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Bank of Singapore gets regulatory nod to launch Luxembourg unit

BANK of Singapore (BOS), the private banking arm of OCBC Bank, has been granted a licence to operate a wealth management subsidiary in Luxembourg, Western Europe, in what it claims is a first for a Singapore private bank. Through its new unit, BOS Wealth Management Europe Soci�t� Anonyme (SA), BOS will be able to offer customised private banking solutions and investment advisory services to its ultra-high, and high net worth clients within...


StanChart Singapore names Patrick Lee as its new CEO

STANDARD Chartered Bank has appointed veteran banker Patrick Lee as chief executive officer of the bank in Singapore, it said on Monday. Mr Lee joined Standard Chartered in 2012, and his most recent position was head of global banking, Singapore, for which he will remain responsible until a successor is announced. The 46-year-old will be based in Singapore and will report to Judy Hsu, regional CEO, Asean and South Asia. Ms Hsu will hand over...


Net increase of 7,800 jobs in financial industry in last 2 years: MAS

THE number of net jobs created for Singapore's financial industry is set to exceed the 8,000 target by year end - and the nation is just halfway through its efforts to transform its financial industry. There was a net increase of 7,800 jobs in financial services and FinTech over 2016 and 2017, close to the target of 8,000 set under the five-year Industry Transformation Map (ITM) for the financial services sector, noted Ravi Menon, Monetary...


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