. Zhang will be based in Singapore and will report to James Wey, head of Singapore and Southeast Asia, JP Morgan Private Bank. She is expected to start the new role in August.
Zhang joins as managing director and will be responsible for leading, growing and developing the firm’s China market in Singapore. She will work with client teams to identify, build, nurture and deepen client relationships, as well be responsible for attracting, coaching and training the firm’s China market specialists in Singapore.
Zhang has around 20 years in the private banking industry, including servicing ultra-high net worth Chinese clients and leading teams of China market relationship managers.
Most recently she was market leader for Greater China in Singapore at Credit Suisse, where she worked for a decade. Originally from Shanghai, Zhang has been based in Singapore for 20 years. Prior to joining Credit Suisse, she served in banking roles at American Express Private Banking (acquired by Standard Chartered), DBS Bank and Bank of China.
Credit Suisse wealth unit poaches in Asia
The Swiss firm is hiring several private bankers in both Singapore and Hong Kong, after appointing long-term Credit Suisse banker Keng Cheong Lock as market group head of private banking for China, Hong Kong, and Taiwan, based in Singapore.
To work in the Singapore office, Credit Suisse poached Terence Seah from UOB’s private bank as a Greater China team leader, Harry Chen as a Greater China relationship manager from Julius Baer, and former UBS banker Maggie Ma as an expert relationship manager.
In Hong Kong, Credit Suisse is moving Thomas Ang, its head of family office services in the wider Asia-Pacific region, to Hong Kong from Singapore next month. His objective is to develop a wealth planning services platform, and he will be supported by Jennie Lau, who was most recently senior legal counsel at Chow Tai Fook Enterprises.
Deutsche Bank loses distressed debt specialist
Tod Macri, formerly Deutsche Bank’s managing director of the strategic investment and distressed products group, has joined Alvarez & Marsal in Hong Kong as a senior advisor.
The appointment is part of the distressed advisory firm’s strategy to boost its restructuring and turnaround practice in Asia.
The firm has made four other senior appointments within the past year, including two in Singapore, one in Hong Kong and one in Shanghai.