SINGAPORE, 30 July 2024 — Maybank Singapore has announced the appointment of Alice Tan Siew Hwee as Head of Group Wealth Management (GWM), effective 1 August 2024. In her new role, Alice will oversee Maybank’s Group Wealth Management business, covering the Privilege Wealth, Premier Wealth, Private Wealth, and Islamic Wealth segments across all operating countries. She will continue to serve as the Head of Wealth Management, Singapore, and report to both the Group CEO of Community Financial Services and the CEO of Maybank Singapore.
As Head of GWM, Alice will set the strategic direction for the wealth management business, providing leadership to achieve and surpass financial and non-financial objectives. Her responsibilities include integrating Maybank Singapore’s regional strategy and developing the bank’s wealth management business with a focus on Regional/Global Privilege, Premier, Private, and Islamic Wealth. She will also establish and lead a Global Wealth Management hub to support product development and expertise in the wealth management sector.
Alice’s immediate priority will be to drive the transformation and change management initiatives to establish the new Group Wealth Management Agile organization.
Alice Tan brings over 27 years of extensive experience in the financial sector, with more than 16 years in private banking across all asset classes and a strong background in funds-related business. Her career began in 1997 with Overseas Union Bank, followed by positions at UOB Asset Management, Allianz Dresdner Asset Management, and Societe Generale Asset Management. She then moved into private banking, serving as Head of Investment Consultants for South Asia with Coutts & Co. and later as Director, Deputy Head of Client Portfolio Managers, Asia for Credit Suisse AG.
Joining Maybank Singapore in 2014, Alice was instrumental in establishing the bank’s Private Wealth Management business. As Head of Investment Consulting, she implemented the investment advisory model and significantly contributed to the Private Wealth fee income, leading to the business breaking even within its first year. Subsequently, as Head of Private Wealth Singapore, her strategic leadership resulted in continuous growth over seven years, increasing total revenue by 185% and total financial assets by 150% to SGD 9.5 billion. As Head of Wealth Management Singapore, she oversaw the three wealth segments, achieving new heights within six months, with total revenue reaching SGD 176 million and a 64% year-on-year growth.