J.P. Morgan private wealth management in Asia has hired Edwin Lim, Gabriel Chan and Patrice Huang from DBS’s private bank, and Eric Goh from BNP Paribas’ wealth management arm.
Lim has joined as market manager for Greater China. He will be based in Hong Kong and has more than 25 years of experience in financial services, of which 20 are in private banking. At DBS, he was heading Northeast Asia private banking.
Chan is charged with leading the Singapore-based private wealth management Greater China bankers. He will continue to be based in Singapore. Chan was previously a team head for private banking in China and the North Asia markets at DBS.
Both Lim and Chan join at the level of MD.
Huang will cover private wealth management clients in Greater China. She will be based in Hong Kong and will report to Lim. She was earlier a team head for China and Taiwan clients at DBS. Huang joins at the level of vice-president.
Goh will lead the investing team for private wealth management in Singapore. He was earlier the head of investment advisory and regional head of investment consultants at BNP Paribas wealth management.
“We see the build out of our Greater China business as a key element to the expansion of our private wealth management business across Asia,” said Peter Flavel, chief executive officer of J.P. Morgan private wealth management in Asia. “[Lim] has great and long experience in the Northeast Asia market and is a valuable addition to our franchise.”
J.P. Morgan’s private wealth management business targets high-net-worth clients with a net worth between $10 million and $30 million, while the private bank focuses on ultra-high-net-worth clients with a net worth of more than $30 million.
In response to a query about Lim’s departure and the appointment of a successor, DBS said: “Edwin Lim, who currently serves as DBS’s head of private banking for North Asia will leave the bank in June 2011. DBS private bank is expected to appoint a successor shortly. In the interim, Tan Su Shan, group head of wealth management, Olivier Crespin, chief operating officer, and V Arivazhagan, regional investment and treasury products head, will oversee the day-to-day operations of the North Asia private banking business and ensure that the business continues to run smoothly.”