OCBC-owned Bank of Singapore has hired more than a dozen relationship managers in 2023 as part of broader plans grow the total to 500.
Bank of Singapore has been rapidly expanding in 2023 with the hire of around 20 relationship managers for China and Southeast Asia alone, according to Helen Wong, CEO of parent group OCBC, during a media briefing. The Singapore private bank also has plans to expand its offering in areas such as alternatives and fixed income mandates.
Aside from enlarging its front office and product offering, Bank of Singapore has also seen client growth. This includes, most notably, the addition of more trust and family office accounts this year, Wong noted at the results briefing attended by finews.asia.
The expansion is part of broader plans by OCBC to deliver S$3 billion ($2.2 billion) in incremental revenue by 2025. For its private banking arm, growth targets include increasing assets under management to $145 billion and expanding its team of relationship managers to 500 during the same period.
