From the reshuffling of leadership roles across the private banking industry to wholesale changes in the competitive landscape, 2023 was characterised by heavyweight hirings in Asia Pacific. The Credit Suisse-UBS merger resulted in many of the former’s bankers jumping ship, creating some of the most impactful appointments of the year. From long-time Credit Suisse heavyweight Jin Yee Young joining UBS via Deutsche Bank […]

The post The biggest Hong Kong, Singapore private bank hires of 2023 appeared first on Asian Private Banker.

Bank of Singapore has a new CEO after Bahren Shaari announced that he was stepping down from the role, the private bank said on Tuesday. Jason Moo, who resigned from Bank Julius Baer last month, will start on March 6. Shaari’s last day as CEO was December 31. Vincent Choo, a member of the board of directors, will take the […]

The post Bank of Singapore hires ex-Julius Baer Southeast Asia head as CEO appeared first on Asian Private Banker.

Bank of Singapore’s CEO announced his retirement during a town hall meeting on Friday, Asian Private Banker can reveal. Bahren Shaari will retire from the firm as of the end of the year, Helen Wong, CEO of OCBC Bank said in an internal memo that was seen by APB. Wong said the bank would announce the appointment of new CEO […]

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Bank of Singapore, the private banking arm of the OCBC Group, has opened an onshore entity in Malaysia to capture growth opportunities in the country’s blooming wealth segment. BOS Wealth Management Malaysia (BOSWM) will offer customised wealth management solutions and investment advisory services to UHNW and HNW clients. “There is clearly potential for this market to develop and flourish,” said […]

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Bank of Singapore has partnered with a non-profit organisation in the city-state to provide clients with greater access to philanthropic activities, an area that has gained a lot of interest among HNW investors. The deal will see the Community Foundation of Singapore (CFS) offer clients advice on charities that match their interests, as well as tailor-make targeted charitable programmes. For […]

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An Asian Private Banker analysis of private banks recruitment trends in 2021 shows that Nomura, Deutsche Bank and Credit Suisse were the most active in hiring senior staff in the region, while Credit Suisse and Bank of Singapore saw a higher number of senior departures. Japan’s Nomura went on a hiring spree in Hong Kong and Singapore at the start […]

The post These Asian private banks were the most aggressive in recruiting senior staff last year appeared first on Asian Private Banker.

Third-quarter AUM at the private banking subsidiary of OCBC Bank was US$123 billion (S$167 billion), 6% up YoY but a decline of US$2 billion QoQ, as continued inflows of net new money (NNM) across different regions in which the bank operates were offset by a decline in market valuations. OCBC Group beat market expectations with a 19% YoY jump in […]

The post Bank of Singapore 3Q21 AUM grows 6% YoY to US$123 billion appeared first on Asian Private Banker.

The hiring spree in the private banking industry appears to have continued through October, a month which traditionally sees fewer moves, with bankers staying put and waiting to receive their bonuses before seeking greener pastures. Thanks to Hong Kong’s proximity to mainland China and its long history of serving mainland China wealth, Hong Kong private banking industry has had a […]

The post Movers & Shakers – October 2021 appeared first on Asian Private Banker.

Leadership changes will not disrupt Bank of Singapore’s agenda, CEO Bahren Shaari told Asian Private Banker, arguing that the lender’s business is not defined by any one personality. The exit of Derrick Tan, global market head for Greater China and North Asia and Hong Kong CEO, in August has raised questions over the potential impact on Bank of Singapore and […]

The post Bahren Shaari on succession at BoS: Our business is not defined by personality appeared first on Asian Private Banker.

Bank of Singapore has appointed UBS’s former APAC head of wealth planning and Singapore head of investment products and services as its new global head of products, Asian Private Banker can reveal. Lim Leong Guan will replace Marc Van de Walle, Bank of Singapore’s outgoing products head who has joined Standard Chartered as its global head of wealth management. Lim, […]

The post Bank of Singapore names UBS veteran as Van de Walle’s successor appeared first on Asian Private Banker.

Bank of Singapore has named a chief data and innovation officer today, a new role created to deepen its digital transformation programme. As chief data officer, Céline Le Cotonnec is to “unlock opportunities and deliver actionable insights” for clients and business functions. As head of the innovation unit, she will drive innovation efforts. She will report to Bahren Shaari, chief […]

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Bank of Singapore’s European subsidiary, BOS Wealth Management Europe (BOSWM), has officially opened nine months after the private bank received the green light from regulators. The Luxembourg-headquartered business, which includes a branch in London, marks a step up in ambition for the private bank which had previously serviced its European clients out of Singapore and via the London office of […]

The post Bank of Singapore’s European subsidiary goes live appeared first on Asian Private Banker.

