Bank of Singapore Launches Advisory Portfolio Management (APM) Services in Hong Kong, Clients Involved in Investment Decisions & Consent Required for Transactions, Bank of Singapore Asia ex-Japan Equity Portfolio +31.3% YTD, Singapore Equity Portfolio +22.8% YTD & +14.8% Annualized Last 5 Years, Portfolio Mandate Available in Both SGD & USD
9th November | Hong Kong
OCBC Group independent private banking subsidiary Bank of Singapore ($110 billion AUM) has launched Advisory Portfolio Management (APM) services in Hong Kong, with clients involved in investment decisions & consent required for transactions. Bank of Singapore Asia ex-Japan Equity Portfolio +31.3% YTD, Singapore Equity Portfolio +22.8% YTD & +14.8% annualized last 5 years. Bank of Singapore Portfolio mandate is available in both SGD & USD. In 2025 August, Bank of Singapore launched a new family office solution (Bank of Singapore Family Catalyst) for UHNWI (Ultra high net worth individual), providing Singapore qualifying tax exemptions (13O & 13U) to the UHNWI by appointing Bank of Singapore as fund manager of UHNWI investment vehicle (minimum $20 million AUM) and with the funds managed by Bank of Singapore Discretionary Portfolio Management (DPM) or Advisory Portfolio Management (APM). In 2025 1st half, Bank of Singapore Asia equity portfolio reported +14.2% & Singapore equity portfolio +12.6% (+12.7% yearly in last 5 years). In 2025 July, Bank of Singapore announced the launch of a new risk-based Strategic Asset Allocation Framework after stress-testing 120,000 portfolios, with the framework developed by Bank of Singapore Chief Investment Office led by Chief Portfolio Strategist Owi S. Ruiviva who has more than 30 years of experience including at Singapore GIC, International Monetary Fund (IMF), and 17 years at Goldman Sachs Asset Management (including founding portfolio manager of Lipper-awarded Emerging Market debt franchise with $60 billion in assets). In 2025 June, Bank of Singapore added 4 new members to the CIO Global Advisory Council with current total of 9 members. The 4 new members are 1) President of CF40 Institute & ex-IMF Economist Dr. Guo Kai, 2) Vice Chair of Capital International & ex-United States Ambassador to Germany John Emerson, 3) Blackstone Private Wealth Chief Investment Strategist Joseph Zidle & 4) Apollo Global Management Chief Economist & Partner Torsten Slok. In 2024 May, Bank of Singapore launched a new CIO Global Advisory Council with 8 members: 1) BlackRock Head of APAC Active Investments Belinda Boa, 2) Blackstone Global Co-CIO Ken Caplan, 3) M&G Investments CIO Equities, Multi-Asset & Sustainability Fabiana Fedeli, 4) Temasek Advisor Senior Director Robin Hu, 5) Goldman Sachs Co-Head for Office of Government Affairs APAC Stewart James, 6) Nomura Asset Management CIO Yuichi Murao, 7) Peterson Institute for International Economics President Adam Posen, and 8) KKR Chief Investment Strategist for Global Wealth Paula Campbell Roberts.
“ Bank of Singapore Launches Advisory Portfolio Management (APM) Services in Hong Kong, Clients Involved in Investment Decisions & Consent Required for Transactions, Bank of Singapore Asia ex-Japan Equity Portfolio +31.3% YTD, Singapore Equity Portfolio +22.8% YTD & +14.8% Annualized Last 5 Years, Portfolio Mandate Available in Both SGD & USD “
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Bank of Singapore Launches New Family Office Solution (Bank of Singapore Family Catalyst) for UHNWI Providing Singapore Qualifying Tax Exemptions (13O & 13U) by Appointing Bank of Singapore as Fund Manager of Investment Vehicle (Minimum $20 Million AUM), Funds Managed by Discretionary Portfolio Management (DPM) or Advisory Portfolio Management (APM), Asia Equity Portfolio +14.2% in 2025 1H & Singapore Equity Portfolio +12.6% in 2025 1H & +12.7% Yearly in Last 5 Years
18th August – OCBC Group independent private banking subsidiary Bank of Singapore ($110 billion AUM) has launched a new family office solution (Bank of Singapore Family Catalyst) for UHNWI (Ultra high net worth individual), providing Singapore qualifying tax exemptions (13O & 13U) to the UHNWI by appointing Bank of Singapore as fund manager of UHNWI investment vehicle (minimum $20 million AUM) and with the funds managed by Bank of Singapore Discretionary Portfolio Management (DPM) or Advisory Portfolio Management (APM). In 2025 1st half, Bank of Singapore Asia equity portfolio reported +14.2% & Singapore equity portfolio +12.6% (+12.7% yearly in last 5 years). Announcement (18/8/25): “Bank of Singapore