ABN Amro Private Banking announced a key management appointment yesterday, and at the same time revealed that it had brought its Asia and Middle East businesses together under one management structure.
The Dutch bank has hired Hans-Peter Borgh in a newly created role as chief commercial officer for Asia and Middle East. He starts his job on August 1 in Singapore, and his responsibilities will include strategy, business development, performance and sales management as well as marketing and communications.
He will be a member of the Asia and Middle East Private Banking Management team and report to Hugues Delcourt, CEO, Private Banking Asia and Middle East.
Borgh has an “impressive track record, knowledge of the wealth management industry and Asian experience [which] make him the ideal person to reinforce the bench strength of our management team”, said Delcourt in a statement.
Borgh will leave Australia and New Zealand Banking Group (ANZ), where he is the regional head of affluent banking, Asia Pacific, in charge of its wealth management business across 21 countries. He has been based in Singapore since 2004.
ABN Amro also said that in recognition of the increasing business and operational synergies between Asia and the Middle East, the bank has aligned its activities in the Middle East — particularly its Dubai operations — more closely with its Asian private banking business, by integrating both regions in a “Private Banking Asia and Middle East” management structure.
The expanded new division employs 115 relationship managers and about 60 product specialists in Singapore, Hong Kong and Dubai.
The bank set up its first branch in Singapore in 1858. In its present form, ABN Amro was created from the legal merger of its Dutch business and Fortis Bank Nederland in 2010. The combined entity employs 28,000 staff across 28 countries and territories, serving 6.8 million clients.
Commenting on Borgh’s appointment, Jeroen Rijpkema, global head of private banking international said, “This key appointment shows our continued commitment to Asia and the Middle East and highlights the importance we place in placing the right people and talent with the team.”
