Deutsche Bank Hires Terence Leong as Group Head South East Asia Wealth Management, 3 HSBC Private Bankers
5th July 2021 | Singapore
Deutsche Private Bank with more than $280 billion assets, has hired HSBC Private Bank UHNW Market Lead Terence Leong as Deutsche Bank Southeast Asia Wealth Management Group Head, reporting to Shang-Wei Chow who is Deutsche Bank Head of Southeast Asia Wealth Management. Shang-Wei Chow also announced the hiring of 2 more HSBC Private Bankers, Derek Teo and Lynn Aw as Team Leader. (UHNW ~ Ultra High Net Worth)
“ Deutsche Bank Hires Terence Leong as Group Head South East Asia Wealth Management, 3 HSBC Private Bankers “
Terence Leong, Deutsche Bank Southeast Asia Wealth Management Group Head
Terence Leong joins from HSBC Private Bank, where he was the UHNW Market Lead and Desk Head of Greater China. He has over 15 years of experience including as Team Heads at UOB Private Bank and DBS Treasures Private Client. He was also the Managing Director, Ultra High Net Worth (UHNW) Market Lead for the Taiwan Market.
Private bankers typically manages $100 million to $300 million of assets, with the most senior and top private bankers managing assets of $300 million to $1 billion and top UHNW private bankers can manage book size of $500 million to $2 billion.
Deutsche Bank Head of Southeast Asia Wealth Management, Shang-Wei Chow:
“South East Asia is a growing region and the fundamentals underpinning wealth creation remain positive. We will continue to hire the best people in the industry to serve clients across the region, and to provide world class services to which the bank has committed.”
Shang-Wei Chow, Southeast Asia Leader
In July 2021, Shang-Wei Chow began his role as Head of Southeast Asia Wealth Management at Deutsche Bank to lead and grow Deutsche’s Bank Wealth Management and Private Banking business in Southeast Asia.
Shang-Wei Chow has also joined from HSBC Private bank, where he was HSBC Private Bank Singapore and Malaysia Market Head. Prior to joining HSBC Private Bank, he was with UBS for 13 years.
Deutsche Bank is Germany’s largest bank and one of the largest bank in Europe and the world. Deutsche Bank International Private Bank manages more than $281 billion of assets globally (June 2020).
Southeast Asia, $3.1 trillion GDP, 650 million
Southeast Asia has more than 650 million population and a combined GDP of more than $3.1 trillion. Southeast Asia is also home to one of the fastest growing billionaires, UHNWs & HNWs in Asia.
Largest Economy in Southeast Asia, Financial Centre:
- Indonesia: $1.11 trillion
- Thailand: $543 billion
- Philippines: $376 billion
- Singapore: $372 billion (Financial Centre)
- Malaysia: $364 billion
- Vietnam: $261 billion
- Hong Kong: $365 billion (Financial Centre)
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- 2020 List of International Private Banks in Hong Kong
- 2020 List of International Private Banks in Singapore
- 2020 Top 10 Largest Family Office in the World
- 2020 Top 10 Largest Multi-Family Offices in the World
About Deutsche Bank International Private Bank
Deutsche Bank’s Private Bank corporate division combines the private banking expertise of the market-leading Deutsche Bank and Postbank brands in Germany with the global network of the International Private Bank (IPB). This includes IPB’s global business with high net worth individuals and SMEs.
The Private Bank provides high-quality financial services from a single source. These range from comprehensive services for private customers and support for demanding entrepreneurs and their families, to solutions for SMEs in important Eurozone markets and India.
The Private Bank is one of the four pillars of Deutsche Bank, along with the Corporate Bank, Investment Bank and DWS, the institution’s asset management unit. Deutsche Bank is a leading bank in Germany with a global network and strong European roots.