today announced the launch of the Bank of Singapore Family Office Catalyst, a new solution tailored for ultra-high net worth individuals (UHNWI) seeking professional wealth management in Singapore. This solution provides principal advantages traditionally associated with a single-family office (SFO) — access to specialised investment expertise and eligibility for tax exemptions — without the need to establish and manage a dedicated SFO. Through this solution, Bank of Singapore will be appointed as the fund manager of the UHNWI’s investment vehicle that can qualify for tax exemptions under Sections 13O and 13U of the Income Tax Act 1947, similar to those available to SFOs, subject to the fulfilment of the schemes’ conditions. The funds in the investment vehicle, with at least US$20 million assets under management, will be professionally managed by the Bank either through discretionary portfolio management (DPM) or advisory portfolio management (APM). The launch of the Bank of Singapore Family Office Catalyst is timely given that challenges faced by family offices have become more profound. According to a 2024 McKinsey report, rising operational costs and the need to have access to technology-enabled platforms were cited as among the top five challenges that family offices in Asia Pacific face. Bank of Singapore’s discretionary and advisory portfolio management teams have stellar track records and deep expertise in portfolio construction and investment management, with a distinctive edge in Asian markets and multi-asset portfolios. As of June 2025, the Bank’s Asia equity portfolio delivered a 14.2% year-to-date return, while its Singapore equity portfolio posted 12.6% gains. Over the last five years, annualised returns reached 12.7% for its Singapore equity portfolio, outperforming reference indices. The Bank’s ESG mandate, a flagship offering introduced in 2023, achieved more than 20% annualised returns in the two years it was launched. On average, the portfolio managers in these teams have more than 15 years of experience. Investment management strategies offered by the portfolio management teams can be highly bespoke and tailored to each investor’s circumstances, risk appetites and goals. They will incorporate the Bank’s newly launched strategic asset allocation framework, designed to help clients build resilient, long-term investment portfolios that can withstand market uncertainties and deliver more stable returns. The UHNWIs will also have access to Bank of Singapore’s full suite of resources and expertise to grow their wealth and secure their legacies holistically. These include wealth planning and trust services. They will have the flexibility to transition to a SFO structure subsequently if they wish to do so. The UHNWI segment is a strategic focus of Bank of Singapore. In 2024, assets under management in this segment recorded a double-digit year-on-year growth. Clients in this segment have a net worth of US$250 million and above. In 2025 July, Bank of Singapore announced the launch of a new risk-based Strategic Asset Allocation Framework after stress-testing 120,000 portfolios, with the framework developed by Bank of Singapore Chief Investment Office led by Chief Portfolio Strategist Owi S. Ruiviva who has more than 30 years of experience including at Singapore GIC, International Monetary Fund (IMF), and 17 years at Goldman Sachs Asset Management (including founding portfolio manager of Lipper-awarded Emerging Market debt franchise with $60 billion in assets). In 2025 June, Bank of Singapore added 4 new members to the CIO Global Advisory Council with current total of 9 members. The 4 new members are 1) President of CF40 Institute & ex-IMF Economist Dr. Guo Kai, 2) Vice Chair of Capital International & ex-United States Ambassador to Germany John Emerson, 3) Blackstone Private Wealth Chief Investment Strategist Joseph Zidle & 4) Apollo Global Management Chief Economist & Partner Torsten Slok. In 2024 May, Bank of Singapore launched a new CIO Global Advisory Council with 8 members: 1) BlackRock Head of APAC Active Investments Belinda Boa, 2) Blackstone Global Co-CIO Ken Caplan, 3) M&G Investments CIO Equities, Multi-Asset & Sustainability Fabiana Fedeli, 4) Temasek Advisor Senior Director Robin Hu, 5) Goldman Sachs Co-Head for Office of Government Affairs APAC Stewart James, 6) Nomura Asset Management CIO Yuichi Murao, 7) Peterson Institute for International Economics President Adam Posen, and 8) KKR Chief Investment Strategist for Global Wealth Paula Campbell Roberts.
