October 18, 2016 | Grand Hyatt, Hong Kong
RM NEXUS: HNW INSURANCE
Lead Partner Survey PartnerConversation Partner Networking Partner Co�ee Partner
ADVISORY COUNCIL
Adeline PoonSenior Vice President, Head of Fiduciary Services, DBS
Angel WuRegional Head of Products & Solutions Asia & Middle East, ABN AMRO
Alexander TanExecutive Director, Wealth Planning Life Insurance and Financial Planning, APAC, UBS Wealth Management
Berry WongRegional Head of Wealth Planning Services, Asia, BNP Paribas
Cherry TamHead of Wealth Structuring and Estate Planning, Hong Kong, ABN AMRO Private Banking
Christopher MarquisManaging Director, Global Head, Private Wealth Solutions, HSBC Private Bank
Don LaiHead of Wealth Planning, Hong Kong, DBS
Fan ChoiHead of Wealth Planning, Union Bancaire Privee
Gerald PasquierDirector, Clients & Products Tax APAC, Wealth Planning, UBS Wealth Management
Jim ManDirector, Insurance Product management, APAC, Credit Suisse
Joanna HoHead of Wealth Planning, North Asia, Private Wealth Solutions, HSBC Private Bank
Jonathan HubbardManaging Director, Head of Wealth Planning, APAC, UBS Wealth Management
Lee Woon ShiuManaging Director, Head of Wealth Planning, Trust and Insurance, Bank of Singapore
Mark SmallwoodManaging Director, Deutsche Bank Wealth Management Asia
Owen YoungManaging Director and Global Head of Bancassurance, Wealth Management, Standard Charted Private Bank
Peter TriggsManaging Director, Head of International Clients and Wealth Structuring, DBS
Sheau Yeun TanHead of Wealth Planning, Deutsche Bank Private Wealth Management Asia
Registration and Co�ee11:15am – 12:00pm
Gala Luncheon12:00pm – 1:00pm
Opening speech
Highlight from the HNW Insurance Report
1:00pm – 1:10pm
Leaders Conversation Panel 1
The twilight years for private banking secrecy? CRS and its impact on Asia’s private banking industry
The onset of the Common Reporting Standard (CRS) regime poses a number of challenges for private banks that have traditionally plied their trade with a high degree of discretion. While ‘early adopter’ jurisdictions will conduct their first exchanges of information in late-2017, Hong Kong and Singapore will likely conduct theirs in 2018. But are Asia’s private banks and their relationship managers (RMs) adequately prepared for the advent of full disclosure? What operational challenges does CRS pose and what do RMs need to do to ensure that they are meeting clients’ needs when the regime comes into force?
Moderator:
Sebastian Enberg, Editor, Asian Private Banker
Conversation catalysts:
Anthony Fay, Counsel – Tax, Cli�ord Chance
David Sussman, Managing Director, EFG Wealth Solutions
Joanna Ho, Managing Director, Head of Wealth Planning North Asia, Private Wealth Solutions, HSBC Private Bank
1:15pm – 2:05pm
PROGRAMME
Workshop Discussion
Perpetual Life
The HNW insurance market is dominated by universal life (UL) insurance and recent data shows that this trend will not be bucked any time soon. Although UL has played, and will continue to play, a pivotal industry role, certain segments of the HNW population have yearned for other solutions; it has become clear that there are product gaps that need filling. Chubb Life delves into the world of Perpetual Life and explores its application to the a�uent.
Workshop hosts:
Brandon Szeto, Deputy General Manager & Vice President, APAC Wealth Management, Chubb Life
Ben Ng, Chief Marketing O�cer and Committee Member, Chubb Life HK
2:10pm – 2:50pm
Workshop Discussion
Overview of HNW insurance buying behaviors of clients from the PRC
Although it’s well known that wealthy Mainland consumers are the growth engine of HNW insurance business in recent years, the background of these insurance buyers is more obscure. What drives their interest for insurance solutions? What is the psychology behind their purchasing behaviours? BOC Group Life Assurance shares its insights on the Chinese demand for HNW insurance solutions.
Workshop hosts:
Alfred Cheung Chi Kau, Chief Sales O�cer & Deputy Chief Executive, BOC Group Life Assurance Company Ltd
Ady Law, Head of Corporate Distribution Department, BOC Group Life Assurance Company Ltd
2:50pm – 3:30pm
Networking4:10pm – 5:00pm
Leaders Conversation Panel 2
When stars align: HNWI insurance in the context of Asian private banking
Over the next decade, upwards of US$1 trillion of Asia’s wealth will be passed on to the next generation. Factor in challenging market conditions – what many are referring to as the ‘new normal’ – and it is clear that wealth management planning teams are more crucial than ever to private banks that harbour long-term ambitions in the region. Insurance solutions will be key to addressing clients’ growing needs for protection and succession planning, as well as to private banks whose revenue streams have all but dried up.
