The senior hire previously worked at Credit Suisse.

Bank of Singapore has appointed former Credit Suisse senior figure Kelvin Teo as head of bespoke investments for Greater China and North Asia.

Teo will explore opportunities for UHNW clients, such as direct investments in regional “unicorns” (a privately held startup company valued at over $1 billion), and related areas, and solutions in areas such as buyout funds and property-linked financial instruments, the bank said. 

In BoS’s case, an ultra-wealthy client is defined as someone with at least $30 million of investable assets.

Based in Hong Kong, Teo reports locally to Derrick Tan, chief executive of Bank of Singapore’s Hong Kong Branch and global market head for Greater China and North Asia, and functionally to Carolyn Tham, global head of UHNW Bespoke Investments. Tham is based in Singapore.

“We have seen an increase in demand for sophisticated product offerings and financial solutions among ultra-high net worth clients. To serve this demand, we are dedicated to growing a strong team to provide tailor-made wealth management solutions to match our clients’ sophisticated level of investment needs,” Tan said.

Among recent hires, BoS appointed Richard Hu, market head for Greater China. Last year, there were three senior hires - market heads Phonda Chan and Anne Song, and head of risk, Jacqueline Lee – all of whom have extensive banking experience in the region.

As of 30 June, Bank of Singapore’s assets under management were $111 billion, 9 per cent higher than a year ago.