Lim Leong Guan, Global Head of Financial Intermediaries, Family Office and Wealth Advisory, Bank of Singapore: “Ultra-high net worth individuals continue to be keen to professionalise the management of their wealth, and many are exploring alternative options to single-family offices. Concerns around high operating costs and the challenge of attracting suitable investment talent amid intense competition, are prompting them to consider more efficient solutions. Our Family Office Catalyst solution addresses these issues by allowing these individuals to tap into the deep expertise of our portfolio management teams to manage their assets and still qualify for tax incentives, supplemented by the Bank’s comprehensive wealth management ecosystem. We believe this presents a cost-efficient and holistic alternative solution to setting up their own SFOs.”
Bank of Singapore Launches New Risk-Based Strategic Asset Allocation Framework after Stress-Testing 120,000 Portfolios, Developed by Chief Investment Office Led by Chief Portfolio Strategist Owi S. Ruivivar Who Has 30 Years of Experience Including at Singapore GIC, International Monetary Fund & 17 Years at Goldman Sachs Asset Management
6th July – OCBC Group independent private banking subsidiary Bank of Singapore ($110 billion AUM) has announced the launch of a new risk-based Strategic Asset Allocation Framework after stress-testing 120,000 portfolios, with the framework developed by Bank of Singapore Chief Investment Office led by Chief Portfolio Strategist Owi S. Ruiviva who has more than 30 years of experience including at Singapore GIC, International Monetary Fund (IMF), and 17 years at Goldman Sachs Asset Management (including founding portfolio manager of Lipper-awarded Emerging Market debt franchise with $60 billion in assets). In 2025 June, Bank of Singapore added 4 new members to the CIO Global Advisory Council with current total of 9 members. The 4 new members are 1) President of CF40 Institute & ex-IMF Economist Dr. Guo Kai, 2) Vice Chair of Capital International & ex-United States Ambassador to Germany John Emerson, 3) Blackstone Private Wealth Chief Investment Strategist Joseph Zidle & 4) Apollo Global Management Chief Economist & Partner Torsten Slok. In 2024 May, Bank of Singapore launched a new CIO Global Advisory Council with 8 members: 1) BlackRock Head of APAC Active Investments Belinda Boa, 2) Blackstone Global Co-CIO Ken Caplan, 3) M&G Investments CIO Equities, Multi-Asset & Sustainability Fabiana Fedeli, 4) Temasek Advisor Senior Director Robin Hu, 5) Goldman Sachs Co-Head for Office of Government Affairs APAC Stewart James, 6) Nomura Asset Management CIO Yuichi Murao, 7) Peterson Institute for International Economics President Adam Posen, and 8) KKR Chief Investment Strategist for Global Wealth Paula Campbell Roberts. Bank of Singapore (30/5/24): “Bank of Singapore today announced the creation of an independent investment advisory council to augment the Bank’s Chief Investment Office’s (CIO) research capabilities and develop relevant insights for its clients. The Bank of Singapore CIO Global Advisory Council comprises experts from leading think tanks and asset managers around the world. The convening of such a diverse group of renowned experts to benefit ultra-high net worth families and high net worth individuals is one of the first-of-its-kind by a private bank in Asia. With increased market uncertainties, it has become even more critical for investors to have a holistic view of the upside and downside risks, as well as structural trends impacting the geopolitical and economic landscape. Timely and diverse insights will help to provide investors with a crucial advantage in identifying attractive risk-adjusted investment opportunities. The Bank of Singapore CIO Global Advisory Council is made up of 8 members who are chosen based on their sterling track records in their respective fields such as economics, public policy, geopolitical analysis, asset allocation and investment management. Their insights are widely sought after and publicised in leading global media publications. Having weathered major financial crises like the global financial crisis in 2008 and the COVID- 19 pandemic in 2020, the Council members are well-versed in the causes and effects of such economic turmoil. As such, the Council is well placed to provide astute analyses for investors.”
