Pictet shakes up Asia leadership in growth bid

Swiss wealth manager, Pictet, is shaking up its leadership in Asia with a broad reshuffle as part of its growth ambitions on the continent. Claude Haberer, equity partner of the Pictet Group and chief executive of Pictet Wealth Management (PWM) Asia, has been appointed as the chairman of PWM Asia effective from October 2019. He will support Boris Collardi, Pictet Group’s managing partner responsible for PWM Asia. Haberer will be succeeded by Tee Fong-Seng as chief executive of PWM Asia. He will be based in Singapore. Prior to joining the Swiss firm, Tee most recently served as the chairman of EFG Bank’s Asia advisory board. Before that, he was the vice chairman in Asia and chief executive of the Hong Kong branch for Credit Suisse. Meanwhile, Sharon Chou has been appointed as the deputy chief executive of PWM Asia and will report to Tee. She is currently the chief executive of PWM north Asia and Pictet’s Hong Kong branch. From November 2019, Tee’s ranks will be boosted with the addition of Alex Ng, who will succeed Chou as the chief executive of PWM north Asia and Pictet’s Hong Kong branch. He will be based in Hong Kong and be joined by “a team of 18 wealth management professionals with thorough knowledge of the Greater China markets, who will be based in Hong Kong,” Pictet said in a statement. Commenting on the re-shuffle, Collardi said: "Reinforcing PWM’s leadership in Asia with the appointments of Tee Fong-Seng and Alex Ng along with this major recruitment initiative for Greater China reflect PWM’s continued commitment and ambitions in Asia and set the stage for the next phase of growth in the region." ©2019 funds global asia

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