Bankers Charged by Singapore Were Stars of Race for China’s Rich
- Ex-Citi, Julius Baer staff accused of aiding money launderers
- Global banks ramped up hiring to woo wealthy Chinese clients
Wang Qiming
Photographer: Suhaimi Abdullah/BloombergThis article is for subscribers only.
Less than two years out of college, Wang Qiming was making waves within Citibank Singapore by bringing in millions in deposits from his rich clients.
At Swiss private bank Julius Baer in Singapore, Liu Kai was riding high. The young executive director was the envy of rivals that were trying to win more business from wealthy Chinese customers, and he was poached by another bank in 2022.