Taiwan’s Cathay United Bank Follows Client Money to Singapore
- Lender to increase headcount in the city-state to around 200
- Cathay Financial is run by Taiwan’s billionaire Tsai family
This article is for subscribers only.
Cathay Financial Holding Co., Taiwan’s largest financial firm by assets, is hiring more staff in Singapore to follow shifting regional money flows as its clients expand their presence in Southeast Asia.
The group’s Cathay United Bank Co. is ramping up headcount in the city-state to around 200 by 2025, from 100 two years ago, said Winfield Wong, Chief Executive Officer of the bank’s Singapore unit. Recent additions include relationship managers for corporate clients that are expanding in the region, as well as private bankers, he said.