Deutsche Private Bank Hires Faye Lee as Managing Director of Southeast Asia Team
15th October 2021 | Hong Kong
Deutsche Private Bank has hired Faye Lee as Deutsche Bank Wealth Management Managing Director of Southeast Asia Team, led by Southeast Asia Leader Shang-Wei Chow. Faye Lee, who has over 17 years of wealth management experience and joining from Bank of Singapore, will focus on expanding the Ultra High Net Worth segment, targeting entrepreneurs and business owners & families in the region. Based in Singapore, Faye will report to Deutsche Bank Wealth Management Group Head of South-East Asia Terence Leong.
“ Deutsche Private Bank Hires Faye Lee as Managing Director of Southeast Asia Team “
Faye Lee, Managing Director of Southeast Asia Team
Faye Lee has over 17 years of wealth management experience, and joins from Bank of Singapore where she was Managing Director. Prior to Bank of Singapore, Faye was with ING Asia Private Bank, which was acquired in 2009 by OCBC Bank from ING Group. She was previously a Relationship Manager at Citibank and had worked at HSBC in Shanghai.
Deutsche Bank Wealth Management Southeast Asia Leader Shang-Wei Chow:
“Faye is an experienced RM with deep connections across the region. We are focused on strengthening our growth in the region to support clients’ needs, and we will keep investing in the best talent.
The positive momentum in our business will continue, as we carry on to expand our footprint across South East Asia.”
Shang-Wei Chow, Southeast Asia Leader
Deutsche Private Bank has been on a hiring leadership hiring drive in 2021, including the hiring of HSBC Private Bank UHNW Market Lead & Desk Head of Greater China Terence Leong as Deutsche Bank Wealth Management Group Head of Southeast-Asia and Credit Suisse Urs Brudermann as Group Head of Southeast Asia.
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.
In 2021 Q2, Deutsche’s Private Bank delivered strong performance with $16.5 billion (€14 billion) net inflows, generating revenue of €820 million, an increase of 9% from 2020 Q2 due to business growth in recovering markets. Private Banking and Wealth Management (WM) revenues were up 8% to €607 million, while Personal Banking revenues were up 14% to €213 million. (Adjusted for FX and specific items, Private Banking and WM revenues were up 10%)
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)
- Deutsche Private Bank Hires Private Banking Veteran Shankar Jha as Group Head of Global South Asia Team, Sachin Thussu as Investment Advisor
- Deutsche Private Bank Hires Divik Maheshwari as Senior FX Advisor & Team Lead of FX Advisory Southeast Asia
- Deutsche Private Bank Hires Former Credit Suisse Alania Concepcion as Team Head of Investment Management Southeast Asia
- Deutsche Private Bank Hires Dominique Jooris as Head of Wealth Solutions APAC, Advise Family Offices, Billionaires & UHNWs
- Deutsche Private Bank Hires Credit Suisse Urs Brudermann as Group Head of Southeast Asia, 2 Senior Private Bankers Shawn Ngoh & Pichaya Prawanmeet
- Deutsche Bank Reports Q2 $1.42 Billion Profit, $40 Billion Net Asset Inflow from Private Banking & Asset Management
- Deutsche Bank Hires Terence Leong as Group Head South East Asia Wealth Management, 3 HSBC Private Bankers
- Deutsche Private Bank Launches 4 Funds with Regular Income Using ETFs, AUM at $4.1 Billion
- Deutsche Bank Launches ESG Centre of Excellence in Singapore
- Deutsche Bank Survey: 75% of Private Bank Clients View Investments Should Have Positive Impact to the World
- Malaysia Sues JP Morgan, Deutsche and Coutts for $2.93 Billion, Receives $452 Million from United States
- Deutsche Bank to Create $281 Billion International Private Bank
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.