Singapore’s largest bank and the only Singaporean bank among the top six wealth managers in Asia DBS, has announced the addition of a well known wealth manager and a calibration of senior management.
The bank has confirmed in a statement that Lawrence Lua has been promoted to Deputy Head of DBS Private Bank. Lua was previously Head of South & Southeast Asia at DBS Private Bank and will continue to report to Tan Su Shan, Group Head of Consumer Banking & Wealth Management.
Lawrence Lua joined DBS Private Bank in 2011 and has been instrumental in driving the bank’s private banking business in South and Southeast Asia. The bank said his promotion underscores DBS’ commitment to internal mobility and talent development as the bank continues to build upon its successes in the region.
Family Office Expertise
The bank also confirmed the appointment of Joseph Poon who has joined the bank as Regional Head of South East Asia, DBS Private Bank., effective 16 August 2016.
Poon was most recently Head of UBS Wealth Management - Ultra High Net Worth (clients with over CHF 50 million of bankable assets) and Global Family Office businesses for South East Asia. He is a veteran in the wealth management industry and has held various senior positions at several leading private banks, including Julius Baer, Macquarie Private Bank Asia and JPMorgan Singapore.
Joseph Poon, Jun Tjandra, Head of North Asia Private Banking and Rob Ioannou, Head of International, will report to Lawrence Lua.
As of March 2016, DBS’ high net worth assets under management (HNWIs with more than SGD1.5 million each in investible assets) and assets under management for all wealth customers stood at SGD101 billion and SGD147 billion respectively.
