Bank of Singapore

Bank of Singapore

Type	Subsidiary
Industry	Private banking and wealth management
Predecessor	ING Asia Private Bank
Founded	Singapore (January 29, 2010 (2010-01-29))
Headquarters	Singapore
Key people	Bahren Shaari (CEO)
Products	Wealth management, financial analysis, investment
AUM	USD 51.1 billion (2014)[1]
Number of employees	850
Parent	OCBC Bank
Website	www.bankofsingapore.com

Bank of Singapore (Chinese: 新加坡银行; pinyin: Xīnjiāpō yínháng) is a Singapore based private banking arm of OCBC Bank. Formerly known as ING Asia Private Bank, it was acquired by OCBC in 2009 from ING Group for US$1.46 billion.^[2] At the end of 2010, the bank was managing approximately US$32 billion of assets of high-net-worth individuals, mainly in Asia. Bank of Singapore is rated Aa1 by Moody's.

History

The bank was formed in 2010 by the acquisition of ING Asia Private Bank by OCBC in 2009, as a result of ING's restructuring plan, following a government bailout of ING Group in 2008,^[3] due to the financial crisis in the late 2000s. Its current headquarters, the Bank of Singapore Centre at Market Street, was officially opened on June 2011. Since then, the bank has been strengthening its position in the Asia Pacific region.^[1]

Services

The bank provides customised wealth management, investment and lending services, on top of general banking services provided by its parent bank, OCBC. It also offers financial analysis in financial areas such as international equities and estate planning services.

Awards

2011

• Outstanding Private Bank in Asia Pacific by Private Banker International
• Best Private Bank in Singapore by FinanceAsia
• Best Wealth Management Bank in Southeast Asia and Singapore by Alpha South East Asia
• Top 3 private banks in Singapore by Asiamoney.

References

External links

• Bank of Singapore's website

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