Wealth Management – where does the industry go from here?

Having graduated in 1986 from Edinburgh University with an Honours Law Degree and Postgraduate Diploma in Legal Practice, Simon started his financial career with J.P Morgan / Saudi International Bank in London, New York and the Middle East specialising in corporate finance solutions for High Net Worth, Corporate and Family Office clients. In 1994, Simon moved to Clydesdale Bank PLC (then part of the National Australia Bank group) to build the Specialised Finance Unit before being asked (in 1999) to join the board of one of Scotland’s largest privately owned companies (Strathclyde Pharmaceuticals Limited) as Business Development Director. In 2006, upon the successful growth and sale of the principal parts of that business, Simon joined UBS AG in Scotland to drive forward its Scottish wealth management business. In 2008 Simon moved to Credit Suisse in Singapore to establish and develop their UK/International private banking operation before joining Cazenove Capital Management in June 2016. The firm rebranded to Schroders Wealth Management in September 2017.  In April 2020, Simon was appointed Strategic Advisor to Raffles Family Office where he is responsible for driving the firm’s strategic expansion and business development in Asia. Simon is a GlobalScot and co-founder of the Scottish Business Association of Singapore.

Before rejoining EFG as Senior Managing Director, North Asia Head, Kees was a Managing Director at Hubbis. Kees Stoute IBFA, ran Sonam, a private banking training and consultancy firm, since 2012, during which time he also authored the book ‘Help, I’m Rich’ (John Wiley & Sons). Prior to that, he was the managing director of EFG Bank in South-east Asia. Kees has a distinguished career spanning the academic, IT & operations and private banking sectors, and has more than 20 years’ experience in Asia, most of the time spent in Singapore. From 2000 onwards Kees was in charge of the Private Bank of MeesPierson in Asia. MeesPierson was part of the Fortis Group, which acquired London-headquartered Dryden Wealth Management in 2005, of which Kees became global CEO and Chairman. After the integration of Dryden into Fortis, Kees moved on to the position of Managing Director of EFG Bank Singapore, where he remained in charge until March 2012. He left EFG Bank to set up and develop Sonam BV. He subsequently joined Hubbis as Managing Director in 2015. An experienced private banker, Kees served at MeesPierson from 1992 to 1996 as its regional head of IT. In 1996, he was promoted to the position of chief operating officer of Fortis / MeesPierson in Singapore. In this position, he became a member of the regional management team of MeesPierson Private Banking. In April 2000, he moved on to become managing director of the business line private banking and trust in Asia for MeesPierson and in 2002, he was (in addition) promoted to managing director of the legal entity MeesPierson Asia Ltd in Singapore. In 2011 Kees became one of the first in Singapore to be certified by the regulator in Singapore (IBF) as Financial Industry Certified Professional (FICP – Role Model 6), now called IBFA. In the same year, he was also invited to participate in the Private Banking Industry Group, a consultative forum which was established by the Monetary Authority of Singapore (MAS) to further strengthen the competency and market conduct standards of the private banking industry in Singapore. In 2012, Kees became the inaugural winner of the Hubbis Recognition of Excellence in Asian Wealth Management Award. In September 2015, Kees was given a certificate to denote his status as an ‘IBF Advanced Fellow’ for 2015. 

Urs has been in the private banking industry for 34 years, and since 1986 in Asia. After expanding the private banking businesses of Credit Suisse, ABN AMRO and Clariden/Clariden Leu in Singapore and throughout Asia, he decided to go independent. In 2009, Urs founded HP Wealth Management Singapore Pte Ltd, with Michael Foo, the former Head of Clariden Leu's Portfolio Management unit, as the Chief Investment Officer. The company's focus is exclusively on looking after private clients, acting as an Independent Asset Manager. Over the years, the firm has added a well-developed Family Office capability, which includes expertise in Private Markets. Urs believes that an Independent Asset Manager can offer a client the best of both worlds: a custodian of choice coupled with truly independent investment advice. Urs is also a founding member of the Association of Independent Asset Managers (Singapore). Urs continues to believe that private banking is and remains a people's business and that the key aspect of building a successful business is the ability to listen to the client and to build strong relationships. Relationships last longer than products!

