Standard Chartered Private Bank hires a former private banker from HSBC to join its Singapore business.
Adeline Lai joins Standard Chartered Private Bank as an executive director, according to a note from the bank, to bolster its Southeast Asia business via the Singapore office.
In her new role, Lai reports to Gavin Chia, market head for Southeast Asia.
Lai has nearly 30 years of banking and wealth management experience and was most recently a senior director with HSBC. Previously, she had also worked for the likes of DBS, UBS and Citi.
30-40 Private Bankers Per Year
The new hire is in line with the London-headquartered private bank’s plans to hire 30-40 relationship per year over the next two to three years. This is part of a broader aim to grow its assets under management (AUM) to about $100 billion in three to five years.
«Our ambition is to see us cross the $100 billion mark,» Standard Chartered’s global head of private banking Didier von Daeniken reportedly said. «That makes us meaningful internally for the group, that makes us a meaningful player in this landscape. Hitting $100 billion can give us credibility internally, help us to attract talent.»
Standard Chartered Private Bank currently houses about 300 relationship managers and $65 billion in AUMs.
