Poon’s appointment is effective 16 August.
Before joining DBS, Poon was the head of UBS Wealth Management for ultra high net worth and global family office businesses for Southeast Asia. Prior to that, he held various senior positions at several private banks, including Julius Baer, Macquarie Private Bank Asia and JPMorgan Singapore.
Poon will report to Lawrence Lua, who has been promoted to deputy head of DBS Private Bank. Lua was previously head of South and Southeast Asia.
Lua joined DBS in 2011 and has been instrumental in driving the bank’s private banking business in South and Southeast Asia.
“We believe that it is important to identify and build deep bench strength in our bank. With these senior appointments, we are ready to take our private banking business to the next level with a strong focus on the ultra high net worth segment and the digital evolution,” said Tan Su Shan, group head of consumer banking and wealth management of the bank.
As of the end of March, DBS’ high net worth assets under management and assets under management for all wealth customers stood at SG$101bn ($74bn) and SG$147bn, respectively.
