A former managing director from HSBC Private Bank joins Deutsche Bank Wealth Management to lead its Southeast Asia unit.
Chow Shang-Wei joins Deutsche Bank Wealth Management as its head of Southeast Asia, effective July this year, following the transition of the retiring predecessor Kwong Kin-Mun.
Chow was most recently with HSBC Private Bank where was a managing director and market head for Singapore and Malaysia before exiting in April this year. Previously, Cho was also with UBS between 2004 and 2016 covering various southeast Asian markets and Australia.
New Boss
Replacement of the southeast Asia head follows the hire of ex-Credit Suisse banker Claudio de Sanctis as the new wealth head in November last year. After just 11 months with the German lender, De Sanctis rose to the ranks to become the third executive to lead Deutsche’s private bank in five years.
Although Deutsche Bank is attempting to downsize or exit traditional strongholds like equity sales, trading and prime brokerage, it remains committed to private banking and to Asia. In lat 2019, its chief operating officer for Asia Pacific Chandra Mallika reportedly called the region «not just a growth engine for the bank but is also very important competitive differentiator for the bank globally».
