The private banking arm of Barclays has bolstered its portfolio management capabilities in Singapore with the hire of two former Credit Suisse executives, finews.asia has learned.
Barclays Private Bank has appointed Ong Shun Wei as head of discretionary portfolio management (DPM) Singapore, according to an internal memo seen by finews.asia.
Ong was most recently working at Credit Suisse Asset Management (CSAM) as senior portfolio manager for Asian and emerging market bonds as well as lead portfolio manager of Singapore-booked discretionary mandates in the fixed income Asia team. Earlier in his career, he led a team of portfolio specialists at Goldman Sachs Asset Management covering Asian, Australian and global multi-sector fixed income strategies.
Senior Portfolio Manager
The British private bank has also named Stephen Zhu as a senior portfolio manager. Zhu also joins from CSAM where he was a senior portfolio manager in its Asia fixed income team, co-managing the Credit Suisse RMB Credit Bond Fund as well as Asia and emerging market-focused fixed income mandates, and a member of the emerging market investment committee. Previously, he worked at UBS as a senior credit analyst.
Ong and Zhu join the global DPM team reporting to Olivier Asselin, global co-head of investment management for Barclays Private Bank & Wealth Management.
When contacted, a spokesperson for the bank confirmed the contents of the memo.
