The private banking business of J.P. Morgan established a China desk in Singapore and has recruited from Swiss rival UBS.
Former UBS banker Stella Lau has been named as team lead for the newly created China desk at J.P. Morgan's private banking (JPM) unit in Singapore. Lau will report directly to Grace Lin, head of China market at JPM who is based in Hong Kong and who also spent 10 years with UBS earlier in her career.
Lau joins from UBS Singapore where she worked for five years. Her last role at the Swiss firm was as head of the business with ultra-high net worth clients from Greater China and Singapore. A spokesperson for the U.S. bank confirmed the move to finews.asia.
In March this year JPM named Kam Shing Kwang as CEO for the bank's private banking business in Asia. The move came after last year's move which saw Andrew Cohen named head of JPM's international private banking business.
Kwang previously held the role of managing director and market manager for Hong Kong, China, the Philippines and Thailand and was head of JPM private bank in Singapore, with responsibility for the local market along with Indonesia and Malaysia.