Bassam Salem has always been an entrepreneur at heart, in the way he ran large private banking businesses for 37 years, and in the way he is growing Obuhi, a social platform that connects freelance talent to those who seek them. Bassam retired as CEO of Citi Private Bank Asia to set up Obuhi whose mission is to help freelancers, contract or part-time workers find jobs that meet their needs for flexibility, freedom and higher incomes. Whether it is millennials for their next challenge, women seeking part-time assignments or the silver generation looking to stay employed, Obuhi will provide them a platform to showcase their skills and seek assignments. Obuhi will also, over time, provide them with tools to re-skill or up-skill to stay relevant to the needs of the market. Obuhi’s origins are firmly entrenched in the gig economy and it is to sharpen his skills that Bassam attended a course on Digital Strategy at Harvard Business School recently. Bassam believes his lasting contribution in the banking industry has been to find talent, train them and let them add value. It is this spirit that he carries over and is putting together a team of talented individuals who share his passion and vision and are working to grow Obuhi into one of the largest platforms of its kind globally.

Damian Hitchen, Chief Executive Officer, Swissquote Pte Ltd Damian joined in January 2014 to drive Swissquote’s expansion strategy from being Switzerland’s largest online banking and trading platform into the Middle East & Asia region. During 2014-2019 inclusive he built a successful B2c-B2b office from the DIFC, Dubai with a major focus on the development and upgrade of the Bank existing institutional platform services. In July 2019, he relocated from Dubai to head up Swissquote’s new office in Singapore, which will act as the regional booking centre for its business development in the Asia-Pacific region, with a focus on professional, industry and institutional clients such as external asset-managers, insurance firms, securities brokerages, family offices and local - regional Banks/Private Banks. Prior to joining Swissquote, Damian worked in a number of senior roles for HSBC in the Middle East region, and as an Executive r Director for Falcon Private Bank, the Abu Dhabi owned Swiss Private Bank.

Before rejoining EFG as Senior Managing Director, North Asia Head, Kees was a Managing Director at Hubbis. Kees Stoute IBFA, ran Sonam, a private banking training and consultancy firm, since 2012, during which time he also authored the book ‘Help, I’m Rich’ (John Wiley & Sons). Prior to that, he was the managing director of EFG Bank in South-east Asia. Kees has a distinguished career spanning the academic, IT & operations and private banking sectors, and has more than 20 years’ experience in Asia, most of the time spent in Singapore. From 2000 onwards Kees was in charge of the Private Bank of MeesPierson in Asia. MeesPierson was part of the Fortis Group, which acquired London-headquartered Dryden Wealth Management in 2005, of which Kees became global CEO and Chairman. After the integration of Dryden into Fortis, Kees moved on to the position of Managing Director of EFG Bank Singapore, where he remained in charge until March 2012. He left EFG Bank to set up and develop Sonam BV. He subsequently joined Hubbis as Managing Director in 2015. An experienced private banker, Kees served at MeesPierson from 1992 to 1996 as its regional head of IT. In 1996, he was promoted to the position of chief operating officer of Fortis / MeesPierson in Singapore. In this position, he became a member of the regional management team of MeesPierson Private Banking. In April 2000, he moved on to become managing director of the business line private banking and trust in Asia for MeesPierson and in 2002, he was (in addition) promoted to managing director of the legal entity MeesPierson Asia Ltd in Singapore. In 2011 Kees became one of the first in Singapore to be certified by the regulator in Singapore (IBF) as Financial Industry Certified Professional (FICP – Role Model 6), now called IBFA. In the same year, he was also invited to participate in the Private Banking Industry Group, a consultative forum which was established by the Monetary Authority of Singapore (MAS) to further strengthen the competency and market conduct standards of the private banking industry in Singapore. In 2012, Kees became the inaugural winner of the Hubbis Recognition of Excellence in Asian Wealth Management Award. In September 2015, Kees was given a certificate to denote his status as an ‘IBF Advanced Fellow’ for 2015. 

Bassam Salem has always been an entrepreneur at heart, in the way he ran large private banking businesses for 37 years, and in the way he is growing Obuhi, a social platform that connects freelance talent to those who seek them. Bassam retired as CEO of Citi Private Bank Asia to set up Obuhi whose mission is to help freelancers, contract or part-time workers find jobs that meet their needs for flexibility, freedom and higher incomes. Whether it is millennials for their next challenge, women seeking part-time assignments or the silver generation looking to stay employed, Obuhi will provide them a platform to showcase their skills and seek assignments. Obuhi will also, over time, provide them with tools to re-skill or up-skill to stay relevant to the needs of the market. Obuhi’s origins are firmly entrenched in the gig economy and it is to sharpen his skills that Bassam attended a course on Digital Strategy at Harvard Business School recently. Bassam believes his lasting contribution in the banking industry has been to find talent, train them and let them add value. It is this spirit that he carries over and is putting together a team of talented individuals who share his passion and vision and are working to grow Obuhi into one of the largest platforms of its kind globally.

