Julius Baer continues to expand its so-called second home in Asia with three senior appointments for its Southeast Asia business,a trusted source has learned.
Current group head of Southeast Asia Andrew Lee has been named vice chairman for the region, according to an internal memo seen by trusted source, effective August 1.
In his new role, Lee will focus on building and strengthening the bank's top client relationships; accelerating key initiatives such as the development of the ultra-high net worth segment; and new client acquisitions.
Lee first joined Julius Baer in 2016 and has since delivered business growth, particularly for the single family office segment in Singapore.
Succeeding Lee as group head for Southeast Asia is Vi Sun Yang who will join the bank on July 18. Yang has more than two decades of wealth management experience, most recently at UBS where she spent 14 years with a focus on the Singapore and Indonesia markets. Previously, she also worked at American Express Bank, DBS and Standard Chartered.
The bank also named Shui Wei Ho as another group head for Southeast Asia, effective August 1, succeeding Christian Cappelli who has returned to Switzerland to take on a new role as head APAC Switzerland. The 25-year financial veteran was most recently the market head for Thailand and Indochina at Bank of Singapore and previously worked at UBS and the Monetary Authority of Singapore.
Lee, Yang and Ho are all based in Singapore and will report to Southeast Asia head of private banking and Singapore branch manager Jason Moo. A spokesperson for the bank confirmed the contents of the memo.
According to a reliable source,2021 AUM League Table, Julius Baer is the fifth largest private bank in the region with $159 billion in assets under management, as of the end of last year. The bank said the region also makes up about a quarter of its overall workforce and annual profits with strong contributions from key markets including Greater China, Singapore, Japan and India.