Swiss boutique EFG has snapped up two executives from UBS to strengthen its coverage of the independent asset managers segment and expand in the Asia Pacific region.
Based in Hong Kong, Kitty Chou (pictured) has joined as head of IAM for North Asia. Joining her is Kenneth Chan, who has been named deputy head of IAM for North Asia.
Chou brings close to two decades of wealth management experience at UBS. She was most recently its Hong Kong head for global financial intermediary markets, having spent most of her career in the territory.
In the new role, Chou will strengthen EFG’s coverage of the IAM segment in Hong Kong, with a particular focus on Greater China. She reports to Richard Straus, Hong Kong head of private banking.
Meanwhile, Chan who has three decades of industry experience, was UBS’ former head of business development for global financial intermediary markets. Prior to that, he worked at Standard Chartered and Pictet, where he was head of IAM.
Over at EFG, three IAM bankers will report to Chan, who reports to Chou.
The Hong Kong team will work closely with Kelvin Tan, senior banker and team leader in Hong Kong, and Singapore IAM team head Gino Ragazzini.
EFG has since reorganised its IAM structure in Asia to drive greater efficiency and scalability.
With this, Chung Lay Ang will support the regional initiative as a business manager reporting to Oliver Balmelli, deputy CEO and head of private banking at EFG’s Singapore branch. Balmelli is also the regional head of IAM.
EFG is similarly looking to deepen its coverage of Global South Asia. Its regional GSA business, which has 20 staff, is largely centered in Singapore.