Bank of Singapore’s assets under management (AUM) amounted to US$102 billion (S$139 billion) as at 31 December 2018, according to OCBC Group’s 2018 financial results. Kept buoyant by sustained net new money inflows, this translates into a 3% uptick in AUM from US$99 billion (S$132 billion) a year ago, despite backsliding quarter-on-quarter from 3Q18’s US$105 billion (S$144 billion). Early in […]

The post Bank of Singapore posts 3% AUM uptick in 2018 despite Q4 backslide appeared first on Asian Private Banker.

Bank of Singapore and Edelweiss Group have entered into a memorandum of understanding (MoU) to establish a strategic partnership that offers clients of both entities access to their respective product platforms — a move Bahren Shaari, CEO at Bank of Singapore, has termed a “milestone” in the lender’s strategy to tap into India’s growth. “With [the non-resident Indian (NRI)] segment, […]

The post Bank of Singapore, Edelweiss partner up to fill a “need gap” appeared first on Asian Private Banker.

‘Final Word’ is a ten-part series in which the industry’s leaders share their thoughts and opinions on key issues around industry trends, business performance, investment solutions, regulations and compliance, and technology. For this instalment, Asian Private Banker asks: Although geopolitical uncertainty and volatility pose a challenge to DPM performance, will these dynamics ultimately prove a boon for the discretionary business […]

The post Final Word 2018: CEOs discuss DPM and alternatives amid today’s erratic markets appeared first on Asian Private Banker.

‘Final Word’ is a ten-part series in which the industry’s leaders share their thoughts and opinions on key issues around industry trends, business performance, investment solutions, regulations and compliance, and technology. For this instalment, Asian Private Banker asks: In the midst of what has been construed as an increasingly difficult macroeconomic environment, how do you think the private banking and […]

The post Final Word 2018: CEOs share their thoughts on who will best withstand the difficult macroeconomic environment appeared first on Asian Private Banker.

‘Final Word’ is a ten-part series in which the industry’s leaders share their thoughts and opinions on key issues around industry trends, business performance, investment solutions, regulations and compliance, and technology. For this instalment, Asian Private Banker asks: How important is it for your business to make substantial inroads in China to ensure sustainability and growth over the next decade? […]

The post Final Word 2018: CEOs speak out on their China onshore strategies appeared first on Asian Private Banker.

‘Final Word’ is a ten-part series in which the industry’s leaders share their thoughts and opinions on key issues around industry trends, business performance, investment solutions, regulations and compliance, and technology. For this instalment, Asian Private Banker asks: What is the state of Asia’s talent pool and did your firm pay significantly higher for new talent? What is your view […]

The post Final Word 2018: CEOs chime in on the state of Asia’s PB talent pool appeared first on Asian Private Banker.

Bank of Singapore expects to launch private banking services for wealthy European Economic Area (EEA) and United Kingdom-based clients via a Luxembourg-based subsidiary in the third quarter of this year after receiving a regulatory green light to operate a wealth management business in the country. Bank of Singapore previously serviced these clients out of OCBC Bank’s London office and said […]

The post Bank of Singapore to launch wealth management subsidiary in Luxembourg appeared first on Asian Private Banker.

Bank of Singapore has inked a “first of its kind” partnership agreement with SMBC Trust Bank in Japan, a wholly-owned subsidiary of Sumimoto Mitsui Banking Corporation (SMBC), with the aim of bringing its global investment solutions to the Japanese lender’s domestic HNW client base. The partnership follows similar moves by rival private banks to tap onshore wealth markets where there […]

The post Bank of Singapore, SMBC Trust Bank in partnership agreement appeared first on Asian Private Banker.

A late-February tweet from Bank of Singapore’s CEO, Bahren Shaari, revealing the bank had passed the US$100 billion AUM mark some two years ahead of schedule, was today confirmed by parent bank OCBC’s first quarter earnings release. The private bank rounded out Q1 with US$102 billion in AUM — up US$3 billion from the previous quarter and 19% year-on-year. Shaari in […]

The post Bank of Singapore edges past US$100 billion in AUM, OCBC’s fee-based WM income jumps appeared first on Asian Private Banker.

One of Bank of Singapore’s longest-serving leaders, Sermon Kwan, has stepped down as chief executive of the Hong Kong branch but will remain on as a senior advisor at the private bank. Kwan, who ran ING Asia Private Bank’s Greater China business before OCBC Bank acquired the wealth management franchise and rebranded it as Bank of Singapore in 2009, served […]

The post Bank of Singapore’s Hong Kong branch CEO steps down appeared first on Asian Private Banker.

Bank of Singapore has reached the US$100 billion AUM milestone two years ahead of a target set by Bahren Shaari, the private bank’s CEO. Shaari told media in 2016 that Bank of Singapore was “aiming to amass at least” US$100 billion (S$137 billion) in client assets by 2020. The wealth manager rounded out 2016 with US$79 billion.  Earlier today, Shaari […]

The post Bank of Singapore achieves US$100 billion AUM milestone two years ahead of target appeared first on Asian Private Banker.