Bank of Singapore Adds 4 New Members to CIO Global Advisory Council with Total of 12 Members, 4 New Members are 1) President of CF40 Institute & ex-IMF Economist Dr. Guo Kai, 2) Vice Chair of Capital International & ex-United States Ambassador to Germany John Emerson, 3) Blackstone Private Wealth Chief Investment Strategist Joseph Zidle & 4) Apollo Global Management Chief Economist & Partner Torsten Slok
18th June – Bank of Singapore with $110 billion AUM (Assets under Management) has added 4 new members to the CIO Global Advisory Council with current total of 9 members. The 4 new members are 1) President of CF40 Institute & ex-IMF Economist Dr. Guo Kai, 2) Vice Chair of Capital International & ex-United States Ambassador to Germany John Emerson, 3) Blackstone Private Wealth Chief Investment Strategist Joseph Zidle & 4) Apollo Global Management Chief Economist & Partner Torsten Slok. In 2024 May, Bank of Singapore launched a new CIO Global Advisory Council with 8 members: 1) BlackRock Head of APAC Active Investments Belinda Boa, 2) Blackstone Global Co-CIO Ken Caplan, 3) M&G Investments CIO Equities, Multi-Asset & Sustainability Fabiana Fedeli, 4) Temasek Advisor Senior Director Robin Hu, 5) Goldman Sachs Co-Head for Office of Government Affairs APAC Stewart James, 6) Nomura Asset Management CIO Yuichi Murao, 7) Peterson Institute for International Economics President Adam Posen, and 8) KKR Chief Investment Strategist for Global Wealth Paula Campbell Roberts. Bank of Singapore (30/5/24): “Bank of Singapore today announced the creation of an independent investment advisory council to augment the Bank’s Chief Investment Office’s (CIO) research capabilities and develop relevant insights for its clients. The Bank of Singapore CIO Global Advisory Council comprises experts from leading think tanks and asset managers around the world. The convening of such a diverse group of renowned experts to benefit ultra-high net worth families and high net worth individuals is one of the first-of-its-kind by a private bank in Asia. With increased market uncertainties, it has become even more critical for investors to have a holistic view of the upside and downside risks, as well as structural trends impacting the geopolitical and economic landscape. Timely and diverse insights will help to provide investors with a crucial advantage in identifying attractive risk-adjusted investment opportunities. The Bank of Singapore CIO Global Advisory Council is made up of 8 members who are chosen based on their sterling track records in their respective fields such as economics, public policy, geopolitical analysis, asset allocation and investment management. Their insights are widely sought after and publicised in leading global media publications. Having weathered major financial crises like the global financial crisis in 2008 and the COVID- 19 pandemic in 2020, the Council members are well-versed in the causes and effects of such economic turmoil. As such, the Council is well placed to provide astute analyses for investors.”
The 2025 CIO Global Advisory Council 4 new members are:
- President of CF40 Institute & ex-IMF Economist Dr. Guo Kai
- Vice Chair of Capital International & ex-United States Ambassador to Germany John Emerson
- Blackstone Private Wealth Chief Investment Strategist Joseph Zidle
- Apollo Global Management Chief Economist & Partner Torsten Slok
The 2025 CIO Global Advisory Council 5 existing members are:
- Fabiana Fedeli (菲比安娜 费德丽), Chief Investment Officer, Equities, Multi-Asset
- Robin Hu (胡以晨), Asia Chair, Milken Institute and Advisor Senior Director, Temasek
- Yuichi Murao (村尾祐一), Chief Investment Officer, Nomura Asset Management
- Adam Posen (亚当 波森), President, Peterson Institute for International Economics
- Paula Campbell Roberts (宝拉 坎贝尔 罗伯茨), Chief Investment Strategist for
Global Wealth, KKR
The 2024 CIO Global Advisory Council members are:
- Belinda Boa (貝琳婷), Head of APAC Active Investments and Chief Investment Officer of Emerging Markets, BlackRock
- Ken Caplan, Global Co-Chief Investment Officer, Blackstone
- Fabiana Fedeli (菲比安娜 费德丽), Chief Investment Officer, Equities, Multi-Asset
and Sustainability, M&G Investments - Robin Hu (胡以晨), Asia Chair, Milken Institute and Advisor Senior Director, Temasek
- Stewart James (詹韶华 高盛), Co-Head, Office of Government Affairs APAC, Goldman Sachs
- Yuichi Murao (村尾祐一), Chief Investment Officer, Nomura Asset Management
- Adam Posen (亚当 波森), President, Peterson Institute for International Economics
- Paula Campbell Roberts (宝拉 坎贝尔 罗伯茨), Chief Investment Strategist for
Global Wealth, KKR
Jean Chia (谢佩华), Global Chief Investment Officer (环球首席投资官), Bank of Singapore: “Building intellectual capital is a key part of the bank’s strategy to become the top private bank in Asia. In today’s knowledge-driven economy, we are enhancing our competitive advantage by investing in research capabilities, which includes convening this global advisory council that complements our in-house insights. The council pools together a group with valuable knowledge and deep expertise, strengthening our value proposition of becoming the go-to bank for investment advice and advisory and discretionary portfolio management.”
Quality investment and portfolio advisory as a key differentiator
- With quality investment and portfolio advisory at the forefront of Bank of Singapore’s corporate strategy, the formation of the CIO Global Advisory Council is one of the latest in a concerted series of moves to differentiate the Bank in this area.
