The senior banker joins from Pictet, where she was the head of its Asia family office unit since 2019.
Liechtenstein-headquartered VP Bank has hired Pamela Hsu Phua as CEO of VP Bank Asia, effective July 1, 2021. She will be responsible for the boutique private bank's operations in Hong Kong and Singapore, where she will be based, according to an announcement on Wednesday.
Phua brings more than 20 years of finance experience, mainly in private banking. Besides Pictet, she has worked for Julius Baer, Credit Suisse, and BNP Paribas in London, Zurich, Singapore, and Hong Kong.
Her appointment comes amid the departure of Bruno Morel, chief executive officer of VP Bank Singapore, who suddenly stepped down from his position at the end of March.
Asia Focus
Asia plays prominently in VP Bank's «Strategy 2026,» which targets to generate net revenue of 100 million Swiss francs ($109.35 million) in five years, with a significant contribution coming from the region. The bank has also maintained its expansion momentum in Asia, despite the ongoing coronavirus pandemic.
«Under her leadership, we will jointly expand our activities in Asia. Our goal is to be an international Open Wealth Services pioneer, focusing on intermediaries and private clients,» Paul Arni, CEO of VP Bank, said about the appointment.
New Chief of Staff
Joining Phua from Pictet is Heline Lam, who was the bank's head of HR, Asia. She will take on the role of chief of staff at VP Bank Asia from the beginning of May, reporting directly to Phua.
She brings a wealth of experience in financial services and private banking gained in Hong Kong, Shanghai and Singapore.