Moderator:
Sebastian Enberg, Editor, Asian Private Banker
Conversation catalysts:
Alexandar Tan, Executive Director, Wealth Planning Life Insurance & Financial Planning, APAC, UBS Wealth Management
Ben Ng, Chief Marketing O�cer and Committee Member, Chubb Life HK
Jim Man, Director, Insurance Product Management, APAC, Credit Suisse
3:30pm – 4:10pm
MODERATOR
Sebastian EnbergEditor Asian Private Banker
Sebastian is the Editor of Asian Private Banker. His background is in international politics, and Chinese foreign policy and security.
Sebastian graduated from Victoria University of Wellington with a Master of Strategic Studies majoring in Strategic Intelligence, and more recently, from the City University of Hong Kong with a Master of Arts. In 2012, Sebastian was awarded the university’s Top Scholar Prize for his cohort.
CONVERSATION CATALYSTS
Ady Law is the Head of Corporate Distribution Department of BOC Group Life Assurance Company Limited (BOC Life) responsible for the business strategy of brokers and group business. She provides direction, guidance and input to the company on development of long-term strategy, product management, performance standards and operational e�ectiveness to sustain growth opportunities. Prior to assuming this role, she was at Convoy Financial Services Limited for 4 years and was responsible to develop business strategy.
Ady began her professional career in 1998 and has worked in a number of positions within the insurance industry, in both banking, broker and insurance companies.
Ady LawHead of Corporate Distribution DepartmentBOC Group Life Assurance Company Limited
Alexander Tan is Executive Director Wealth Planning APAC, at UBS Wealth Management.
Alexander joined UBS in 2012 and spent the next 3 years responsible for the growth of the Life Insurance o�ering in Hong Kong. In 2015 he was appointed to lead Wealth Planning Life Insurance for UBS Hong Kong and Singapore, as well as the new launched Financial Planning advisory o�ering for HNW clients in both locations. Prior to UBS he has held key management positions in life insurance companies in Singapore that provided life insurance protection solutions to UHNW, HNW individuals and corporate clients.
Alexandar TanExecutive DirectorWealth Planning Life Insurance & Financial Planning, APACUBS Wealth Management
Alfred Cheung is the Deputy Chief Executive and Chief Sales O�cer of BOC Group Life Assurance Company Limited (BOC Life) responsible for the overall strategy of both sales and marketing of the Company. He oversees the Company’s multi-channel distribution including bancassurance, tied-agency, brokerage and telemarketing channel, in addition to setting the product development and marketing strategy of BOC Life.
Alfred Cheung joined BOCG Life in 2008 as Chief Actuary. Prior to BOC Life, he has worked in ING (currently known as FWD) Hong Kong o�ce for over 10 years in Actuarial Department and Customer Services Department.
He is currently a working group member of both the Actuarial Society of Hong Kong (ASHK) and the Hong Kong Federation of Insurers (HKFI). He is also a member of the Honorary Advisory Board of the Department of Statistics and Actuarial Science of University of Hong Kong (HKU).
Alfred Cheung Chi Kau Chief Sales O�cer & Deputy Chief ExecutiveBOC Group Life Assurance Company Ltd
Brandon SzetoDeputy General Manager & Vice President, APAC Wealth Management, Chubb Life
Brandon is currently the Deputy General Manager & Vice President, Asia Pacific Wealth Management, for Chubb Life in Asia. His responsibilities cover market developments, distribution, product design, reinsurance & marketing aspects to drive the growth and positioning of Wealth Management in Chubb Life for the region.
Prior to joining Chubb, Brandon was the Director in AIA Group’s High Net Worth regional team. He led the build and implementation of the HNW platform and proposition for AIA China to become AIA’s 3rd largest HNW market.
Graduated in Monash University in Melbourne Australia with Honours degree in Econometrics, Brandon began his career in actuarial science with experiences in product pricing, product development, product marketing and HNW distribution. His previous roles include Regional Head of Product Innovation for AXA and Director of MetLife’s Regional Finance team.
Brandon is an Associate of the Society of Actuaries.
