Coutts Names CIO For Asia, Middle East In Yet Another High-Profile Hire

Tara Loader Wilkinson

21 May 2012

Coutts, the UK-headquartered private bank, just keeps on hiring. The firm has named industry veteran Gary Dugan, for the role of chief investment officer for Asia and the Middle East, as part of the bank’s ongoing build-up in the region.

Dugan’s appointment comes only days after the blue-blooded bank named Paul Sarosy as head of investment solutions, having previously been head of UK domestic clients at Credit Suisse. Dugan will join in July and be based at the Singapore offices of Coutts. His appointment comes on the heels of a number of recent hires in the division, including Ken Sue as head of products and services in Asia, who Gary will be working closely with. Dugan will report to Sarosy.

Dugan replaces Norman Villamin, formerly CIO for Coutts in Asia, who will, as previously announced, be relocating to Zurich and assume a new role as CIO for Europe. Alan Higgins will continue as CIO for Coutts in the UK, the Royal Bank of Scotland-owned wealth manager said in a statement.

Emirates NBD

At Emirates NBD, Dugan was previously CIO and also served as acting general manager at that firm, a role he started in 2009.

Before this he worked as managing director and CIO of Merrill Lynch Global Wealth Management for Europe, the Middle East and Africa in London, following a five-year tenure at Barclays in London as managing director and head of research and investment strategy for its wealth management business.

He has also held senior roles at JP Morgan Chase, where he spent 11 years working primarily as global strategist and head of global multi-asset portfolios Europe and Asia.

“We are expanding significantly in Asia and the Middle East and an appointment of Gary’s calibre reflects our ambitions for growth in the region,” said Gayle Schumacher, managing director, head of investment office at Coutts.