Bank of Singapore’s AUM reached US$95 billion at the end of the third quarter, driven largely by “healthy inflow of fresh funds” which includes a 30% YTD increase in funds managed through discretionary portfolio management (DPM), the Singaporean private bank’s CEO, Bahren Shaari told Asian Private Banker. According to the bank’s latest financial earnings, Bank of Singapore’s AUM increased from US$79 […]

The post 30% YTD increase in DPM assets drives Bank of Singapore’s AUM jump appeared first on Asian Private Banker.

Automation and disruptive technologies will alter the nature of private banking jobs – including the way relationship managers (RMs) communicate with their clients – in the next three to five years, Bank of Singapore CEO Bahren Shaari said at a conference on Friday. “All the manual processes that we are doing in the bank now will eventually be eliminated,” Shaari […]

The post Automation to impact RMs in next 3-5 years: BoS’ Bahren Shaari appeared first on Asian Private Banker.

Bank of Singapore is adding another floor to its Hong Kong offices to accommodate its growing team in the city, Asian Private Banker can reveal. The Singaporean lender will rent an additional floor in One International Finance Centre (IFC), the 34th floor, in addition to the bank’s existing offices in One IFC and Exchange Square. Advertisement It costs about HK$3.8 […]

The post Bank of Singapore adds floor as HK team continues to swell appeared first on Asian Private Banker.

Bank of Singapore has hired 20 relationship managers in Hong Kong this year, and the lender is open to acquiring assets with “similar business” in its key markets, according to a media report. “We continue to hire and there’s more in the pipeline, next quarter and the fourth quarter,” CEO Bahren Shaari said in an interview with Bloomberg, adding that […]

The post BoS has hired 20 RMs in Hong Kong this year, open to further acquisitions in Asia appeared first on Asian Private Banker.

Bank of Singapore has opened the doors to its branch in the Dubai International Financial Centre. The launch signifies Bank of Singapore’s bid to grow in the Middle East, said the bank in a media release. It will be helmed by market head for Middle East, Sub-continent and Africa, Kirit Chauhan, who will oversee 75 employees. The opening ceremony was attended by […]

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Bank of Singapore CEO, Bahren Shaari, says that he is considering opening a branch in London to take advantage of a weak post-Brexit pound. A London foray would also buttress the private bank’s non-resident Indian (NRI) strategy. “London has always been expensive as a place to do business,” Shaari told the Financial Times. “Now it has become 20 per cent cheaper.” Shaari […]

The post BoS’ possible London launch will bolster its NRI strategy appeared first on Asian Private Banker.

Bank of Singapore yesterday announced that it has completed its acquisition of Barclays Wealth and Investment Management in Hong Kong and Singapore, prompting a number of observers to weigh in on the success of the deal. But is it really that clearcut? A fair price? The records will show that Bank of Singapore paid US$227.5 million for Barclays at 1.75% of […]

The post Mission accomplished? Bank of Singapore’s Barclays deal under the microscope appeared first on Asian Private Banker.

Bank of Singapore (BoS) has completed its acquisition of Barclays’ wealth and investment management business in Hong Kong and Singapore, in the process onboarding 74% or US$13 billion of Barclays’ assets under management. The original purchase price of US$322 million was revised down to US$227.5 million at a rate of 1.75% of the assets transferred. When the agreement was signed on […]

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Bank of Singapore (BoS) has been granted a Category 4 licence to operate a branch in Dubai. The private bank said in a joint statement today that the licence will enable it extend to its product offering with a range of “customised private banking solutions, including investments, credit and wealth planning advisory services, to its ultra high and high net worth clients”. […]

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Bank of Singapore’s (BoS) CEO Bahren Shaari has added further colour to comments made last month, that the private bank is eyeing an onshore China play. Speaking to media yesterday, Shaari said that he is looking to enter the onshore space via a partnership model, potentially in Shanghai. A prospective onshore expansion will help Bank of Singapore in its client acquisition […]

The post BoS seeking an onshore China partner appeared first on Asian Private Banker.

Bank of Singapore (BoS) has joined a growing list of private banks that are considering setting up an onshore business in China. Speaking at a wealth management summit in Singapore yesterday, Bahren Shaari, BoS CEO, said that a China play is something that he is exploring, although he did not provide specifics on how BoS plans to capture a slice of […]

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Bank of Singapore, in partnership with the Wealth Management Institute and Nanyang Technological University, has launched a private banking training programme for its own staff, in an effort to upskill the private bank’s internal talent pool. The new training and development programme, which culminates with graduates being awarded an Advanced Diploma in Private Banking, will provide tutelage as well as hands-on experience […]

The post BoS seeks to “upgrade” existing staff rather than hire bankers with new training programme appeared first on Asian Private Banker.

