Zurich-based EFG International has changed its Asia Pacific leadership structure with the appointment of four new market group heads.
EFG appoints four new market group heads as part of the realignment of its management structure in APAC to further drive the bank's growth strategy in the region, according to an emailed statement
«We are convinced that this new structure will enable our teams to leverage their deep market knowledge and their expertise in value creation and enhancement to better serve our clients,» said Albert Chiu, executive chairman of APAC.
Singapore Appointments
In Singapore, Oliver Balmelli takes on the new role of market group head for independent asset managers (IAM) and international private banking, reporting to Tho Gea Hong, CEO Singapore.
Also reporting to Tho is Yu Jin Tay, who assumes the role of market group head for Southeast Asia.
Hong Kong Appointments
In Hong Kong, Timothy Lo becomes market group head, Hong Kong for ultra-high net worth clients, reporting to David Louie, CEO of Hong Kong.
The bank also appoints Jessica Ng as market group head, in Hong Kong, reporting to Louie.
Separately, EFG board member Boris Collardi said the Swiss lender was aiming to hire about 100 private bankers worldwide in 2023 with 30 additions already made in Asia, particularly for the China and Southeast Asia markets.
