Pictet Wealth Management appoints new chairman of Asia

Claude Haberer will become chairman of PWM Asia from October while Tee Fong-Seng will become CEO

Claude Haberer, equity partner of the Pictet Group and CEO of Pictet Wealth Management (PWM) Asia, has been appointed chairman of PWM Asia and will be succeeded as CEO by Tee Fong-Seng, with effect from October 2019.

Alex Ng will take over 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. Tee Fong-Seng will be joined in November 2019 by Alex Ng, along with a team of 18 professionals with Greater China expertise, who will be based in Hong Kong.

Haberer will become chairman of PWM Asia from October 2019 and will support Boris Collardi, the group’s managing partner responsible for PWM Asia.

As CEO of PWM Asia, Haberer has skillfully and successfully led the expansion of Pictet’s wealth management business since 2011. Tee Fong-Seng, his successor as CEO of PWM Asia, was most recently chairman of EFG Bank’s Asia Advisory Board.

Tee was previously vice chairman in Asia and CEO of the Hong Kong branch for Credit Suisse, among other senior positions. He has an in-depth knowledge of the wealth management business across Asia-Pacific. A Singapore national, he will be based in Singapore. Dominique Jooris, CEO of PWM South Asia and of Bank Pictet & Cie (Asia) in Singapore, will also report to Tee Fong-Seng.

Sharon Chou, currently CEO of PWM North Asia and of Pictet’s Branch in Hong Kong, has been instrumental in the growth of Pictet’s North Asian wealth management business. She will assume the position of deputy CEO of PWM Asia, reporting to Tee Fong-Seng.

With effect from November 2019, Tee will be joined by Alex Ng along with a team of 18 wealth management professionals with thorough knowledge of the Greater China markets, who will be based in Hong Kong.

Ng, previously Credit Suisse’s market head for China, will take over from Chou as CEO Hong Kong Branch and of PWM North Asia. Ng has 30 years’ experience in wealth management in the Greater China markets, first with Citi and UBS, then with Credit Suisse. He will be based in Hong Kong, reporting to Tee.

Across the region, Pictet Wealth Management employs more than 250 staff, both in Hong Kong and Singapore. Pictet has been present in Hong Kong since 1986 and was granted a banking licence for its wealth management services in 2012. In Singapore, it has been operating since 1995, securing a merchant banking licence in 2004 and a wholesale banking licence in 2018 under the name of Bank Pictet & Cie (Asia) Ltd.

These governance changes are announced subject to regulatory approvals.