Country Managing Director — Wealth Division

The mandate

A privately held wealth business in Singapore has underperformed its opportunity for two years. Revenue concentration, elevated service cost and duplicated regional support have weakened the case for further investment. Local regulators and group sponsors want proof that growth can be profitable, well controlled and relevant to clients before they renew the country franchise’s licence to expand.

The Country Managing Director will steward approximately S$81,600 million in loans and deposits and lead around 975 employees and material partners. Scope spans country P&L, client segments, wealth propositions, distribution, operations, technology priorities, risk acceptance, people and regulatory relationships. Accountability is directly to the Group Chief Executive and board.

The first task is to establish complete country economics. Client assets, deposits, lending, fee yield, funding, advice, service, controls, technology and regional charges should reconcile by segment and relationship. The Managing Director must distinguish genuine enterprise services from allocations that disguise local inefficiency or burden the country with little influence over cost.

Growth choices will be selective. The franchise cannot serve every wealth segment with the same model. The appointee will decide which customer needs justify differentiated advice, lending and investment capability, where digital or pooled service is sufficient and which propositions should end. Historical prestige will not protect an uneconomic segment.

Cost-to-income improvement must follow redesigned activity. Spans, layers, locations, partners and manual work will be reviewed alongside demand and customer outcome. Savings will be recognised when work, contracts or infrastructure leave, not when vacancies accumulate. Regional hubs require measurable service and a route for local escalation.

Client continuity matters through portfolio changes. Coverage moves, repricing and product retirement need senior sponsorship, fair alternatives and conduct safeguards. The Managing Director should hear from clients who reduced relationships or complained, not only long-standing advocates selected by coverage teams.

Local growth also depends on regulator confidence. Material changes should show accountable owners, risk acceptance, operational readiness and customer consequence. The country leader will surface disagreement early and ensure group decisions can be explained in the local context without creating a shadow governance system.

Balance-sheet steering will connect wealth and lending economics. Deposits, secured credit, concentration, collateral and liquidity must be viewed across the complete relationship. Attractive assets under management cannot compensate automatically for mispriced lending or unstable funding.

Leadership will be reset around country outcomes. Product, coverage, operations and control executives need explicit decision rights and constructive tension. Succession must strengthen local depth while using regional mobility where it develops judgement. High performers who rely on workarounds or obscure economics will be challenged.

The operating review will combine customer, financial, service, risk and people evidence. It should trigger decisions before quarterly variance becomes an explanation. Forecast ranges, dependencies and downside actions will replace a single optimistic growth line.

Why this seat is open

This planned replacement provides a four-to-six-month succession period with the incumbent supporting an orderly handover. Confidentiality allows the board to assess candidates and communicate the transition to employees, clients and partners in a controlled sequence.

What you will own

• Rebuild country economics by segment, relationship and complete cost.
• Steward S$81,600 million of loans, deposits, capital and forecasts.
• Decide where the wealth franchise will grow, simplify or withdraw.
• Reset cost through activity, organisation, partner and infrastructure choices.
• Preserve clients and regulatory confidence through material change.
• Lead approximately 975 employees and partners with local succession depth.
• Align regional services with measurable country outcomes and escalation.
• Present the board with a credible three-year growth and downside case.

The first 12 months

During the first 90 days, reconcile country economics and stabilise priority customer or control concerns. Meet the 30 stakeholders most consequential to renewed growth, including major and former clients, regulators, regional functions, risk, employees and partners. Assess leaders and agree investment gates.

Months four to nine should make segment, proposition and organisation choices. Reprice or exit weak economics, simplify duplicated work and reset material services. Initial value should appear through stronger client contribution, released cost, more stable deposits or a credible investment redirected.

By year end, local growth, stakeholder confidence and enterprise alignment should improve consistently. Delivery must remain within 10% of approval and forecasts should reconcile balances, customer, cash and people over three quarters. Serious escalation cannot remain open beyond 30 days; priority fixes need independent proof of sustainability.

What the board will measure

• Risk-adjusted country contribution by segment and complete relationship.
• Cost removed through evidenced activity and service-model change.
• Client retention and conduct outcomes through repricing or proposition change.
• Regulatory confidence and timely resolution of local concerns.
• Retain over 90% of pivotal talent and provide immediate successors for 70% of direct roles.
• Forecast accuracy across balance sheet, cash, customers and workforce.

The person

You are a Country Managing Director, Country CEO or General Manager with 28 or more years in banking or a comparable regulated enterprise. You have restored a country business’s licence to grow after weak economics or stakeholder concern and carried direct commercial, people and governance accountability.

Your accountable P&L, book, budget or portfolio has been at least S$47,350 million, and you have led 675 or more people. You can show results sustained over two subsequent reporting periods.

You understand wealth propositions, lending, deposits and cross-border operating models. You can challenge group allocations and local exceptionalism with equal discipline while retaining the confidence of regulators and demanding clients.

Compensation and terms

Base compensation is S$700,000–950,000 plus annual incentive and LTI. The permanent Singapore appointment is onsite, supports international relocation and allows notice of up to six months.

Confidentiality

The bank, incumbent and country strategy will be shared only with qualified candidates under mutual confidentiality. Rounded facts prevent identification.