Shortly after the surprise exit of its group CEO, VP Bank announced changes to its leadership team in Asia.
VP Bank has appointed Pamela Phua as head of the Singapore branch in addition to her existing role as CEO Asia, according to a statement, effective July 1. Phua replaces Johnny Heng who will be stepping down to pursue other opportunities.
«I look forward to driving the bank towards our Strategy 2026 goals and consolidating our position in the industry,» Phua commented. «We remain focused on delivering value to our employees, clients and partners.»
Intermediaries Segment
Also effective July 1, current intermediaries team head Michel Hofstetter will become head of intermediaries, Singapore, reporting to Phua.
Hofstetter has more than 20 years of experience working with intermediaries after joining VP Bank in 2022. In his new role, he will focus on further growing the business, which is a key segment for the bank, and increasing the share of wallet in the market.
Private Banking
Finally, Heng Yeow Kwang has been appointed as head of private banking, Singapore, as of June 2024, reporting to Phua. Heng has 30 years of wealth management experience and was most recently market head for Indonesia, the Philippines and Japan at UOB Private Bank. Prior to that, he also worked at Bank of Singapore, Credit Suisse, Deutsche Bank and Nomura.
The latest appointment was announced shortly after the surprise exit of group CEO Paul Arni who left after five years with the Liechtenstein-based bank. Chief Operating Officer Urs Monstein will take over the role as CEO on an interim basis.
