Dugan replaces Norman Villamin who, as previously announced by Coutts, is moving to Zurich to assume the role of CIO for Europe. He is due to join the company in July and will be based in Coutts’ Singapore office.
Coutts said Dugan’s hire complements recent appointments it has made in the product & services team, including Paul Sarosy who Dugan will report to, and who was appointed to the investment office last week.
The company added Dugan is a key hire, at a time when it is “undergoing significant expansion in Asia and the Middle East”. He worked at Emirates NBD since 2009, based in Dubai, and has also served as acting general manager for the firm. Prior to this, Dugan worked as managing director at CIO of Merrill Lynch Global Wealth Management (EMEA) in London, following five years at Barclays in London as managing director and head of research and investment strategy for their wealth management business.
Gayle Schumacher, managing director, head of investment office at Coutts, said: “We are expanding significantly in Asia and the Middle East and an appointment of Gary’s calibre reflects our ambitions for growth in the region. Providing our clients with exceptional investment solutions that meet their evolving needs is a key driver in our strategy for growth.”