Singaporean based private bank The Bank of Singapore, announced management changes that reflect its target of capturing a larger portion of the lucrative Greater China wealth market.
Following the acquisition of Barclays Wealth Asian units and as the bank scales up to take on the next phase of growth in the region, it has implemented a number of organizational changes.
Chief executive Sermon Kwan, who has held twin roles, CEO of Bank of Singapore's (BoS) Hong Kong branch and global market (GM) head for Greater China, will focus solely on his Hong Kong chief executive role.
Derrick Tan, currently the bank’s head for Malaysia, Brunei, Japan, Sub-Continent and Middle East, at BoS will take on the responsibilities of the GM head from Kwan.
Push Into North Asia
Tan will push the bank’s growth in Greater China, and work with BoS partners OCBC Wing Hang and Bank of Ningbo. He will also be the GM head of Japan.
In addition to the Indonesian and Philippines markets Robin Heng will take on and manage the Thai and growing IndoChina markets.
Vikram Malhotra becomes the GM head responsible building growth in Sub Continent, Middle East and North Africa out of Singapore and the recently opened Dubai office.
In addition to covering the Singapore and International markets, Olivier Denis will now also take responsibility for the Malaysia market.
