Swiss wealth management group Julius Baer has hired Vincent Ming as its new Singapore-based deputy group head Greater China.

Ming will report to Chew Mun Yew, group head Greater China Singapore. He will be responsible for growing and strengthening the bank’s franchise in the Greater China market.

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Furthermore, Ming joins the bank with 15 years of experience in private banking as a senior manager covering the Greater China market. He was most recently market head of North Asia at UOB Private Bank, a role he held since 2017.

“We are very pleased to announce that Vincent is joining our team based in Singapore. Greater China is one of the fastest growing wealth creation markets. To support the growing needs of our clients in wealth management and planning, we will continue to attract top talents to further strengthen our Greater China franchise,” said David Shick, head of private banking Greater China, Bank Julius Baer.

Julius Baer reported record-high net profit driven by strong growth in assets under management (AuM) and notable improvement in cost efficiency in the first half of 2021.

The firm’s net income in the first six months of the year increased 23% to $658m (CHF606m) from $522m (CHF491m) a year ago.

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Net new money nearly doubled to CHF 9.9bn from CHF 5bn in H1 2020.

The group’s AuM stood at CHF 486bn, a jump of 12% since the end of 2020.

Julius Baer operating income was CHF1.9bn, an increase of 7.7% from CHF1.85bn reported year ago. Adjusted profit before taxes rose by 20% to CHF742m from CHF616 in the year ago half. Adjusted net profit for the group as well as adjusted net profit attributable to shareholders of the firm grew by 21% to CHF636m.