MOVES-Pictet revamps Asia leadership in growth push

ZURICH, Aug 19 (Reuters) - Swiss wealth manager Pictet will revamp its leadership in Asia as part of a growth push in the region, it said on Monday.

Claude Haberer, equity partner of the Pictet Group, will become chairman of Pictet Wealth Management (PWM) Asia from October. Tee Fong-Seng will succeed him as PWM Asia chief executive, Pictet said in a statement.

Tee was most recently chairman of EFG Bank’s Asia advisory board. He had previously been Credit Suisse’s vice chairman in Asia and CEO of its Hong Kong branch. The Singapore national will be based in Singapore.

Alex Ng will take over from November as CEO Hong Kong Branch and of PWM North Asia from Sharon Chou, who will assume the new role of deputy CEO of PWM Asia.

“Ng, along with a team of 18 professionals with Greater China expertise, will be based in Hong Kong,” it said.

“Reinforcing PWM’s leadership in Asia with the appointments of Tee Fong-Seng and Alex Ng along with this major recruitment initiative for Greater China reflect PWM’s continued commitment and ambitions in Asia and set the stage for the next phase of growth in the region,” Boris Collardi, Pictet’s managing partner responsible for PWM Asia, said in the statement.

Geneva-based Pictet Group had $503 billion in assets under management at the end of 2018. (Reporting by Michael Shields; editing by Jason Neely)