Bank of Singapore Completes Acquisition of Barclays Singapore & Hong Kong
Bank of Singapore has completed the acquisition of the wealth and investment management of Barclays business in Singapore & Hong Kong (Barclays WIM Singapore and Hong Kong). US$13 billion of AUM has been passed to Bank of Singapore. Hence the purchase price will be at $227.5 million, which is 1.75% of the AUM transferred.
In addition, more than 60 bankers have been added to the Bank of Singapore.
News Source: Barclays Press Release
About Bank of Singapore
Bank of Singapore is a Singapore-based private banking arm of OCBC Bank. Formerly known as ING Asia Private Bank, it was acquired by OCBC in 2010. The combined private banking businesses of IAPB and OCBC was subsequently named Bank of Singapore. The products and services include those offered by OCBC, such as Consumer Banking, Corporate Banking, Commercial and Real Estate Lending, Treasury Services, Investment Banking, Transaction Banking, and Stock Broking Service.
- Origin : Singapore
- Assets : SGD 390.1 billion
- Revenue : SGD 2.06 billion
- Employees : 850
Official Website: www.bankofsingapore.com
News & Media: Press Release
Updated on 8th August 2016