Veteran private banker to chair EFG International's advisory board for Asia

Singapore

VETERAN private banker Tee Fong Seng is set to take over as chair of EFG International's advisory board for Asia, which will be set up later this month, the Zurich-based private bank announced on Monday.

It added that it will put up Mr Tee for election to its board of directors at its next annual general meeting in April.

The bank said in a statement: "With his experience as a senior executive in the private banking sector, Mr Tee will make a significant contribution towards further strengthening the bank's strategy and development, with a focus on Asia."

Mr Tee, 63, has some 40 years of international banking experience and has held several leadership roles in leading private banks such as UBS and Credit Suisse over the past two decades. Most recently, he was vice-chairman of private banking for the Asia-Pacific at Credit Suisse. Between 2013 and last year, he was chief executive of Credit Suisse's Hong Kong branch and head of the Greater China market; before that, he was head of market for South-east Asia. Before joining Credit Suisse, he held various management positions at UBS, including the role of deputy branch manager in Singapore from 2007 to 2009. From 2007 to 2013, he chaired the Wealth Management Steering Committee at the Institute of Banking and Finance Singapore (IBF).

Additionally, from 2008 to 2013, he was the chairman of the Private Banking Industry Group Competency and Manpower Committee, which introduced the Financial Industry Competency Standard in Singapore.

At EFG's new advisory board for Asia, he will be involved in providing guidance and expert advice, thus helping to promote an effective business growth strategy for the bank in Asia. EFG said Mr Tee would work closely with the board of directors and with regional management under the leadership of Albert Chiu, to support the expansion of EFG's business in Asia.

John Williamson, chairman of EFG International, said: "I am delighted that Fong Seng has agreed to stand for election to our board of directors and to chair separately our new advisory board for Asia. He brings with him extensive experience in the Asian private banking industry, and his nomination underscores the importance of the Asia region for our bank."