Weekly roundup of people news, March 11
BSI Asia boss Brunner retires
Private banking veteran Hanspeter Brunner, Asia chief executive at Swiss bank BSI, will retire in the next few weeks after 45 years in the industry. Replacing him will be Raj Sriram, deputy CEO and head of private banking for Asia.
Brunner’s decision comes following the news in January that BSI is being sold by Brazil’s Banco BTG Pactual to Swiss private bank EFG International. BTG had only completed the purchase last September, but has been forced to sell assets after the arrest late last year of its founder and CEO Andre Esteves over alleged links to the corruption scandal at energy group Petrobras.
Brunner had joined BSI as Asia chief in 2009 from UK private bank Coutts where he had worked since 1997, most recently as CEO of the international business. Subsequently, some 70 staff left Coutts to join BSI, including Esther Heer, who joined in late 2010.
Heer was head of North Asia at BSI until her retirement in December 2014. Her departure paved the way for Sriram's promotion to the newly created role of Asia head of private banking, in addition to his role as deputy CEO.
At EFG, Tho Gea Hong, head of Southeast Asia private banking, resigned following the M&A announcement, although a source said her resignation was not related to the acquisition.
Deutsche names new Asia-Pacific wealth COO
Deutsche Bank Wealth Management has appointed Sudhir Nemali as chief operating officer for Asia Pacific, effective March 1.
Based in Singapore, Nemali’s key responsibilities are to implement the regional strategic, financial, operating plans and policies in the region. He also has oversight over operations- and technology-related service providers. He reports to global chief operating officer Anil Venuturupalli and Asia-Pacific head Ravi Raju.
Nemali takes over from Venky Narasiah, who has been named global head, wealth management operating model. Narasiah is now responsible for key initiatives in the firm’s operating platform such as legal entity consolidation and booking centre consolidation. Based in Singapore, Narasiah reports to Venuturupalli.
Nemali was previously group head for global South Asia (GSA) covering the Middle East, Asia and Australia. Prior to this, Nemali was interim head of GSA and before that head of investment advisory for the Southeast Asia and GSA businesses within private wealth management.
He joined Deutsche Bank in 2007 from Citi, where he held various senior roles.
HSBC PB shuffles investment counselling heads
HSBC Private Bank has promoted Peggy Kwok to Asia head of investment counselling, from Hong Kong head. She replaced Lionel Kwok on March 1, and he will take up another senior post that will be announced later.
Meanwhile, Jackie Mau joined HSBC Private Bank's investment counselling team on March 2 as managing director in Hong Kong, reporting to Peggy Kwok, who in turn reports to Ivan Wong, Asia head of investment services and product solutions.
Mau was previously head of local corporate sales for China and Taiwan at Standard Chartered, a role he left in January. He had moved to StanChart in 2013 after a decade with HSBC's Global Markets team. It is understood that he will not be replaced at StanChart.
Malaysian securities regulator replaces deputy CEO
Securities Commission Malaysia has promoted its executive director of enforcement, Ahmad Fairuz Zainol Abidin, to deputy chief executive. Incumbent Nik Ramlah Mahmood will step down on April 1 after four years in the post and 23 years at the regulator.
He is expected to report to Ranjit Ajit Singh, the Commission's chairman.
A British-trained barrister, Ahmad Fairuz spent 14 years as a deputy public prosecutor in Malaysia, before working as a legal adviser in the oil and gas industry from 2008 to 2012 with oil major Exxon's Malaysian subsidiaries. He is a also a deputy public prosecutor.
The commission did not respond to queries about who would replace Ahmad Fairuz.
BNP Paribas WM names HK team head
BNP Paribas Wealth Management has hired Louis Chan from Credit Suisse as Hong Kong team head. He started work in the last week of January and reports to Andy Chai, head of Hong Kong market. BNP Paribas declined to say whom Chan would replace.
Chan held the post of executive director and team head at Credit Suisse in Hong Kong, having joined in October 2012, according to his LinkedIn profile. That followed 16 years at Chong Hing Bank in Hong Kong, where was head of investment and corporate banking. Credit Suisse declined to comment.
Bank of Singapore replaces NRI head: reports
OCBC-owned private bank Bank of Singapore has hired Zabin Dabu as global head of marketing for the non-resident Indian business, nearly two years after the previous incumbent left, reports Asian Private Banker. He left UK private bank Coutts until early this year.
Dabu had joined Coutts in August from Deauville Family Office, where he was responsible for managing ultra-high-net-worth relationships. He was also previously market head for Malaysia, Thailand and the global Indian business at Standard Chartered Private Bank.
Bank of Singapore did not respond to requests for comment by press time.
Ibbotson Associates replaces Japan president
Chicago-based investment research firm Ibbotson Associates has named Chang Yu-tsung as president and representative director for Japan, replacing Katsunari Yamaguchi, who takes on the newly created post of chairman.
The firm, part of investment research house Morningstar, said the reshuffle would allow Yamaguchi to concentrate on providing research and thought leadership at Ibbotson's Japanese operation, which he founded in 2000. The changes will take effect on April 1.
Chang joined Morningstar in January 2015 as business development leader for Asia. He will retain those responsibilities as well as taking on the new role. He previously spent 20 years at rating agency Standard & Poor's.
Chang will continue to report to Dan Waryck, Ibbotson's head of sales in Chicago, but will now also report to Kevin Stineman, chief operating officer of global markets, also based in Chicago.
Credit Suisse PB adds in risk management
Credit Suisse Private Banking appointed Neeraj Haralalka in Singapore as Asia head of first line of defence support on February 23. He is understood to be a replacement hire but the firm declined to comment.
Rejoining the Swiss bank, he reports to Christian Huber, Asia-Pacific chief operating officer.
Haralalka will be responsible for advancing the risk culture and conduct within the organisation and provide strategic support to address the main operational risks for the business, said Credit Suisse in an internal memo.
He will oversee the execution of critical business risk controls, cross-border enhancements, client tax programmes and investment suitability.
Previously he was global head of business risk and control management for retail banking and wealth management at HSBC. Prior to this, he spent five years at Credit Suisse in business and operational risk roles spanning private banking and investment banking.
Other people news reported on AsianInvestor.net in the past week:
CDPQ builds out in Asia, EMs with alternativs focus
DBS names new HK consumer banking and wealth head