Nomura appoints HSBC's Philip Kunz to head Southeast Asia wealth business, memo shows
SINGAPORE, Aug 5 (Reuters) -Nomura Holdings 8604.T, Japan's largest brokerage and investment bank, has appointed Philip Kunz as managing director - senior adviser and group head for Southeast Asia for its wealth management business, according to an internal memo seen by Reuters on Monday.
Kunz was HSBC's head of global private banking for South and Southeast Asia until recently.
He will be based in Singapore and report to Anurag Mahesh, head of coverage for Southeast Asia, global South Asia and Middle East for Nomura's international wealth management business, the memo showed.
"He brings to Nomura decades of experience in building an extensive network of clients and talent across Southeast Asia," Mahesh said in the memo.
"In this role, he will monetise not only his client access but also build out deep talent in this region," he added.
A Nomura spokesperson confirmed the contents of the memo.
The appointment comes at a time when Singapore has benefitted from strong inflows of wealth into Asia due to its relative political stability, low taxes, and policies favourable for setting up family offices and trusts.
Reporting by Yantoultra Ngui; Editing by Sonia Cheema
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