Three former UBS executives with significant experience across Ultra High Net Worth, Family Office and business development have joined forces to open a new investment and advisory firm in Hong Kong.
As a privately owned and independent boutique firm, Lioncrest Global, which launched today, is set to focus on serving select institutions, family offices and high-net-worth families and individuals.
Lioncrest Global is a partnership of three former colleagues and Managing Directors from UBS Wealth Management Asia Pacific, collectively with more than 60 years of experience in wealth management, asset management and corporate finance. Lioncrest Global officially commenced business in Hong Kong on 11 November 2016.
A Growing Movement
The move by the three senior wealth professionals comes as more and more experienced wealth managers in Asia decide to step away from the corporate culture where clients are institutionalised.
Conflict of interest with client interests and self serving house views has also seen many client managers leave the banking industry to form their own independent asset management firms in order to work in a deeper and more holistic relationship with a select group of clients.
Growing Competition for Private Banks
The new team at Lioncrest Global look likely to hit the ground running having been prominent in the wealth management business in Asia for a considerable time. The team consists of:
Peter Tung, former Head of Ultra High-Net-Worth for Greater China, Head of Global Family Office for North Asia and member of the Asia Pacific Wealth Management Executive Committee at UBS, and former Managing Director, Country Manager for Taiwan and Philippines and member of the Asia Management Committee at Morgan Stanley Private Wealth Management.
Valerie Chou, former Head of Global Family Office for Asia Pacific at UBS Wealth Management, former Managing Director and Investor Representative at Morgan Stanley Private Wealth Management, liaising between Wealth Management and Institutional Securities Group and Investment Banking respectively, and former portfolio manager at Aetna Investment Management.
Johan Riddergard, former Head of CEO Office, Head of Pricing Management and Head of Strategy & Business Development at UBS Wealth Management Asia Pacific, former Regional Business Development Officer at Winterthur Life (Asia Pacific Office), and former McKinsey & Company consultant and member of its Emerging Markets Financial Institutions Practice.
