UOB beefs up HNW team with new hire for South-east Asia

UOB is bolstering its newly established private banking arm with its hire of Khoo Lin Wein as managing director and regional market head for South-east Asia.

He reports to UOB's head of private wealth Chew Mun Yew, who recently joined in December as part of the bank's reorganisation of its private bank arm across 3 regional markets - South-east Asia, Singapore and North Asia.

In his new role, Khoo will be responsible for expanding the bank's high-net-worth (HNW) client base across South-east Asia, as well as developing products and services to meet their needs, UOB said in a press statement on Monday (Dec 20).

Khoo has 25 years of private banking experience. Before UOB, he spent close to 5 years as the head of private banking for banks in Malaysia and Vietnam. He also held leadership roles at various international financial institutions in Singapore and across South-east Asia.

Chew said: "We continue to invest in our people and capabilities to advance our growth ambitions across Asia."

UOB announced in August that it will hire Chew as part of its growth plans to increase its HNW client base across Asia, which accounts for half of the bank's wealth management fee income.

Chew has more than 20 years of experience in the financial services industry in Asia in roles that covered strategy, risk management and wealth management. He was also a senior banking and insurance regulator for more than 5 years, UOB said.

As UOB's head of private wealth, Chew reports to Eddie Khoo, the head of UOB's group retail, the bank said at the time.

UOB plans to double its wealth management fee income in 5 years. Its wealth management assets under management stood at S$137 billion as at the first half of 2021.