Maisy Ang: Private Wealth Manager Of The Ultra High Net Worth

Maisy Ang: Private Wealth Manager Of The Ultra High Net Worth

Maisy Ang, CFA , Managing Director

Maisy Ang, CFA

Managing Director

Embarking on a journey of success takes great courage, dedication, and perseverance. It requires the ability to push through obstacles, maintain a positive attitude, and keep one's focus on the goal. Nanyang Technological University (NTU) has been a haven for such determined and talented individuals who have gone on to achieve great success in their respective fields. One such inspiring alumna is Maisy Ang who has established herself as a prominent person in the financial industry, specifically in the realm of private wealth management. As the Managing Director of Fargo Wealth Management (Singapore), she has been instrumental in shaping the company's growth and success through her experience, the clients she has onboarded, and the culture she has created. CEO Insights Asia engages in an exclusive interaction with Maisy.

Give a brief account of your professional journey.

From my early days as an auditor at Ernst & Young, where I gained invaluable experience in auditing risk controls used by banks to manage trading risks, I've been fascinated by the intricate art of managing risk in the world of finance. My time at HSBC Private Bank as a derivatives specialist provided the perfect opportunity to leverage the knowledge I'd gained at EY to help clients extract returns from derivatives simply by managing the risks they undertook.

Over the course of more than a decade in HSBC Private Bank Investment Group, I gained a deep understanding not only of derivatives but all the capital market solutions available to ultrahigh net worth clients. It wasn't long before I started to manage clients' entire portfolios with the bank. Two years ago, I was headhunted to join Fargo Wealth Singapore, an External Asset Management (EAM) company as Managing Director, responsible for building clients’ relationships. Our parent company, Fargo Wealth Group, is headquartered in Hong Kong and we have offices across China and Singapore.

We manage ultra-high-net-worth clients’ assets  internationally through a network of private banks in Singapore, Hong Kong, New York, Liechtenstein, and Zurich. Ultra-high net worth clients typically prefer to work with professional wealth managers, like myself, who would manage not just one of their bank accounts, but their entire wealth portfolio. Not only does this save them time and energy, they now have access to a dedicated professional wealth manager who has a clear overview of their entire portfolio position and the risks their portfolios are exposed to. This total portfolio approach allows for the most efficient way of allocating assets in accordance with clients’ risk appetite and avoids taking unnecessary risks through duplicates or oversight. Fargo Wealth has provided me with the most ideal platform to manage my clients’ portfolios across private banks, in different jurisdictions, effectively.

What are important lessons you inculcated from NTU?

One of the most important lessons I learned in university was the value of collaboration. As a resident of Hall 6, I participated in various sports and hall activities and quickly realized that teamwork is crucial for achieving greater success than any individual could on their own. That was where I learned early on that collaboration is key to accomplishing more than what one can. The joy of victory is also shared among the entire team, making it a powerful motivator to work towards a common goal and support one another. This lesson has proven invaluable throughout my professional journey. A strong support system and a sense of camaraderie can help individuals navigate through difficult situations.

Collaboration is the key to success. By working together, we can achieve more than what we can as individuals

In my current role, I have to meet the complex and varied wealth needs of high-net-worth individuals in today's modern world. I must work closely with a range of partners, including custodian private banks, trust and insurance companies, government bodies, and other service providers. By collaborating effective together, we are able to provide a one-stop solution to our clients, ensuring that their wealth is managed expertly and seamlessly.

Describe your leadership approach. What is your success mantra?

My leadership has always been centered around a team-based approach. I believe that success is achieved not just through individual efforts, but through the collective efforts of a team working towards a common goal. To this end, I prioritize building strong relationships with all my partners, especially my team members and work to foster an environment of open communication, mutual respect, and trust. Overall, my success mantra is simple: always succeed as a team. By working collaboratively, valuing individual contributions, and fostering a sense of accountability and shared ownership, I believe that we can achieve great things together.

How do you develop effective corporate growth strategies?

I believe that the success of any organization is ultimately dependent on the caliber of its employees and partners. Not only do we have a strict hiring policy in place that prioritizes three key traits: integrity, a curious mind, and empathy. We choose all our partners carefully.

Integrity is critical because it sets the foundation for trust and transparency within the organization. We look for employees who are honest, ethical and committed to doing the right thing, even in difficult situations. This tone was set from the day the company was founded and continued in the Singapore office when it was set up by Joey Chan, Singapore CEO. A curious mind is also important because it drives innovation and creativity. We seek out individuals who are always looking for new ways to approach challenges. Finally, empathy is essential as it allows us to build strong relationships with our clients and partners. We want employees who are able to connect with others on a human level, and who are able to put themselves in their shoes to better understand their needs and perspectives.

How do you encourage a learning culture among your team?

One of the ways I encourage a learning culture is by promoting diversity in thoughts. I believe that diverse perspectives and experiences are key to unlocking new insights and ideas. By creating a culture of open communication and collaboration, we can encourage our team members to share their unique perspectives and insights. This helps to broaden our understanding of the market and uncover new opportunities.

Maisy Ang, CFA, Managing Director, Fargo Wealth Management (Singapore)

Winner of the Wealth briefing award 2022 for Growth Strategy, Diversity Programs, and independent wealth manager in the Private Banking category (Greater China Market). Maisy is a foodie, enjoys playing the piano and is a big supporter of the local theatre works.

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