EFG Singapore's leader has stepped down from his role after four years at the bank, to be replaced by the former head of Bank of America Merrill Lynch's Southeast Asia advisory division.

The head of EFG's Singapore private banking business is set to leave his role after four years at the bank, to be replaced by the one-time head of Bank of America Merrill Lynch's Southeast Asia advisory division, WealthBriefingAsia can exclusively reveal. 

Kees Stoute is said to be leaving Singapore to return to his home country of Holland where he will pursue other opportunities, said a source with knowledge of the situation. EFG declined to comment. 

He will be replaced by Eng Huat Kong, most recently a managing director and Southeast Asia advisory head of the Singapore-based unit of Bank of America Merrill Lynch, subject to regulatory approval. Stoute remains at EFG for the time being, in the process of handing over to Kong. 

BoA Merrill confirmed Kong's departure and said he had left some time ago. His responsibilities have since been taken on by Hans Diederden, who joined from ABN AMRO last July.

In 2007, Stoute was appointed managing director of EFG Singapore, the Singapore division of the Swiss private banking subsidiary of Swiss lender EFG International. 

Stoute has been based in Asia for more than 16 years, most of the time in Singapore. He served at MeesPierson from 1992 to 2002 when he was promoted to managing director of MeesPierson Asia in Singapore. Following that he was a member of the Fortis Asia bank management council. When Fortis acquired the London-headquartered Dryden Wealth Management in 2005, Kees was appointed chief executive officer and chairman with the mandate to integrate the firm with Fortis. 

Neither Stoute nor Kong could be reached for comment.