- Since January 2024, the Chief Investment Office has been a standalone unit that reports directly to Chief Executive Officer (首席执行官) Jason Moo (巫毅盛). The Chief Investment Office sets the asset allocation framework, investment views and securities research, while the advisory and discretionary portfolio management teams manage the clients’ assets in alignment with their return expectations and risk appetite.
- While the CIO Global Advisory Council offers complementary insights, the Bank’s house view – which guides investment decisions – is built upon the Chief Investment Office’s in-house research, investment strategy and asset allocation expertise.
- This year, the Chief Investment Office has also implemented a market leading wealth management and investment management technology platform to enhance the client experience through its client portfolio analysis and portfolio construction capabilities, which is already widely used by asset managers and institutional investors. Bank of Singapore is one of the first private banks in Asia to adopt the platform for private banking clients.
Bank of Singapore Launches New CIO Global Advisory Council with 8 Members: BlackRock Head of APAC Active Investments Belinda Boa, Blackstone Global Co-CIO Ken Caplan, M&G Investments CIO Equities, Multi-Asset & Sustainability Fabiana Fedeli, Temasek Advisor Senior Director Robin Hu, Goldman Sachs Co-Head for Office of Government Affairs APAC Stewart James, Nomura Asset Management CIO Yuichi Murao, Peterson Institute for International Economics President Adam Posen & KKR Chief Investment Strategist for Global Wealth Paula Campbell Roberts
30th May 2024 – Bank of Singapore with $110 billion AUM (Assets under Management) has launched a new CIO Global Advisory Council with 8 members: 1) BlackRock Head of APAC Active Investments Belinda Boa, 2) Blackstone Global Co-CIO Ken Caplan, 3) M&G Investments CIO Equities, Multi-Asset & Sustainability Fabiana Fedeli, 4) Temasek Advisor Senior Director Robin Hu, 5) Goldman Sachs Co-Head for Office of Government Affairs APAC Stewart James, 6) Nomura Asset Management CIO Yuichi Murao, 7) Peterson Institute for International Economics President Adam Posen, and 8) KKR Chief Investment Strategist for Global Wealth Paula Campbell Roberts. Bank of Singapore (30/5/24): “Bank of Singapore today announced the creation of an independent investment advisory council to augment the Bank’s Chief Investment Office’s (CIO) research capabilities and develop relevant insights for its clients. The Bank of Singapore CIO Global Advisory Council comprises experts from leading think tanks and asset managers around the world. The convening of such a diverse group of renowned experts to benefit ultra-high net worth families and high net worth individuals is one of the first-of-its-kind by a private bank in Asia. With increased market uncertainties, it has become even more critical for investors to have a holistic view of the upside and downside risks, as well as structural trends impacting the geopolitical and economic landscape. Timely and diverse insights will help to provide investors with a crucial advantage in identifying attractive risk-adjusted investment opportunities. The Bank of Singapore CIO Global Advisory Council is made up of 8 members who are chosen based on their sterling track records in their respective fields such as economics, public policy, geopolitical analysis, asset allocation and investment management. Their insights are widely sought after and publicised in leading global media publications. Having weathered major financial crises like the global financial crisis in 2008 and the COVID- 19 pandemic in 2020, the Council members are well-versed in the causes and effects of such economic turmoil. As such, the Council is well placed to provide astute analyses for investors.”
Bank of Singapore
Bank of Singapore is the dedicated private banking subsidiary of OCBC. Backed by OCBC’s strong credit ratings of Aa1 by Moody’s and AA- by both Fitch and S&P, it offers a unique value proposition as a safe Singapore-registered private bank. Its open-architecture product platform backed by strong research capabilities provides clients with first-class private banking and bespoke wealth planning solutions. It is also able to leverage OCBC’s capabilities to extend its clients a broad array of services across the OCBC’s regional and international network. Bank of Singapore serves high net worth individuals and wealthy families in its key markets of Asia, Greater China, the Indian subcontinent and other international markets. Headquartered in Singapore, Bank of Singapore has branches in Hong Kong and DIFC (Regulated by the DFSA), with a representative office in Manila. In Europe, the bank serves clients through BOS Wealth Management Europe Société Anonyme (S.A.) which is headquartered in Luxembourg and has a London office. In Malaysia, it serves its clients through BOS Wealth Management Malaysia Berhad. Its strong performance has won it numerous industry recognitions. Bank of Singapore was named Best Overall Asia Private Bank by WealthBriefing Asia and World’s Best for ESG Investing by Euromoney in 2023.
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