Clariden Leu Appoints New Co-Heads for North Asia

Clariden Leu, one of Switzerland's leading private banks, has appointed Raymond Chung and David Louie as new Co-Heads of North Asia.


The Swiss private bank Clariden Leu is further strengthening its position in the Asian market with the appointment of Raymond Chung and David Louie as Co-Heads of North Asia, both effective November 2, 2009. "The new executives are very well acquainted with the North Asian market and have more than 20 years of experience in the wealth management industry," says Erich Pfister, Head of the Middle East & Asia Division. "Together with the Head Asia, Jimmy Lee, and the recently appointed Chairman Asia, Kenneth Toong, they will consistently drive forward the implementation of Clariden Leu's growth strategy in North Asia."

Raymond Chung worked for 16 years as Managing Director Private Wealth Management at Deutsche Bank and Bankers Trust Company in Hong Kong. In this role he managed a team of more than 20 private bankers. Prior to that, he held senior management positions at Standard Chartered Bank in Hong Kong.

David Louie spent 15 years as Managing Director Private Wealth Management at Deutsche Bank in Hong Kong, where he led a team of 40 private bankers. He also held senior management positions at Chase Manhattan and Republic National Bank of New York in Hong Kong. Prior to this he worked at Bankers Trust Company and Citibank International in Hong Kong and Los Angeles.

Another delay to Yanyong's appointment

       The prime minister has put the Commerce Ministry's proposed appointment of Yanyong Puangrat as the permanent secretary on hold for another week.
       Abhisit Vejjajiva yesterday told the weekly cabinet meeting the nomination of Mr Yanyong, director-general of the Internal Trade Department, was being delayed for another week so he could have a "face-to-face" meeting with the man first.
       The proposed appointment was put on hold yesterday for a third week.
       "There are still many government policies that I want to make him understand, especially the promotion of the agricultural production policy," he said.
       Mr Abhisit has asked Commerce Minister Porntiva Nakasai to invite Mr Yanyong for a meeting at Government House.
       Never before has a Thai prime minister summoned a candidate for the post of permanent secretary to discuss his vision.
       Mr Yanyong, who has three years before mandatory retirement in 2012,is said to be at odds with Mr Abhisit over the crop pricing policy.
       Mr Yanyong's involvement in the Commerce Ministry's investigation of Kularb Kaew, a company accused of being a nominee for Singapore's Temasek Holdings, which now owns former prime minister Thaksin Shinawatra's Shin Corp, could have caused the Democrat Party to have second thoughts over the nomination.
       However, the prime minister insisted yesterday the postponement was neither being made due to political or personal reasons.
       Apart from the sale of agricultural produce, especially corn and tapioca,he said he wanted Mr Yanyong to pay attention to a policy that would guarantee higher income for farmers.
       Mrs Porntiva said after the cabinet meeting she and Mr Yanyong would meet Mr Abhisit today.
       The cabinet approved the other proposed appointments involving key positions at other ministries.
       The Transport Ministry saw Supoj Saplom, its Highways Department chief, promoted to the post of new permanent secretary.
       Deputy public health permanent secretary Paijit Warachit was named the new permanent secretary for pu-
       lic health.
       Dr Paijit, who is responsible for the fight against bird flu and the type-A (H1N1) flu, was considered a dark horse.
       It is believed his clean record helped him beat Medical Services Department director-general Raywat Wisrutvej, Medical Sciences Department chief Manit Teeratantikanon and the most senior deputy permanent secretary, Chaktham Dhammajak, to the top job.
       The Interior Ministry's Pairat Sakolphan, director-general of the Community Development Department,was promoted to head the Local Administration Promotion Department.
       The ministry also saw the reshuffle of governors in several southern and central provinces.
       Surat Thani governor Pracha Terat was made an inspector-general and replaced by his deputy, Damri Boonjing.
       Yala governor Thira Mintarasak was named Nakhon Si Thammarat governor, and Narathiwat governor Winai Kharuwannapat was appointed the new Phatthalung governor.