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The Bank’s Vice President appoints new appointees in Asia

In addition to her current role as Asia CEO, Pamela Phua (in the photo) will take on a dual role as head of the Singapore branch, while Johnny Heng will step down to pursue other opportunities.

Michel Hofstetter, currently Head of Intermediaries, will become Head of Intermediaries in Singapore, reporting directly to Phua. Hofstetter is an industry veteran with over two decades of experience working with intermediaries and joined VP Bank in 2022.

In his new role, he will focus on further development of the bank’s intermediaries and increasing the portfolio’s share in the market.

The Bank’s vice president also appointed Heng Yeow Kwang as head of private banking in Singapore from June 2024. Heng has over 30 years of experience in wealth management and will report directly to Phua. In his position, he will be responsible for expanding VP Bank’s presence among private clients in Asia.

“This appointment also reflects VP Bank’s continued commitment to private banking activities, which are a major complement to the intermediary business,” the bank said in a statement.

Heng was most recently market director for Indonesia, the Philippines and Japan at UOB Private Bank, and has also worked at Bank of Singapore, Credit Suisse, Deutsche Bank and Nomura Securities.

“These new roles and responsibilities will play a key role in increasing our competitiveness and differentiation in this dynamic industry,” Phua said.