Bank of Singapore Appoints ex-UBS Head Paul Chua as Global Head of Wealth Planning, Target Family Offices with $250 Million
21st June 2021 | Singapore
Bank of Singapore, the independent private banking group of OCBC Bank with $123 billion AUM, has appointed Paul Chua as Global Head of Wealth Planning, in the private bank’s drive in providing Wealth Planning, Family Office, Trust and Succession Planning services to clients. Paul Chua joins from UBS, where he was the Head of Wealth Planning Singapore, and will lead the team to provide wealth planning services to UHNW & HNW families and to family offices with more than $250 million, in Southeast Asia, Greater China, Middle East and Europe.
” Paul Chua – Global Head of Wealth Planning, Target Family Offices with $250 Million “
AUM ~ Assets under Management
UHNW, HNW ~ Ultra High net worth, High net worth
Paul Chua, Global Head of Wealth Planning Joins from UBS
Paul Chua has more than 30 years of tax and wealth planning experience in advising UHNW and multi-generational families on the structuring of their estate, succession, and wealth transfer strategies. Paul joins from UBS where he was the Head of Wealth Planning Singapore, and played pivotal roles in developing wealth planning, trust and advisory offerings across Southeast Asia and North Asia.
Paul Chua appointment as Global Head of Wealth Planning will be effective from 28th June 2021, and will report to Lim Leong Guan who is Bank of Singapore Global Head of Product.
Tariq Salem will step down as Global Head of Wealth Planning, and focus on his role as Head of the Structured Solutions Group. Tariq Salem was instrumental in supporting the setting up of family offices in Singapore and growing the team of wealth planners in Singapore, Dubai and Hong Kong.
Wealth Planning, Family Office Drive
In 2021, Bank of Singapore has been making strategic hires and key appointments to strengthen wealth planning and family office capabilities globally, and to serve its Global Investors and Family Office segment. The Global Investors and Family Office segment have a net worth of at least $250 million, with the number of family office clients on-boarded to Bank of Singapore tripled in 2020 from the previous year 2019.
In March 2021, Bank of Singapore had hired Carrie Ng as Head of Single Family Office Advisory and in February 2021, hired Joanna Ho from HSBC Private Bank as the Head of Wealth Planning, Greater China and North Asia.
Bank of Singapore
Bank of Singapore is the independent private banking group of OCBC Bank, which is Southeast Asia’s 2nd largest bank and headquartered in Singapore.
Bank of Singapore was founded in 2010 following the acquisition of ING Asia Private Bank by OCBC Bank in 2009. In March 2021, Bank of Singapore reported $123 billion in Assets under Management (AUM).
Bank of Singapore Global Head of Products, Lim Leong Guan:
“As Asian families are on the cusp of a significant intergenerational transition of wealth, we are committed to helping our clients to not only grow, manage and protect their wealth, but also consciously build their legacy for future generations.
We are pleased to welcome Paul to the Bank of Singapore family. He has a wealth of experience in dealing with complex family situations by implementing tailored strategies to meet varying needs and objectives. Aside from exemplary leadership qualities, Paul is known as an industry veteran who extends a personal touch when dealing with clients. We are confident that he will be a key addition to our wealth planning team to help develop deeper and more meaningful relationships with our clients.”
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