Urs has been in the private banking industry for 34 years, and since 1986 in Asia. After expanding the private banking businesses of Credit Suisse, ABN AMRO and Clariden/Clariden Leu in Singapore and throughout Asia, he decided to go independent. In 2009, Urs founded HP Wealth Management Singapore Pte Ltd, with Michael Foo, the former Head of Clariden Leu's Portfolio Management unit, as the Chief Investment Officer. The company's focus is exclusively on looking after private clients, acting as an Independent Asset Manager. Over the years, the firm has added a well-developed Family Office capability, which includes expertise in Private Markets. Urs believes that an Independent Asset Manager can offer a client the best of both worlds: a custodian of choice coupled with truly independent investment advice. Urs is also a founding member of the Association of Independent Asset Managers (Singapore). Urs continues to believe that private banking is and remains a people's business and that the key aspect of building a successful business is the ability to listen to the client and to build strong relationships. Relationships last longer than products!

Damian Hitchen, Chief Executive Officer, Swissquote Pte Ltd Damian joined in January 2014 to drive Swissquote’s expansion strategy from being Switzerland’s largest online banking and trading platform into the Middle East & Asia region. During 2014-2019 inclusive he built a successful B2c-B2b office from the DIFC, Dubai with a major focus on the development and upgrade of the Bank existing institutional platform services. In July 2019, he relocated from Dubai to head up Swissquote’s new office in Singapore, which will act as the regional booking centre for its business development in the Asia-Pacific region, with a focus on professional, industry and institutional clients such as external asset-managers, insurance firms, securities brokerages, family offices and local - regional Banks/Private Banks. Prior to joining Swissquote, Damian worked in a number of senior roles for HSBC in the Middle East region, and as an Executive r Director for Falcon Private Bank, the Abu Dhabi owned Swiss Private Bank.

Having graduated in 1986 from Edinburgh University with an Honours Law Degree and Postgraduate Diploma in Legal Practice, Simon started his financial career with J.P Morgan / Saudi International Bank in London, New York and the Middle East specialising in corporate finance solutions for High Net Worth, Corporate and Family Office clients. In 1994, Simon moved to Clydesdale Bank PLC (then part of the National Australia Bank group) to build the Specialised Finance Unit before being asked (in 1999) to join the board of one of Scotland’s largest privately owned companies (Strathclyde Pharmaceuticals Limited) as Business Development Director. In 2006, upon the successful growth and sale of the principal parts of that business, Simon joined UBS AG in Scotland to drive forward its Scottish wealth management business. In 2008 Simon moved to Credit Suisse in Singapore to establish and develop their UK/International private banking operation before joining Cazenove Capital Management in June 2016. The firm rebranded to Schroders Wealth Management in September 2017.  In April 2020, Simon was appointed Strategic Advisor to Raffles Family Office where he is responsible for driving the firm’s strategic expansion and business development in Asia. Simon is a GlobalScot and co-founder of the Scottish Business Association of Singapore.

Michael has an extensive background in financial services in Asia, Europe and North America. He has been in Asia-Pacific since 1995 - first in Hong Kong for six years, then in Sydney and Singapore, returning to Hong Kong in 2007. Before setting up Hubbis in early 2009, Michael founded Pacific Prospect in 2002 and sold it to global business-to-business publisher Incisive Media in 2006, continuing to serve as Chief Executive Officer until October 2008. Prior to Pacific Prospect, Michael worked for nine years in financial markets publishing. He joined Euromoney Publications in 1993 as the publisher of a quarterly magazine, International Bond Investor. In 1995, Michael joined Thomson Financial Services to conceive and launch Finance Asia magazine. While he was Managing Director of Finance Asia, Michael also launched the Asian Debt Review, Asian Private Capital Magazine and started the Finance Asia Conference Business. In 1997, Michael founded FIA Limited. Born in North Wales, Michael was head boy of St David's College Llandudno. He has a degree in Business Administration from Cardiff University. He now lives in Ho Chi Minh City, Vietnam, and is married with three children - Reanna, Garett and Tarryn.