VP Bank has poached an industry veteran from Indosuez as its head of private banking in southeast Asia, several sources told finews.asia.
By Shruti Advani, Guest Contributor finews.asia
The Liechtenstein-based private bank hired Karen Tan as its head of wealth management in Southeast Asia, finews.asia has learned. She was poached from Indosuez, the private bank of Crédit Agricole, and is thought to be taking a team with her.
A spokesman for VP Bank confirmed the hire of Tan, which is effective on Friday, without elaborating. She is the latest in a series of hires since the exit of Asian head Andrew Tjia for BMO late last year. In March, VP poached Kimmis Pun from Standard Chartered to run its Singapore branch.
Asia Growth Plans
The hires come after VP enlisted the help of former Julius Baer Asia banker Tom Meier to help bolster its business in Asia. The bank aims to double its headcount in the region - currently at 50, in private banking and in intermediaries by 2020.
In the months preceding Pun's hire, VP had also bulked up for Indonesia with ex-RBC banker Samuel Witjaksono, ex-Credit Suisse risk specialist Claude Chevroulet as operating chief, and French private banker Bruno Morel from CIC to run its Singapore office.
Like Morel, Tan was also a long-standing banker at CIC. She had only moved to Indosuez last December.
