Underpinning the increasing importance of wealth planning among Asia’s high-net worth and ultra-high-net worth wealthy, Bank of Singapore today announced that it is bringing on board two wealth planning veterans to strengthen its wealth planning expertise for wealthy families.
Ms Christine Wong (黄春熖) joined as the new Head of Wealth Planning, Greater China and North Asia (財富規劃主管大中華及北亞) at its Hong Kong branch on 19 May 2022. She reports locally to Ms Teresa Lee (李凯琳), Head of Greater China, Hong Kong Branch (私人银行业务香港总监 大中华区), and functionally to Mr Paul Chua (蔡源按), Global Head of Wealth Planning (财富策划主管). Mr Chua is based in Singapore. Ms Wong will be responsible for managing and growing the bank’s wealth planning, family office and trust offerings where she and her team will provide holistic solutions to clients in Greater China and North Asia.
Ms Guo Jiawen (郭家汶) will join as Senior Wealth Planner (高級財富規劃師) on 16 June 2022 and is based in Singapore. She will report to Mr Chua. Ms Guo’s key responsibilities include helping clients achieve their wealth planning objectives especially in relation to their succession, legacy and asset preservation needs by advising on the use of trusts, other holding vehicles as well as providing guidance on estate planning strategies.
Ms Teresa Lee, Head of Greater China, Hong Kong Branch, Bank of Singapore said, “Wealthy families in Asia are no longer just focused on creating wealth; they are increasingly looking at succession planning for their businesses and wealth inheritance. The Covid-19 pandemic has further accelerated this shift, having reminded families of their potential vulnerabilities and the importance of planning with stability and longevity in mind.”
Mr Chua added, “We are delighted to welcome Christine and Jiawen to the Bank of Singapore wealth planning family. They both bring strong and extensive knowledge and experience in wealth planning advisory and solutioning for wealthy families in Asia. These key appointments are testament to Bank of Singapore’s commitment to be the partner of choice for our clients as they journey in growing, managing and protecting their families’ assets and legacy over time.”
Ms Wong is an industry veteran with over 25 years of trust and wealth planning experience, assisting wealthy families in Greater China and North Asia on the strategic structuring of their trust, tax, estate and succession plans. She has held a variety of senior wealth planning positions within the wealth management industry, including Edmond de Rothschild, Credit Suisse and HSBC Private Bank, where she was the Head of Private Wealth Solutions for Greater China responsible for the growth and management of HSBC’s wealth planning and trust business for Greater China market. Ms Wong holds a Bachelor of Commerce (Accounting & Finance) degree from the University of Melbourne, Australia and a Bachelor of Law degree from the University of London.
Ms Guo has more than a decade of experience working on various complex estate and succession planning projects with ultra-high and high-net-worth families, including advising families on the establishment of trusts and philanthropic vehicles. Her legal background in tax and private client advisory work enables her to provide holistic solutions and advisory services to families in relation to their estate, succession and wealth transfer needs. Ms Guo was most recently a Wealth Planner with UBS AG Singapore, where she led the wealth planning initiatives for North Asia. She holds a Bachelor of Laws degree from the National University of Singapore and was awarded by The Legal 500 in the category of Next Generation Lawyer in Private Wealth in 2017 and 2018.
These appointments are the latest in a series of strategic hires that have strengthened the bank’s wealth planning and family office capabilities globally and to better serve its Global Investors and Family Office segment – a key area of expansion for Bank of Singapore. Clients in this segment have a net worth of at least US$250 million. The number of family office clients who were onboarded onto the bank’s platform doubled from 2020 to 2021.
Bank of Singapore appointed Mr Chua on 15 June 2021 to drive the expansion and innovation of the bank’s wealth planning and family office capabilities, as well as holistic solutions and advisory services to ultra-high and high net worth families across the bank’s core markets in Southeast Asia, Greater China, Middle East, and Europe.
Another addition to the wealth planning team was Ms Carrie Ng (黄惠萍) as Head of Family Office Advisory (家族辦公諮詢主管) on 23 March 2021. In this newly-created role based in Singapore, her key responsibilities include working with ultra-high net worth families to formulate, review and implement their family office solutions in line with their long-term succession plans.
