HSBC veteran hired to head Singapore operations of China's CreditEase

FORMER HSBC banking veteran Kenneth Yeo has joined Chinese fintech CreditEase as chief executive officer of its wealth management arm in Singapore.

In a recent LinkedIn post, Mr Yeo said he will develop CreditEase's wealth business outside of China, subject to regulatory approvals.

This comes as the Beijing-based fintech "aims to become the top Chinese-based wealth management brand" for ultra and high net worth individuals and family offices around the world, said Mr Yeo in the post.

He noted that CreditEase Wealth Management will be able to leverage its parent company's "technical advantages" in the field of Big Data and artificial intelligence (AI), and independently develop its AI and fund of funds platform to make the investment process more efficient, comprehensive and accurate for clients.

Founded in 2006, CreditEase provides high net worth individuals with wealth management, investment and consulting services, covering cash management, fixed income, private equity, capital markets, real estate and insurance, among others.

Prior to joining the firm, Mr Yeo held senior roles at HSBC for nearly 15 years. He was most recently the bank's head of investment services and product solutions for South-east Asia from 2014 to June 2020.

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He has since been replaced by Jeffrey Yap, who moved from his previous role as regional head of fixed income, currencies and commodities for the Asia-Pacific.