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EFG appoints new CEO for South-east Asia

EFG Bank has appointed Kong Eng Huat as its new chief executive officer of Singapore and South-east Asia, replacing Kees Stoute who has decided to step down in order to return to Europe.

With extensive wealth management experience, Kong was formerly the head of wealth management for South and South-east Asia at Merrill Lynch International Bank, where he worked for over 20 years.

"We have ambitious plans to continue to grow our business in Asia,” said Albert Chiu, chief executive officer for EFG Bank in Asia. “Kong Eng Huat brings extensive experience of Asian wealth management and has good connections throughout the region. He is a proven business leader, well equipped to take our Singapore and South-east Asia business to the next stage of its development."