Bank of Singapore to Provide SMBC Trust Bank Clients Access to Investment Services
Bank of Singapore have entered a partnership to provide clients of SMBC Trust Bank with access to global investment products and services.
“Bank of Singapore to Provide SMBC Trust Bank Clients Access to Investment Services”
SMBC Trust Bank is a wholly owned subsidiary of Sumitomo Mitsui Banking Corporation, which is Japan’s second largest bank by assets. According to Boston Consulting Group, private wealth in Japan is expected to increase from US$14.9 trillion in 2016 to US$16.2 trillion in 2021.
SMBC Trust Bank had chosen Bank of Singapore due to its strong financial ratings – Aa1 from Moody’s, research and advisory capabilities, its ability to provide a wide range of innovative investment solutions through its open architecture product platform and track record of partnering with leading global asset management and investment firms.
Bahren Shaari, Chief Executive Officer of Bank of Singapore:
“We are pleased that SMBC Trust Bank has selected Bank of Singapore to help their clients grow their wealth outside of Japan. This is a testament to the strong brand that Bank of Singapore has built as Asia’s global private bank in the last eight years. SMBC Trust Bank wanted a private bank with Asian roots whom they can trust to serve in the best interests of their clients. At Bank of Singapore, we manage money as if it were our own, investing in a good mix of products for good returns over the long-term and protect it for generations to come.”
Source: Bank of Singapore
About Bank of Singapore
Bank of Singapore is the private banking subsidiary of OCBC Bank, the longest established Singapore bank. Incepted in 2010, Bank of Singapore is consistently ranked as the leading private bank in Singapore and Southeast Asia. It is headquartered in Singapore, which has a burgeoning reputation as an established centre for wealth management globally and in Asia.
As at 31 December 2017, Bank of Singapore’s AUM stood at US$99 billion, 25% higher than a year ago.