Pictet is hiring a team of private bankers from rival Julius Baer, finews.asia can reveal. The move represents Pictet's first poaching in the region since Boris Collardi joined.
Swiss-based Pictet is hiring Pamela Hsu Phua, a source told finews.asia. She is being hired as head of Pictet's new family office unit and will report to Asia head Claude Haberer, the person said. Phua is currently a managing director in Hong Kong at Julius Baer, where she is head of intermediaries. A spokesman for Pictet confirmed the information.
Phua is the first Julius Baer banker to jump to Pictet in Asia. The Genevan wealth manager has made no secret of its ambition to grow in the region. Pictet moved aggressively in other regions such as the Middle East, where it grabbed an 18-strong team from Julius Baer in December. Earlier this year, it doubled down by poaching a team of Julius Baer Latin America bankers.
Next Growth Phase
The hire of the team under Phua sets the stage for Pictet's next phase of wealth management growth in Asia by focusing on wealthy families. Former Julius Baer CEO Boris Collardi joined Swiss private bank Pictet as a partner in 2018. Last year, Pictet shuttered its business with external asset managers in the region.
Phua has 20 years of finance experience, mainly in private banking. She has worked in London, Zurich, Singapore, and Hong Kong for Julius Baer, Credit Suisse, and BNP Paribas.
