Chinatrust Commercial Bank officially launched its international private banking business in Hong Kong and Singapore yesterday, according to reports.

Within the last year CTCB has hired a slew of professionals to drive growth in the regions, said an article on website AsianInvestor.

These include Robert Russell, head of private banking at the Taiwanese firm, who started last April. Russell was previously been global head of private client solutions at Falcon Private Bank in Singapore and before that chief product officer at Credit Suisse Private Bank, in the same city.

Dennis Harhalakis started in January in Singapore as head of products. He was previously regional head of structured products and securities for Australia's ANZ Bank's retail and wealth business, also based in Singapore.

Michael Coglin joined in November as head of investments, having left hist post as Asia chief investment officer at Bank Sarasin in May. Rajagopal Govindarajoo started last June as head of operations and was previously Singapore branch manager at Falcon Private Bank.

In Hong Kong, Amanda Huang, Ringo Lau and Chinatrust veteran Phyllis Yang head the relationship manager teams. Huang will join in May from ABN Amro in Hong Kong, while Lau joined in November from BSI Investment Advisors in Hong Kong, where he was deputy managing director.

The company plans to hire another 20 staff across the two offices before the end of this year, said the report.

The bank aims to differentiate itself through its status as a home-grown Asian firm and its adoption of a fee-based model.