China Renaissance appoints two senior executives in SE Asia

China Renaissance Holdings Ltd has appointed two senior executives in Singapore, the lender said in a statement, as the investment bank looks to expand its operations in Southeast Asia.

The move comes at a time where tough measures to combat the spread of COVID-19 in China and Hong Kong have led to some entrepreneurs and investors to set up shop or expand their investment in Singapore.

China Renaissance named Wee Leong Gan as its head of ASEAN and Chuan Qin as the chief of its ASEAN financial advisory division.

The Chinese investment bank said its Singapore unit has obtained the capital markets services licence from the Monetary Authority of Singapore.

"Our intention is to fully replicate China Renaissance's China businesses to ASEAN, using Singapore as a springboard to expand our geographic presence not just in ASEAN but globally," Gan said in the statement.

There has been a big influx of family offices and funds to Singapore, especially from China, and funds and tycoons have been snapping up premium properties and backing start-ups based in the city and the region.