Singapore Private Wealth Group WRISE Hires Bank of Singapore Kevin Teng as CEO of WRISE WM Singapore, Appoints Joel Tan & Megan Zhang as Co-Chief Executives of WRISE WM Hong Kong, Target $5 Billion AUM by End of 2023
7th July 2023 | Hong Kong
Singapore private wealth group WRISE has hired Bank of Singapore (Private Bank) Kevin Teng as CEO of WRISE WM Singapore, and appointed Joel Tan & Megan Zhang as Co-Chief Executives of WRISE WM Hong Kong, including setting a target of $5 Billion AUM by end of 2023 (Assets under Management). WRISE also announced the launch of 2 new businesses: 1) WeWrise, a comprehensive corporate services organisation, and 2) Voo Technologies (VooTech), a subsidiary wealthtech solutions provider of modular digital services from WRISE on a B2B software-as-a-service (SaaS) model. WRISE – This business expansion will allow the WRISE Group to broaden its scope of professional and digital service offerings supported by experienced senior leaders, leading to better tailoring of solutions to meet the wealth management demands of more UHNWIs and family offices. Derrick Tan, Chairman of WRISE Group: “WRISE’s strategic new hires and astute alignment with market movements remain part of our impending success in hitting our year end target for an AUM of US$5 billion. I am confident that technical and enhanced professional expertise from our senior leaders will lead our exceptional team to drive continued growth of WRISE’s business and assets.” WRISE Group was founded by Chairman Derrick Tan in 2022, after more than 11 years at OCBC Group private banking subsidiary – Bank of Singapore (as Global Market Head, Greater China). Before Bank of Singapore, Derrick Tan was with UBS & HSBC. See below more WRISE Group announcement.
“ Singapore-Based Private Wealth Group WRISE Hires Bank of Singapore Kevin Teng as CEO of WRISE WM Singapore, Appoints Joel Tan & Megan Zhang as Co-Chief Executives of WRISE WM Hong Kong, Target $5 Billion AUM by End of 2023 “
Singapore Private Wealth Group WRISE Hires Bank of Singapore Kevin Teng as CEO of WRISE WM Singapore, Appoints Joel Tan & Megan Zhang as Co-Chief Executives of WRISE WM Hong Kong, Target $5 Billion AUM by End of 2023
WRISE Group Announcement:
Serving needs across the region – Moving forward, WRISE will continue to establish offices in financial centres globally as opportunities arise. Its growth strategy remains affixed on building presence in major financial centres, to create a net of synergies that are key to its continuity and growth. Besides WeWrise and VooTech, WRISE has also established its first overseas office in Hong Kong earlier this year, focusing on the wealth management needs of Hong Kong’s UHNWIs, family offices, and clients across Greater China.
Appointment of Kevin Teng as the new CEO of WRISE WM Singapore
WRISE has appointed Kevin Teng as CEO of WRISE WM Singapore, effective 3 July 2023. Kevin brings over 20 years of experience in wealth management industry. He assumes CEO responsibilities from Derrick Tan, Chairman of WRISE Group, who is now focusing on the strategic initiatives, growth and leadership of the Group’s businesses.
Kevin Teng, CEO, WRISE WM Singapore: “I am privileged to join WRISE at such an exciting time. Asia-Pacific is set to become the largest wealth hub by 2026, and more UHNWIs are looking to simplify their wealth management and transfer processes. WRISE’s expanded offerings fill a crucial gap in meeting the industry’s evolving needs. As the convergence of traditional and digital wealth management continues to create new possibilities in financial and investment services, I am delighted to be in a position to leverage such emergent capabilities for the success of our clients and partners.”
Appointment of Joel Tan and Megan Zhang as Co-Chief Executives of WRISE WM Hong Kong
WRISE has also appointed Joel Tan and Megan Zhang as Co-Chief Executives (CE) of WRISE WM Hong Kong, effective 3 July 2023. Collectively, both CEs bring over 24 years of experience in wealth management industry. Under the leadership of Derrick Tan, Chairman of WRISE Group and Marcus Wong, Vice Chairman, WRISE WM HK, Joel will head the strategic initiatives for Hong Kong market and Megan will focus on serving clients in the China market.
