Private Banks

EFG hires a flagship IAM team to strengthen IAM Service

EFG has announced the strategic hiring of a prime Independent Assets Managers (IAM) team to lead its growth in this segment in Hong Kong, as part of its commitment to growing its business in Asia Pacific as part of its 2022 strategic plan.

The announcement of the new IAM team, who will maintain a particular focus on Greater China alongside its Hong Kong operations, underscores EFG’s plans to further strengthen its global coverage of the IAM segment and to continue its expansion in the Asia Pacific region, according to a press release by the Bank.

Kitty Chou has been announced to be joining EFG as the Head of Independent Asset Managers, North Asia, based in Hong Kong. She will report to Richard Straus, Head of Private Banking, Hong Kong. Chou brings with her almost two decades of wealth management experience at UBS and has worked in both Zurich and Hong Kong. She recently served as Hong Kong Hub Head, Global Financial Intermediary Markets (GFIM) at UBS.

Kenneth Chan is also joining EFG as the Deputy Head of Independent Asset Managers, North Asia. He will be reporting to Chou. He is also an industry expert with three decades of wealth management experience, according to the press release. Before joining EFG, he served as Head of Business Development for Global Financial Intermediary Markets (GFIM) at UBS. Prior to that, Chan worked at Standard Chartered and was Head of Independent Asset Managers at Pictet.

Chou and Chan are joined by a group of seasoned colleagues with deep IAM experience – Karen Ho, Amanda Fong and Alice Chan – who will report to Chan. This new team will collaborate closely with Kelvin Tan, a senior banker and team leader in Hong Kong. As team leaders, both Chan and Tan will report directly to Chou. Before joining EFG, Chou and her team established one of the first – and the largest – IAM businesses in Hong Kong for UBS. EFG’s newly established team in Hong Kong will work closely with its award-winning team in Singapore, which is led by Gino Ragazzini.

In addition, EFG has reorganised its IAM structure in Asia to drive greater efficiency and scalability. Under this new structure, Chung Lay Ang, based in Singapore, will support the regional IAM initiative as a Business Manger to streamline the product offering and will report to Oliver Balmelli, Deputy CEO and Head of Private Banking at EFG Singapore branch as well as Regional Head of IAM. 

Angela Bow, Deputy Head of Asia Pacific Region, EFG, said “EFG’s commitment to independence and entrepreneurial thinking, combined with our open architecture platform and focus on best execution, creates a compelling value proposition for our IAM clients. As an autonomous pure-play private bank, we are not obligated to offer proprietary products to our clients. Instead, we strive to deliver the best and most innovative solutions, leveraging the expertise of our investment solutions department and our partnerships with a number of approved counterparties.”

“Our strong financial results for 2019 confirm that we have successfully shifted our focus from integration to growth and we are attracting seasoned professionals who want to grow with us,” she added.