Director Of Private Bank Distribution Departs Schroders In Singapore
The director of private bank distribution is leaving the firm, which is now seeking a replacement.
Schroders, the UK-listed asset management and private banking house, has confirmed the departure of a senior Singapore-based manager.
Gerald Koh, director of private bank distribution in Singapore, will leave the firm in March and the firm is seeking a replacement, Schroders told this publication in an emailed statement. It gave no other details.
Among other recent developments, last year Schroder Investment Management (Hong Kong) partnered with its mainland China joint venture, Bank of Communications Schroder Fund Management Co, to take advantage of the newly-launched Mutual Recognition of Funds regime between China and Hong Kong.
Last November, the firm said assets under management fell 5 per cent to £294.8 billion ($449.5 billion) over the three months to the end of September, compared to the previous quarter, amid weak investment performance. Investments suffered a £14.6 billion loss over the quarter while net outflows totalled £500 million. Still, Schroders pushed its pre-tax profit up 18 per cent year-on-year to £148.6 million as net revenue grew from £393.6 million to £395.3 million.