J.P. Morgan hires an ex-private banker from Credit Suisse to cover Chinese clients out of Singapore.
Elaine Zhang joins J.P. Morgan Private Bank as a managing director and China market leader, according to a statement, with expectations to start in August.
In her Singapore-based role, Zhang reports to the bank's head of Singapore and Southeast Asia James Wey.
Zhang has over 20 years of private banking experience with a focus on ultra-high net worth Chinese clients and leading China market relationship managers. She was most recently a market leader for Greater China in Singapore at Credit Suisse where she served for more than a decade. Previously, she had also worked with the former American Express Private Banking, DBS and Bank of China.
Singapore-Based China Wealth
Zhang’s hire is part of a broader plan at J.P. Morgan to double the number of Singapore-based private bankers covering Chinese wealth over a two-year period to capture related opportunities, especially from mainland corporates choosing the city-state as a headquarter.
When the plan was announced in August, the American lender had 12 such relationship managers.
In addition to building client relationships and delivering wealth management solutions, Zhang has also been tasked with attracting and training China market specialists in Singapore.
