Julius Baer Group Ltd’s SEBA Bank AG has appointed an ex-JPMorgan Chase & Co banker as its Asia Pacific chief executive officer.
Amy Yu is 38 years old. She previously worked for JPMorgan in the Asia-Pacific region, building out its prime services division. In 2018, she entered the crypto world and began working for BitMex. There, she was hired to sell institutional products across the globe. Following that, she joined Genesis, which went bankrupt in February.
A succession of blow-ups in the crypto sector, including the FTX epic implosion in November, has bombarded the sector. The events made crypto and DeFi investors more cautious.
SEBA bank holds Finma license strengthening customer trust
Finma is the Swiss banking regulator. It has licensed the Swiss bank, founded in 2018, and headquartered in Zug. Yu is based in Singapore originally. She informed that SEBA is investigating licensing in both Hong Kong and Singapore.
According to Yu, any hiring plans will go together with progress on licensing. The bank currently employs around three people in Singapore and seven in Hong Kong. HK is working hard to attract digital asset companies. Paul Chan is a Financial Secretary who insists the city intends to become a regional crypto center, despite initially being slower in engaging with crypto.
However, Singapore, on the other hand, has been hit hard by blowups in the crypto sector. Crypto lender Hodlnaut and Three Arrows Capital hedge fund cases resulted in Singapore refraining from crypto offers to retail investors.
According to Yu, Hong Kong has erupted with a roar in the previous two months. It demonstrated its desire to establish a regulatory framework for corporations. However, she said it wasn’t a competition between the cities.
According to Yu, SEBA Bank’s Hong Kong and Singapore offices primarily offer consulting, market research, and reverse inquiries.
