DBS Hong Kong appoints Head of Private Banking for Greater China
DBS Hong Kong has announced the appointment of Peter Tung as its Head of Private Banking for Greater China.
Tung assumes this role from Januar Tjandra, who has retired, according to a press release by the firm. As Head of Private Banking for Greater China, Tung is responsible for managing and developing DBS' private banking business in Hong Kong, Macau, Mainland China and Taiwan.
Tung has over 26 years of industry experience, including more than 17 years with Morgan Stanley Asia Private Wealth Management. He was also Head of the Ultra High Net Worth Greater China business at UBS Wealth Management for over four years. Prior to DBS, Tung was a Partner at Venturous Capital, a family office specialising in smart city technology investments.
Sebastian Paredes, CEO, Hong Kong, DBS, said: “As we take our position as a leading wealth manager in Hong Kong and Greater China to the next level, it is important to build leadership bench strength in the bank. Peter is an industry veteran, and brings with him a deep understanding of the needs of high net worth individuals and families, which is invaluable as we seek to further grow our wealth management business and enhance our strategic capabilities.”
Joseph Poon, Group Head, DBS Private Bank, said: “The Greater China market remains a key focus as we continue to strengthen our position as a leading wealth manager in Asia. With Peter’s deep expertise spanning private wealth management, corporate finance and investment advisory, we believe he will be a valuable addition to the team, and are excited to have him on board this journey.”