Winners rationale

Catering to the dynamic and cross-jurisdictional needs of the global Indian diaspora is a business that only a handful have been able to execute well. In 2019, thanks to its evolved investment products and continuous engagement with the client segment, Bank of Singapore became the bank of choice for this sophisticated demographic group. A pure-play by nature and multi-jurisdictional in practice, the Singaporean private bank was able to forge partnerships and bring the strength of its capabilities into full play to provide holistic wealth management services to Indians dotted around Asia and beyond.

Bank of Singapore was able to offer its global Indian clients a holistic range of investment choices leveraging on the Asian network of parent group, OCBC, such as corporate finance solutions, pre-IPO and direct investment opportunities in household brands. Further diversifying its investment product shelf, Bank of Singapore established several strategic partnerships with external asset managers.

Globally, the private bank counted a team of more than 80 bankers, spread across Singapore, Hong Kong and, Dubai — hubs where global Indians traditionally bank. It continued to grow with new experienced hires while retaining key talent. Despite its expanded presence, the private bank managed to operate in a lean manner, with an improvement in an already robust cost/income ratio coupled with strong growth in AUM over the past five years.

The private bank interacted with its clients through a diverse range of sports, cultural and lifestyle events that resonated well with the clients including next gen events.

Combining its global presence with a vast array of products served by sophisticated relationship managers, Bank of Singapore has outshone its competitors in a toughly contested arena.

Bank of Singapore is Asian Private Banker’s Best Private Bank – Global Indians for 2019.