Ben NgChief Marketing O�cer and Committee Member, Chubb Life Hong Kong
Ben Ng is the Chief Marketing O�cer and Executive Committee member of Chubb Life Hong Kong. Mr. Ng leads the corporate strategy, marketing, and product development teams.
Mr. Ng has 20 extensive years of actuarial and product development experience in life insurance industry, and was most recently the head of product development for FWD where he oversaw the management and implementation of new products and propositions, in addition to managing product suite. Prior to joining FWD, Mr. Ng was with Zurich, AXA China, AIA Regional & Winterthur in various actuarial, product and business development roles.
Anthony FayCounsel – TaxCli�ord Chance
Anthony is a tax lawyer with Cli�ord Chance in Hong Kong and oversees tax advisory across Asia Pacific for the firm. Anthony advises clients on a range of Asia inbound and outbound tax matters including M&A, fund structuring, and tax and regulatory compliance. Prior to joining Cli�ord Chance, he was Asia Head of Tax for a major financial institution and has worked inhouse in both the life and general insurance sectors.
David SussmanManaging Director,EFG Wealth Solutions
David has over 25 years experience in the international financial services arena. He has lived and worked in seven countries and has played a significant role in the development and execution of strategy at several of the world’s premiere banks and trust companies.
A qualified barrister and solicitor in Ontario, Canada and Bermuda, David served as General Counsel to Wood Gundy Inc., one of Canada’s largest Investment Banks and to Bank of Bermuda Limited. He has subsequently held increasingly senior management roles with Coutts, UBS, Franklin Templeton, the law firm of Conyers, Dill & Pearman, Barclays and EFG.
David holds a Bachelor of Arts from Huron University College at the University of Western Ontario, a Bachelor of Laws from the University of Windsor and a Master of Business Administration from Southern Methodist University. David is a member of the Society of Trust and Estate Practitioners and has served on the STEP Branch Executive in the Bahamas, Bermuda and Guernsey.
Amongst his professional accolades, David has been named to the Citywealth Leaders List every year since 2009 and serves on the STEP Private Client Awards Panel of Experts. David is a frequent speaker at industry trade gatherings and has published numerous articles on topics of interest to the international private banking, trust and investment community.
David has served as trusted advisor to ultra-high-net-worth families, numerous family o�ces, select institutional clients and several philanthropic enterprises on matters relating to succession, growth, leadership, risk mitigation, regulatory control and governance.
David has counselled clients on six continents and has been engaged in the establishment and administration of over 100 private trust companies. He has extensive experience in all transactional aspects associated with the structuring, financing and management of diverse asset classes such as multi-national manufacturing and production facilities, new and old media assets, entertainment conglomerates, hotel chains, professional sports franchises, commercial and residential real estate, ships, aircraft, intellectual property and a variety of chattels including wine, classic automobiles, antiquities, bloodstock and fine art.
Jim ManDirectorInsurance Product Management, APACCredit Suisse
Jim Man is Director of Insurance Solutions for Credit Suisse Private Banking Asia Pacific.
Jim oversees the life insurance referral business for Credit Suisse in Asia Pacific, formulating wealth planning strategy with private banking clients, as well as managing insurance broker and insurance carrier relationships for the bank.
Jim started working in wealth planner team of Credit Suisse Private Banking in December 2015. Previously, he spent 9 years in DBS, where he most recently headed the Investment and Insurance Product Division in their Taiwan team. In addition, Jim headed the strategic banking relationships business division at the international insurance brokerage firm Aon for 3 years.
Jim holds a Degree in Economics and a Master Degree in Business Administration. He is also a Certified Financial Planner (CFP), Fellow of Life Management Institute (FLMI), ARA, ACS and Associate of Chartered Insurance Institute (ACII).
Joanna HoManaging Director, Head of Wealth Planning North Asia, Private Wealth Solutions, HSBC Private Bank
Joanna Ho has more than 20 years of experience in wealth structuring and succession planning for ultra-high net-worth individuals. She joined the Private Wealth Solutions team at HSBC Private Bank in 2000 and worked across di�erent roles, including as a trust relationship manager and wealth planner. Prior to this, she was trained as an accountant in the tax and trust advisory area within Ernst & Young where she handled estate and succession planning needs for Asian clients with cross-border connections, such as Canada, Australia, the U.K. and the U.S.
Joanna is a qualified accountant of Canada, the U.S. and Hong Kong and a qualified STEP Practitioner. She holds a Bachelor of Commerce degree from the University of Calgary and a law degree from the University of London. Joanna was a member of Phi Beta Kappa and is the Honorary Treasurer of the Association of Women Accountants (Hong Kong) Limited.
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