VP Bank has appointed ex-Pictet executive Pamela Phua as the CEO of VP Bank Asia, effective 1 July 2021.

In her new role, Phua will manage the bank’s operations in both Singapore and Hong Kong. She will be located in Singapore.

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VP Bank CEO Paul Arni said: “I’m delighted to have Pamela on board. Under her leadership, we will jointly expand our activities in Asia. Our goal is to be an international Open Wealth Services pioneer, focusing on intermediaries and private clients.”

Phua, who began her career at BNP Paribas, was most recently head of Pictet’s Asia Family Office. She has also worked in private banking at Credit Suisse before joining Julius Baer, where she was in charge of Intermediaries Greater China.

Arni added: “Asia is one of the main focus areas in our Strategy 2026. Pamela is a widely recognised leader in the region, with an excellent track record in the family office and intermediaries’ space. She will also lead our strategic partnership with Hywin Wealth Management.”

Additionally, VP Bank has named Heline Lam as chief of staff at its Asian unit. She will assume her new role in May and report directly to Phua.

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The appointments come as Liechtenstein-based private lender looks to strengthen its competitive edge to seize opportunities in the Asian region.

In February this year, VP Bank appointed an insider Roger Barmettler as its new CFO and group executive management member.

Last December, the bank announced its decision to outsource portions of its IT services to an external service provider as part of its new IT strategy.