Bank of Singapore Adds Deutsche Bank Veteran to Greater China Team
Bank of Singapore has hired a senior private banker from Deutsche Bank Wealth Management as it continues to build out its Greater China and North Asia franchise. The appointment comes as the private bank targets significant growth in assets from ultra-high-net-worth clients.
Bank of Singapore has appointed Penny Low as a Senior Relationship Manager, according to a statement on Wednesday.
Based in Singapore, Low joins the bank's Greater China & North Asia (GCNA) team, led by Eng Chien Chan, Market Group Head for GCNA.
Low brings nearly two decades of experience across private and investment banking. She joins from Deutsche Bank Wealth Management, where she served as a Senior Relationship Manager advising ultra-high-net-worth (UHNW) individuals and entrepreneurs on both personal wealth and corporate needs.
Before joining Deutsche Bank, Low spent nine years at Credit Suisse Global Markets, working in its multi-asset solutions team.
UHNW Growth Ambitions
The appointment comes as Bank of Singapore seeks to expand its business with the region's wealthiest clients. The private bank is targeting a 30 percent increase in assets under management from the UHNW segment by 2028.
Its private banking leadership across key regions is spearheading that push. Vi Sun Yang oversees ASEAN, Rickie Chan Greater China & North Asia, while Lim Leong Guan is responsible for the Middle East, South Asia & International business.
Low's combination of investment banking experience and established client relationships is expected to support those ambitions, particularly within the Greater China and North Asia franchise.
Building Out Greater China Franchise
The hire also forms part of Bank of Singapore's broader investment in its GCNA business, as competition among private banks for wealthy and ultra-wealthy Asian clients remains intense.
Over the past year, the bank has strengthened both its leadership ranks and relationship management teams across Singapore and Hong Kong.
Low's arrival adds another experienced banker to that expansion drive as Bank of Singapore seeks to deepen its coverage of UHNW clients and accelerate growth across its key Asian markets.
