OCBC unveils next-generation programme for wealthy customers

An estimated $2.5t in intergenerational wealth will be passed to the next gen by 2030.

OCBC has launched OCBC GENesis for the children of its Premier Private Client (PPC) customers.

OCBC GENesis is an invitation-only programme aimed at fostering banking relationships with the next generation of OCBC’s high and ultra-high net worth (HNW and UHNW) clients. This comes as an estimated $2.5t in intergenerational wealth is expected to be passed to the next generation in Asia by 2030.

The launch follows the footsteps of a next-generation programme rolled out by Bank of Singapore, the private banking arm of OCBC.

To start, OCBC kicked off the inaugural run between July 17-19, bringing together 21 participants aged 18-25 who are Singaporeans, Malaysians, Indonesians, Chinese or Australian. They comprise students and those who had just started work recently, with a number working in their family businesses.

During the event, participants took a personal profiling assessment to understand how they best interact with others; learned about the basics of investing and legacy planning; and underwent a crash course in design thinking to solve problems innovatively, according to OCBC.

The participants also visited Mastercard to discuss the future of payments.

They also met third-generation business owners such as Winnie Chan and James Quan of luxury leather and stationery brand Bynd Artisan, and wine merchant Clinton Ang of CornerStone Wines, who shared about the opportunities and challenges in innovating and furthering a family business.

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