Deutsche Bank has bulked up its Southeast Asia private wealth management team with seven appointments, including Kwong Kin Mun as head of the region.
Yesterday the bank appointed Kwong as head of Southeast Asia private wealth management. He joins from Singapore-based bank DBS where he was head of private banking for South Asia. He will continue to be based in Singapore and report directly to Ravi Raju who heads private banking for Deutsche in the Asia-Pacific. Deutsche hired Raju from Citi in 2007 with a remit to grow the wealth management business.
Kwong has spent 28 years in the private banking industry and worked at Citi, Standard Chartered, UBS and Merrill Lynch before he joined DBS.
Deutsche has also hired six relationship managers in wealth management, to be located in Singapore. Khushroo Dastur who used to be at Citi, has been appointed team head with a managing director designation. Yeo Yek Kian who was earlier at UBS joins as a director. Both Dastur and Yeo have already started at Deutsche.
Over the next eight weeks Yoon Phooi Leng will join as a senior client banker, at MD level. He was earlier at UBS. Didi Kurniawan will join as director and team head from Merrill Lynch. From DBS private bank Mabel Chua will join as group head Southeast Asia at the MD level while Mary Lee will join as director.
The new Singapore-based hires add to appointments Deutsche made in Singapore earlier this year. Deutsche appointed Christian Nolting regional head of portfolio management and lead strategist for Asia-Pacific, and Peter Pfister as director for private equity investments in the region.
Deutsche Bank private wealth management had €23 billion ($35 billion) of invested assets in Asia-Pacific as of September 30, up from €18 billion at the end of calendar 2008. It has 700 staff in the region, across 14 offices in nine markets.
