New Asia CEO for J.P. Morgan’s private bank
(14 March 2017 – Asia) J.P. Morgan Private Bank has named a new CEO for Asia. The move comes after last September's internal shift which saw Andrew Cohen named Head of J.P. Morgan's international private banking business.
Kam Shing Kwang succeeds Andrew Cohen to be the Asia CEO, while she will retain her role as the Senior Country Officer for J.P. Morgan Hong Kong which she was named in 2015.
In the new position Kwang will continue to report to Cohen and be based in Hong Kong a spokesperson for the bank confirmed.
Kwang previously held the role of Managing Director and Market Manager for Hong Kong, China the Philippines and Thailand and was Head of J.P. Morgan Private Bank in Singapore, with responsibility for the local market along with Indonesia and Malaysia.
Private banks, and financial advisers are seeing a marked increase in engagement from Asia’s High Net-Worth Individuals (HNWIs), according to East & Partners Asia’s Asia Wealth Index. As the region’s rich continue to move away from self-managed investments, they are favouring private banks (28 percent) and financial advisers (13 percent).
“As the economy goes through more uncertainty, HNWIs are looking for professional management of their wealth and East expects to see this trend to continue in the foreseeable future,” said Amit Alok, East & Partners’ Asia Business Head.
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