The Swiss private bank is nabbing a team of five private bankers from heavyweight UBS to tackle the Chinese market.
EFG is hiring Kitty Chou as its head of independent asset managers for north Asia, the Swiss wealth manager said in a statement on Tuesday. She was most recently UBS' Hong Kong hub head for the same business.
Along with Chou, EFG is poaching four more bankers from UBS: her deputy, Kenneth Chan, as well as bankers Karen Ho, Amanda Fong, and Alice Chan. The move is a coup for EFG: Chou's team was one of the first banks in Hong Kong to establish a sizable business with independent asset managers.
Shuffling Roles
The new team will link up with Kelvin Tan, who is team leader in Hong Kong. Both Tan and Chan will report to Chou. The team is expected to work closely with their counterparts in Singapore, who are led by Gino Ragazzini.
«Our strong financial results for 2019 confirm that we have successfully shifted our focus from integration to growth,» said the bank's deputy head of Asia Pacific Angela Bow, who joined from Julius Baer nearly one year ago.
