Maybank appoints Alice Tan as head of group wealth management

Maybank Singapore announced the appointment of Alice Tan Siew Hwee as head of group wealth management (GWM), effective 1 August 2024.

Tan will continue in her current role as the head of wealth management in Singapore. She will report to both the group CEO of community financial services, and CEO of Maybank Singapore.

Tan will lead Maybank's group wealth management business covering the privilege wealth, premier wealth, private wealth, and Islamic wealth segments in all the countries where the bank operates in these segments. She will set the overall strategic direction, and provide leadership and effective management of the business to achieve and outperform its financial and non-financial objectives. She will also be responsible for integrating Maybank Singapore’s regional strategy, creating and developing the bank’s wealth management business with regional/global privilege, premier, private, and Islamic wealth, and establishing and leading a global wealth management hub supporting product development and expertise for wealth management.

As she assumes the role, Tan's immediate key focus is to spearhead and drive the overall transformation and change management aspects, and to realise the new group wealth management agile organisation.

Tan is an accomplished professional with more than 27 years of extensive experience in the financial sector, of which more than 16 years were in private banking across all asset classes, with a strong knowledge of funds-related business. Her illustrious career began in 1997 with Overseas Union Bank, before moving to UOB Asset Management, and includes stints with Allianz Dresdner Asset Management, Societe Generale Asset Management, before the start of her private banking career as the head of investment consultants for South Asia with Coutts & Co. She then served as director, deputy head of client portfolio managers, Asia for Credit Suisse AG, before joining Maybank Singapore in 2014.

As one of the pioneers of the bank’s private wealth management business, and as head of investment consulting, Tan established the investment consulting function and implemented the investment advisory model in 2014. Under her leadership, the team made significant contributions to the overall private wealth fee income, resulting in the business breaking even within its first year of operations. She was appointed head of private wealth Singapore, where her strategies and leadership led to continuous growth over the last seven years, growing total revenue by 185% and increasing total financial assets by 150% to SGD 9.5 billion ($7.0 billion). Upon her appointment as head of wealth management in Singapore, Tan had oversight of the three wealth segments, and led these teams to achieve new heights within six months, with total revenue at SGD 176 million ($131.18 million), and growth of 64% YOY.

Re-disseminated by  Wealth and Society