Derrick Tan Chairman WRISE Wealth Management (Hong Kong)
Derrick has over 23 years of banking experience. Before WRISE, he was Bank of Singapore’s Hong Kong Chief Executive and Global Market Head of Greater China and North Asia. He was also Chairman of the Bank’s Hong Kong Management Committee. He managed over USD47 billion of Assets under Management and successfully drove business expansion in the Greater China market. Before that, he was the Global Market Head for Japan, Sub-Continent, and Malaysia where he was instrumental in establishing the Bank’s market-leading position in the Middle East region, which culminated in the setting up of the Bank’s branch in the Dubai International Financial Centre (DIFC) and was the Responsible Officer of the branch registered with Dubai Financial Services Authority (DFSA). Prior to joining Bank of Singapore, Derrick held various senior positions in financial institutions such as Executive Director and Desk Head of the Indonesia market at UBS AG and responsible for HSBC’s offshore International Banking Centre. Derrick holds a Bachelor’s Degree in Banking and Finance with full distinctions from the Curtin University of Technology. He is on the Vice Chancellor’s List and is also a recipient of the Golden Key Award and Curtin International Student Scholarship. He also graduated from the Harvard Business School Advanced Management Programme in 2013.
Kevin Teng, Chief Executive Officer of WRISE Wealth Management Singapore
With a wealth of expertise spanning over two decades in investment and wealth management, Kevin has established himself as a prominent figure in the industry. Before joining WRISE, he was the Managing Director and Team Head of the Greater China market for Bank of Singapore, where he effectively led a team of 20 Client Advisors and Assistant Client Advisors. Prior to joining Bank of Singapore, Kevin held a variety of executive positions, including Executive Director in Private Wealth Management at Morgan Stanley, Standard Chartered Private Bank, OCBC Private Bank, and Citibank International Personal Bank. Kevin holds a Bachelor’s Degree in Business Administration from Baylor University, USA.
Megan Zhang, Chief Executive of WRISE Wealth Management, Hong Kong
Megan has over 12 years of experience in the wealth management industry. Before joining WRISE Wealth Management Hong Kong, she was a Director at Bank Julius Baer and Bank of Singapore. She forged deep connections with her UHNW clients during her career with these two major banks and helped deliver on her clients’ wealth visions. Megan holds a master’s degree in Business Administration from the New York Institute of Technology (NYIT).
Joel Tan, Chief Executive of WRISE Wealth Management Hong Kong
Joel has more than 16 years of experience in the wealth management industry in Singapore, Hong Kong and China with a proven track record of success in developing strategic initiatives, business development and managing risk control. Prior to joining WRISE, he was the Head of Private Wealth at Safari Asia Limited, a Hong Kong-based external asset management (EAM) firm where he devised strategic plans for the firm and actively promoted the concept of EAM in Hong Kong. A strong believer in cultivating long-term relationships, he emphasises on having his team to follow the best practice and industry regulatory standards, ensuring that clients receive the highest level of service. Before Safari Asia Limited, he held a number of senior positions at various firms such as China Zhong Heng Finance Group, Standard Chartered Bank (SCB), Hanvos Group, and HSBC where he obtained internal awards such as Top RM and Top Bancassurance at HSBC in 2008 and 2009, Hanvos Group Chairman Special Award in 2014, 2015 and 2017, and Top Revenue and Top Treasury Revenue at SCB in 2018 and 2019. Joel holds a Master’s degree in Business Administration from University of Management and Technology. He is a committee member of Zhejiang Merchant Association.
WRISE 2 New Businesses:
WeWrise: Comprehensive consulting and advisory services for financial management WeWrise serves as the foundation for WRISE clients, providing essential services for UHNWIs looking to first structure their wealth. Managed by executive members experienced in both onshore and offshore fund structures, the new business unit will help clients to establish a solid financial framework, using their expertise in fund design, investment management, risk management, and compliance under financial licenses for a vast client base that spans diverse industries. WeWrise is currently represented in Hong Kong, Shanghai, and Singapore, with financial licences in key markets such as Hong Kong, Cayman Islands, and the British Virgin Islands.
VooTech: B2B wealthtech solutions provider
VooTech is a wealthtech subsidiary of WRISE, complementing the Group’s comprehensive wealth management offerings with modular digital services from WRISE such as asset aggregation, analytics and reporting and price aggregation tool. VooTech is backed by an experienced team of IT and financial services professionals, to both support WRISE’s digital requirements and specialised digital services demanded by External Asset Managers (EAMs), family offices, trust companies, and fintech firms.
About WRISE
WRISE is a wealth enterprise that provides innovative client-centred solutions to make it easy for UHNWIs to grow their wealth and live their dreams. Its proprietary and cutting-edge digital platform, TREX, gives clients complete control and transparency over their total wealth. From intelligent portfolio management, wealth planning and expert, unbiased advice, to trust and corporate services, all the integral tools are available in one place for easy access, anytime and anywhere. Clients are assured of a frictionless route to unbiased, trusted investment advice and market insights across a broad spectrum of asset classes. WRISE Group of Companies include WRISE Wealth Management (Singapore), WeWrise Services, and Voo Technologies and affiliated companies WRISE Wealth Management (Hong Kong), WRISE Wealth Management (Middle East).
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