Bank of Singapore, latest, news Headlines - THE business times

The bank ranked seventh among Asias largest private banks in 2016, according to data compiled by Asian Private Banker. That offers the advantage that the offices wont pay Singapore tax on most of its investment gains, according to Shaari. Dubai is second only to Singapore as an offshore destination for Indian wealth, according to Capgemini.

Bank of Singapore, seeks to Expand Its Family Office

About 22 percent of their overseas assets went to the Southeast Asian nation in the second quarter, with 14 percent going to Dubai and 13 percent to London, the research firm said in a November report. Simcic will remain in the European city, which will be used as a base in addition to London. All of the clients inherited from Barclays are still here and growing, said Malhotra, who headed South and Southeast Asian wealth operations when he was at the.K. Vikram Malhotra, photographer: Wei Leng Tay/Bloomberg, bank of Singapore opened a Dubai branch in February, and currently has about 45 wealth managers in the city, which serves as a regional financial hub for the oil-rich Persian Gulf region.

Bank of Singapore completes acquisition of Barclays

Please upgrade your browser. Bank of Singapores assets under management rose to 100 billion in February, after increasing an average 21 percent each year over the past five years. To help expand its wealth and family office business in Europe, Bank of Singapore hired Mr Anthony Adriano Simcic this month from hsbc Private Bank in Luxembourg. Singapore family offices had average assets under management of 857 million in 2017, nearly double the Asia-Pacific average of 445 million, according to a survey of 262 such offices in a UBS/Campden report. Two former senior Barclays employees have been appointed members of the BOS management committee.

Bank of Singapore, hires Private Bankers for Mideast Wealth

Most of the additions will be based in Dubai, though some will be located in Singapore and Hong Kong to bolster the banks non-resident Indian teams in those cities, Malhotra said in an interview last week. Until we resolve the issues, subscribers need not log in to access ST Digital articles. To help expand its wealth and family office business in Europe, Bank of Singapore hired Anthony Adriano Simcic this month from hsbc Private Bank in Luxembourg. At the time of completing the acquisition last year, Bank of Singapore said it would gain more than 60 relationship managers from Barclays, bringing the total at the private bank to about 400. The expansion will be spearheaded by Mr Lee Woon Shiu, a managing director who currently looks after Bank of Singapore's wealth planning and trust solutions, Mr Shaari said.

Bank of Singapore - Official Site

BOS said: "With an already large AUM base of US62 billion as at Sept 30, 2016, the additional AUM brings the total AUM for Bank of Singapore to more than US75 billion. While the bank doesnt plan to substantially increase the number of relationship managers it employs from about 400 now, it aims to double assets under management to 500 million per banker over the next three to four years, he told Bloomberg TV on Friday. Bank of Singapore also plans to open a new Taiwan unit to tap ocbcs onshore presence.

Bank of Singapore : Latest, news., the Economic Times

About 15 former Barclays wealth managers joined Bank of Singapore in Dubai, Malhotra said. But a log-in is still required for our PDFs. We are seeing increasing demand for families moving into the next generation to set a proper structure in place to manage family wealth, Chief Executive Officer Bahren Shaari said in an interview Thursday.

Bank of Singapore to grow family office business, Banking

Singapore-based Vikram Malhotra and Hong Kong-based Andrew Sum came on board as global market heads. On Monday, it said the purchase price - which was set.75 per cent of the assets under management (AUM) transferred upon completion - is now at US227.5 million, because not all of Barclays' private banking clients in Hong Kong agreed to a transfer. With assistance by Haslinda Amin, and David Ingles (Updates with detail on AUM in fourth paragraph.).