A DBS private banker recently moved to a multi-family office, Citywire Asia has learned.
Marvin Koh (pictured) has been appointed managing director for relationship management at Raffles Family Office.
He brings over a decade of experience to the Singapore role, that will see him serving ultra-high-net-worth individuals and wealthy families in the city-state and Southeast Asia.
Koh joins from DBS, where he was a senior director for private banking. Prior to that, he held senior roles at CIC Banque Privée and ABN AMRO Private Banking.
Jaydee Lin, Raffles’ chief operating officer and managing partner, said he was delighted to have Koh on board.
‘Senior hires are an integral part of Raffles’ robust growth strategy and underscores the firm’s commitment to accelerate its expansion in Asia,’ Lin told Citywire Asia.
The multi-family office, which currently has 60 employees in Asia, was founded in Hong Kong in 2016.
It opened a Singapore office two years later, and expanded to Taiwan last September. A month later, it announced a joint venture with a wealth tech platform that is aimed at courting China’s ultra-wealthy.
The venture – Raffles China Family Office – is headquartered in Shanghai and plans to expand into Beijing, Chongqing and Zhejiang, depending on business growth.
More partnerships, including that with a bank in Myanmar and a listed company in Thailand, are on the cards for 2020, said CEO and founder Chi Man Kwan.
With this comes plans to grow its headcount to between 100 and 120, and its assets under management from over $2 billion to $10 billion by the end of 2021.