Credit Suisse has appointed a new head of wealth planning for Asia Pacific, finews.asia has learned, succeeding family office veteran Bernard Fung.
Thomas Ang has been named head of wealth planning APAC, according to an internal memo seen by finews.asia, effective today.
Ang has more than 17 years of experience working with business families across the region including the setting up of family offices, drafting of the family constitutions and the implementation governance frameworks.
He first joined Credit Suisse in 2008 and was a key contributor to the setup of the bank’s family office services business in 2011.
Continued Hiring
Despite negative headlines throughout the year, Credit Suisse remains focused in the region, particularly in private banking where it has made a net hire of 50 relationship managers including in India, Southeast Asia, Hong Kong, Japan and Australia.
Within the family office segment, it appointed former senior legal counsel of Chow Tai Fook Enterprises Jennie Lau as a family office specialist in April this year.
Bernard Fung
Ang replaces Bernard Fung who will remain with the bank until November and, according to sources, return to the family office sector.
Fung is a seasoned and renowned specialist in family offices, private investing and philanthropy in the region. He previously worked for Lord David Sainsbury’s investment vehicle Innotech Advisers as its chief executive for nine years and is the deputy chief executive for Singapore-based SymAsia Foundation.
He first joined Credit Suisse in 2011 as its Singapore-based head of family office services before being made APAC head of family office services and philanthropy one year later and APAC head of wealth planning in 2017. He is also an impact committee member of the Asian Impact Investment Fund which is based on a UOB-Credit Suisse partnership in Singapore.
