A former senior executive from Union Bancaire Privée has joined Bank of Singapore to lead its Middle East business.
Bank of Singapore appoints Ranjit Khanna as global market head of Middle East and chief executive of the Dubai International Financial Center (DIFC) branch, according to a statement, from April 3, subject to regulatory approval. He will also join the bank’s management committee and report to Bank of Singapore CEO Jason Moo.
Khanna has over 25 years of banking experience, including 13 years in Dubai. He was most recently working at UBP as its Singapore CEO and head of private banking for South Asia.
Reshuffled Roles
Khanna succeeds Alexandre Lotfi who will return to Singapore to continue his existing role as global chief risk officer.
Vikram Malhotra, who previously oversaw the business growth of the DIFC branch from Singapore, will now focus on expanding coverage of the non-resident Indian segment across Asia as global market head of South Asia.
Regional Focus
According to Bank of Singapore, it has seen «robust growth» in assets under management from clients in the Middle East market which has a preference for Singapore as their hub of choice in Asia. The bank currently has more than 100 staff focused on the segment.
«The Middle East has always been an integral market for us, one in which we have invested significantly by hiring local talent and enhancing technology and infrastructure to continuously improve our proposition for clients in the region,» said Moo.
«With two separate hubs in DIFC and Singapore now driving our global South Asia and Middle East business, led by [Khanna] and [Malhotra], respectively, this underpins the importance of the region to the bank, and reinforces our commitment to grow the business by ensuring strong leadership on the ground.»
