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Bank of Singapore to Increase Minimum Entry Level for High Net Worth Clients
Bank of Singapore intends to hire more relationship managers and focus on serving a wealthier group of clients to increase the assets under management.
“qualify for its private-banking services will be raised to $5 million in a few years’ time from $2 million currently.”
Chief Executive Officer Bahren Shaari has said the minimum amount a client must keep with the firm to qualify for its private-banking services will be raised to $5 million in a few years’ time from $2 million currently. The move is aimed at boosting the bankers’ productivity so they can focus on providing better services to fewer, high-net worth customers.
News Source: Bloomberg
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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
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Updated on 8th August 2016
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