The pair have entered into a strategic partnership to identify clients who need private banking, wealth planning and investment services, as Raffles expands its presence in the region.
Raffles Financial, a wholly owned subsidiary of Raffles Financial Group, is partnering BMO Private Bank, the international private banking arm of Bank of Montreal, to identify clients who require advice and management of their family trusts, custodian and private banking accounts, the firm announced in a statement on Monday.
The latter provides ultra-high-net-worth clients with investment advisory services, discretionary investment management services, banking services and trust and family office solutions through offices in Singapore and Hong Kong.
«We believe that the BMO and Raffles synergy will provide clients with a comprehensive and customized suite of corporate finance, investment and private banking solutions to meet their diverse requirements,» Charlie In, chairman, Raffles Financial Group, said about the agreement.
Growing Presence
Operating in Singapore and Hong Kong, Raffles provides public listing advisory and arrangement services, and serves as an advisor for family trusts, family offices and investment funds.
Working with BMO PBA will give its clients a complete suite of investment and private banking solutions, starting from public listing services to family trusts and portfolio management, the firm said in the announcement.
Last month, Raffles completed a C$20 million ($14.27 million) private placement through the sale of 4 million shares to Ping An Securities, Citic Securities, China Securities, and Hai Tong Securities.
