People Digest: ex-Morgan Stanley CEO joins StashAway committee; Julius Baer appoints Taiwan head

A man uses his cell phone as he walks past a logo at the entrance of Swiss bank Julius Baer Group headquarters in Zurich October 6, 2008. REUTERS/Christian Hartmann

Sim Hwee Hoon, the former chief executive of Morgan Stanley in Singapore, has joined the StashAway Advisory Committee, while Julius Baer has hired former UBS executive Chew Mun-Yew to lead its Taiwan operations.

StashAway beefs up advisory committee

Digital wealth advisor StashAway has appointed Sim Hwee Hoon, a former CEO of Morgan Stanley Asia International in Singapore, to its advisory committee.

Sim earlier sat on the Board of Directors of Morgan Stanley Asia International, after spending 12 years with J.P. Morgan Private Bank Asia.

Singapore-based StashAway had recently secured a $2.15-million pre-Series A round. The latest investor in the company is the family of Singapore-based Francis Rozario, the founding chairman and CEO of Asia Capital and Advisors. The investment will see him join the firm’s board of directors.

Founded by Michele Ferrario, Freddy Lim, and Nino Ulsamer, StashAway positions itself as an alternative to traditional financial advisors. It operates on a monthly subscription, using a robot advisor to aid clients in making intelligent investments without the need for a consultant.

Julius Baer appoints Taiwan head

Swiss private bank Julius Baer has appointed Chew Mun-Yew as its new Taiwan head in a move to build out its Taiwanese business, the bank said in a statement. Mun-Yew joins from UBS, and will report to head of private banking for Greater China, David Shick.

Prior to his Taiwan role at UBS, Chew was head of risk across Southeast Asia and Asia Pacific from 2012. He has held roles at Carlyle Asia, DBS Group and American Express. Prior to his private sector career, he worked for the Monetary Authority of Singapore as a senior banking and insurance regulator for more than five years.

Julius Baer has hired aggressively over the last 18 months in Singapore and Hong Kong.

In July, Julius Baer appointed former UBS executive Nelson Ip to its Hong Kong team. Previously a director for products and services at UBS in Hong Kong, he also worked with ultra-high-net-worth clients for the Swiss banker. Before that, he was a vice president of investment products for three years at Bank Sarasin in Hong Kong.

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