DBS Private Bank today announced the appointment of two senior private bankers to its Indonesia team based in Singapore. Stanley Puah Soon Kwang and Tan See Wee will help to drive the bank’s private banking business and deliver growth for the Indonesia market.
Stanley Puah, 46, joined DBS in January as senior vice president and team leader for the Indonesia market. In his new role, Puah will manage a team of up to 10 private bankers. He has been tasked to further grow DBS Private Bank’s market share in Indonesia, with a special focus on cities like Jakarta, Medan, Bandung and Pekanbaru.
Most recently, Puah was with HSBC Private Bank Singapore as a senior director managing ultra high net worth clients in Indonesia and other regional markets. With some 22 years of experience growing relationships and assets from Indonesian clients, Puah’s in-depth knowledge of the market will help DBS accelerate the pace of growth of its private banking business in the USD 80 billion Indonesia HNWI market. Puah had also previously worked at Merrill Lynch, Citi Private Bank, Coutts Bank Singapore and UBS.
Tan See Wee, 43, rejoined DBS in January as senior vice president and deputy team leader. Tan brings to DBS 20 years of investment management, asset allocation and risk analysis expertise in various asset classes including stocks, bonds, private equity and hedge funds. He started his banking career with DBS in the early 90s, focusing on asset management and investment banking.
Tan joined DBS from Great Eastern Life Assurance where he was most recently its head investment strategist for the regional investment division. Previously, Tan also worked at UBS, Citi Private Bank, Invesco Asia in Hong Kong and Merrill Lynch Investment Managers in London. He was also a founding partner of VinChi Capital, a private equity firm that focused on real estate and infrastructure opportunities in Vietnam.
Tan Su Shan, Group Head of Wealth Management at DBS, said, "As we work towards becoming the leading private bank in Asia, one of our priorities over the last year has been to focus on training and grooming talent from within. To support our growth ambitions, we have supplemented this with a number of strategic hires. Our ability to attract highly experienced, high-calibre people to DBS Private Bank is testament to the strength of the DBS brand and our Asia franchise. With the rise of Asia, increasingly, we are seeing private bankers gravitate towards opportunities presented by being part of an Asian bank, offering Asian portfolio solutions."
DBS Private Bank has been named the "Best Local Private Bank in Singapore" for four consecutive years (2007-2010) by the Euromoney Private Banking Poll. It was also voted as the "Best Domestic Private Bank in Singapore" in the Asiamoney Private Banking Poll in July 2010. In October 2010, DBS Private Bank was named "Best Private Bank in Singapore" by The Banker and Professional Wealth Management, which are part of the Financial Times Group.
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