Singapore’s largest bank DBS has rewarded the regional head of its mass affluent business by promoting and relocating him to Hong Kong to head up the consumer and wealth management in the city.
Royce Teo takes over from Pearlyn Phau, who was recently named deputy group head of the consumer banking group and wealth management of DBS bank in Singapore, according to a report by the «Asian Investor» (article behind paywall).
Prior to the new Hong Kong role Teo was the head of DBS Treasures Private Client and DBS Treasures across Singapore, China, Taiwan, Indonesia, India and Hong Kong. He will report to his predecessor Pearlyn Phau and the CEO of DBS in Hong Kong Sebastian Paredes.
Realigning Wealth Management
Royce also previously headed other teams within DBS’ Risk Management, Analytics, Audit and Innovation groups. His other banking industry experience included stints in major global banks, Standard Chartered Bank (SCB) and Citibank. At SCB, he was the Head of Strategic Planning for Group Credit and concurrently the Program Director for Basel II. At Citibank, Royce was the Head of Strategic Planning Unit, responsible for credit operations in Global Consumer Banking.
After the departure of Domenic Fuda from DBS to Malaysia's Hong Leong Bank as finews.asia reported here Pearlyn Phau returned to DBS headquarters in Singapore, where she reports to Tan Su Shan, group head of consumer banking and wealth management at DBS.
