WRISE’s Mass-Affluent Arm Names New CEO

The WRISE Prestige business, which was launched earlier this year to cover Asia’s mass-affluent business, is part of the Singapore-headquartered WRISE Group.

WRISE Prestige, a subsidiary of Singapore-based WRISE Group, has
appointed Henry Shin as its new CEO.

With more than 26 years’ experience, Shin will be taking on
the CEO responsibilities and day-to-day operations from Jowin
Fung, who will now focus on his current role as vice chairman.
Both persons will report to Stephen Yan, chairman, WRISE
Prestige.

The duo lead a team of 180 wealth consultants supported by 40
investment and support function colleagues in a new 17,000
sq ft Hong Kong office, centrally located at Lee Garden.

“Our strategic focus on expanding our team to better serve the
growing mass affluent segment is a cornerstone of our broader
mission to build a 360 wealth management ecosystem that caters to
the diverse financial aspirations of clients at every stage of
their wealth journey,” Yan said.

 

Left to right: Stephen Yan, chairman of WRISE Prestige, Derrick
Tan, chairman of WRISE Group, Jowin Fung, vice chairman of WRISE
Prestige, and Henry Shin, chief executive officer of WRISE
Prestige.

 

Platform

WRISE – a platform linked with 150 financial partners, including
Goldman Sachs, JP Morgan, UBS and others – is able to
sell products to HNW clients via WRISE offices in Hong Kong,
Singapore, Tokyo and Dubai. In June this year, WRISE Prestige
formed a strategic pact with Kingkey Privilege Wealth Management,
a provider of life insurance, over-the-counter (OTC) securities,
and funds.

The WRISE Prestige business was launched – as covered
here – in February to cover the mass-affluent market, and the
next generation of high net worth individuals in Asia-Pacific.
WRISE is working on the basis that, by 2030, Asia’s middle class
will amount to more than 3.5 billion people, with Southeast
Asia’s mass-affluent individuals forecast to reach 136 million.
(This news service has recently reflected on the
challenges of serving this market segment. See another
article on the Asian mass-affluent market, here.)

In January this year, WRISE also set up
operations in Dubai.

The roster of companies include WRISE Wealth Management
(Singapore), WRISE Wealth Management (Hong Kong), WRISE Wealth
Management (Middle East), WeWrise Services, and Voo Technologies
and affiliated companies WRISE Prestige Securities (Hong Kong),
WRISE Prestige Asset Management (Hong Kong), and WRISE Financial
Services (Hong Kong).