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RETAIL BANKING | Staff Reporter, Singapore

Bank of Singapore to hire more relationship managers

It added 20 relationship managers in Hong Kong this year.

Bank of Singapore, which recently broke into the ranks of Asia’s top 10 private banks, intends to keep hiring more relationship managers and focus on serving a wealthier bracket of customers to keep expanding its assets under management, a report from Bloomberg said.

The unit of Oversea-Chinese Banking Corp. added 20 relationship managers in Hong Kong this year, taking its total to slightly more than 400, Chief Executive Officer Bahren Shaari said in an interview on Wednesday. The minimum amount a client must keep with the firm to qualify for its private-banking services will eventually be raised to $5 million in a few years’ time, from $2 million currently, he said.

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