The wealth management arm of Morgan Stanley has hired private bankers from HSBC and UBS in the region, finews.asia has learned.
Edwin Lim will join Morgan Stanley Private Wealth Management Asia as a Hong Kong-based managing director and sales manager, according to an internal memo seen by finews.asia. He will also join the bank’s Asia Wealth Management Operating Committee.
Lim is a longtime industry veteran after starting his private banking career in 1990. He was most recently a managing director and market head for offshore China at HSBC Global Private Banking with around 70 relationship managers under his purview.
Fixed Income Hire
In addition, the memo noted that the US private bank also hired Terence Yu as co-chief investment officer and head of discretionary fixed income business, also based in Hong Kong. Yu has over 20 years of fixed income and capital markets experience, most recently at UBS as the head of its regional fixed income advisory team.
When contacted, a spokesperson for the bank confirmed the contents of the memo. As of end-2023, Morgan Stanley was the fourth largest private bank in Asia with $152 billion in assets under management, according to finews.asia data, up 8.6 percent year-on-year.
