J.P. Morgan has hired an industry veteran to lead its private banking operations in Asia, finews.asia has learned.
Siok-Hoon Tan joins J.P. Morgan as a managing director and head of Asia private bank operations, sources told finews.asia.
In her new role Singapore-based role, Tan reports to head of international private bank operations Bertrand Gontier and Asia chief executive Kam Shing Kwang.
Tan has nearly three decades of banking experience with a focus on back-office capabilities. She joins from Bank of Singapore where she was its head of operations, according to her LinkedIn profile, and previously spent over 14 years with UBS, last as its Singapore head of group operations.
When contacted, a spokesperson for the bank confirmed the new hire.
PB Expansion
Meanwhile, J.P. Morgan will look to further expand its private banking business in Asia.
According to a recent «Reuters» report citing unnamed sources, the American private wealth manager plans to increase its regional headcount by more than 100 this year.
Around one-fifth of the new hires will be focused on mainland China after the bank made 42 hires in 2021 for the client segment, bringing the team to a total of 80.