Bank of Singapore grew its assets under management (AUM) by almost 8% year-on-year in 2015 – one of just ten private banks to do so on Asian Private Banker’s 2015 AUM League Table, which tracks Asia’s top 20 private banks by client assets. Its CEO tells Asian Private Banker what the industry can expect in 2016 – and what his […]

The post Straight Talk: Bahren Shaari, chief executive officer, Bank of Singapore appeared first on Asian Private Banker.

Book size and the ability to leverage on existing and recurring business: these are the key qualities that private banks look for in frontliners today, say experts that include three prominent wealth management players. The relationship manager (RM) talent pool seems to be a constant game of musical chairs, and each time an experienced banker moves to another bank, his […]

The post What do CEOs look for in a RM? appeared first on Asian Private Banker.

So the deal is done but the dust has far from settled. Following a month of conjecture and rumour, Barclays Bank has found a buyer for its wealth and investment management (WIM) business in Hong Kong and Singapore. Bank of Singapore, the wealth management arm of Singaporean institution, OCBC Bank, has agreed to acquire Barclays’ regional WIM business for US$320 […]

The post Sold! Barclays finds a buyer for its Asia wealth arm appeared first on Asian Private Banker.

Bank of Singapore (BOS) has relocated a non-resident Indian (NRI) specialist desk to Dubai as it seeks to boost its Middle East footprint. Nikhil Advani moves from Singapore to Dubai to take on a new role as a senior relationship manager with the mega-wealth team in the United Arab Emirates. He now reports to Kirit Chauhan, market head of Middle East, BOS. […]

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Bank of Singapore plans to boost its Dubai desk as it looks to expand its presence in the Middle East and capitalise on HNWIs in the region, such as the non-resident Indians (NRIs) segment. “The UAE is our core market at the moment, but we are also looking at Saudi Arabia as a growth market, not only within the non-resident Indian […]

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Bank of Singapore has appointed a new chief representative for their Philippines business, based in Manila. Manual Ahyong, Jr (Jun) will be the Singaporean private bank’s new Philippines chief representative, global marketing head, based in Manila, effective from 16 December 2015. He will replace Kristen Quintos, who will be retiring on 15 December 2015. When contacted, a spokesperson from the bank confirmed […]

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Bank of Singapore (BoS) has set out that half of the growth in net new money (NNM) in the last five years has come from referrals from its parent group OCBC. This mirrors a global aim among banks to grow via cross-pollination of business between their retail, investment and private wealth arms. “We have a very strong partnership with our OCBC […]

The post 50% of Bank of Singapore’s NNM growth from OCBC ties appeared first on Asian Private Banker.

Senior leadership changes continue at Bank of Singapore as one of the bank’s longest-serving employees retires. The bank confirmed that deputy chief executive officer Peter Teo is retiring and will be step down at the end of April 2015. Teo has been with the organisation for over 22 years, including numerous senior positions within ING Bank before it was subsumed by OCBC, the […]

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The bank has confirmed that its Chief Executive Officer has retired. In a press release the bank stated: “Mr Renato de Guzman, or Bing as he is known to many, will retire as Chief Executive Officer on 31 January 2015. To ensure a smooth transition, he will remain at Bank of Singapore as Senior Advisor till 30 June 2015. Banking veteran Mr […]

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Bank of Singapore has appointed Terence Seow, a seasoned private banker with more than 15 years of industry experience to head a new team for its South East Asian market. Seow, who joins Bank of Singapore as a managing director, is responsible for expanding Bank of Singapore’s business in the region, with a focus on the Indonesian market. He reports […]

The post Bank of Singapore appoints three ex-DBS bankers to its South East Asian team appeared first on Asian Private Banker.

Bank of Singapore has hired in Singapore for the Korea desk and Southeast Asia team. Following on the appointment of the head of the Korea desk, Singapore, Moon Seong-Jin, who joined the Bank in July 2010, the bank has added another two RMs to the Korea desk, Singapore: Kim Dong Yoon and Daniel Lee Sang Kee. Both are formerly from […]

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Sarasin on March 18 officially launched Bank Sarasin & Cie Hong Kong branch (BSC HK). BSC HK is the first branch outside of Switzerland for the Basel-headquartered Sarasin Group, and its third booking centre. Enid Yip, CEO Asia, is the branch manager. BSC HK allows clients to book assets in Hong Kong. While under its old licensing Sarasin was able […]

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Bank of Singapore has announced the appointment of Derrick Tan as an executive director reporting to Bahren Shaari, who heads Southeast Asia. Tan’s 15-year career began with the Commercial Crime Investigation with the Singapore police force. He then moved to banking, first with Citibank then HSBC and then UBS. In February Bank of Singapore announced the hire of Robin Heng, […]

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