VP Bank's head of private banking in Singapore has resigned, finews.com has learned. Just ten months in the job, she fell victim to a trimming of management at the Liechtenstein-based lender.
In a surprise move, VP Bank's head of private banking in Singapore Kimmis Pun has resigned from the role, a source familiar with the matter told finews.com. Pun had spent just ten months in the job.
A spokeswoman for VP Bank confirmed Pun's departure as part of «management streamlining» at the bank. Karen Tan, whom the bank poached last August as head of private banking, Southeast Asia, will take over Pun's responsibilities.
Wealth Veteran
Pun is a veteran private banker who previously was managing director and market head for China, Hong Kong, and Taiwan at Standard Chartered's private bank for three years before accepting the role at VP, which is based in Liechtenstein. Before Standard Chartered, Pun was head of the China business at BNP Paribas' private bank, and an executive director at UBS prior to that.
VP has doubled it staffing in Singapore in the last 18 months. Last week, the bank said it is hiring UBS banker Reto Marx in Singapore as head of client business at the end of January. Marx will be responsible for private banking, intermediaries, investment advisory and treasury.
