SINGAPORE & HONG KONG & LONDON & LUXEMBOURG & DUBAI--(BUSINESS WIRE)--Bank of Singapore, the private banking arm of Southeast Asia’s second largest financial services group OCBC Bank, officially launched its wealth management subsidiary, BOS Wealth Management Europe S.A. (“BOSWM”) that further positions Bank of Singapore to capture opportunities in Europe.
This ushers in a new growth phase to its presence in Europe which has the largest population of ultra-high net worth individuals in 2018 worldwide - 35% of the global population - with an expected increase of 24% over the next five years1.
Heading the Luxembourg-headquartered subsidiary is Chief Executive Officer Mr Anthony Adriano Simcic. Ms Liz Bottomley is the General Manager of the UK branch of BOSWM, based in London, reporting to Mr Simcic.
BOSWM presently has 30 employees across its Luxembourg and London offices and plans to continue hiring strategically.
On 1 April 2019, BOSWM held the official opening of the business in Luxembourg, officiated by the Finance Minister of Luxembourg Mr Pierre Gramegna. Singapore’s High Commissioner to the UK Ms Foo Chi Hsia graced the opening of BOSWM’s UK branch in London on 2 April 2019.
Mr Samuel Tsien, the Group Executive Officer of Bank of Singapore’s parent company, OCBC Bank, Ching Wei Hong, Chief Operating Officer of OCBC Bank and Chairman of Bank of Singapore, and Bahren Shaari, Chief Executive Officer of Bank of Singapore, as well as 400 guests were present at both events.
Commenting on the official launch of BOSWM, Bank of Singapore Chief Executive Officer, Mr Bahren Shaari, said, “This is an important milestone for Bank of Singapore. Europe has always been an integral part of our business. The setting up of BOS Wealth Management Europe in two leading financial hubs further deepens our commitment to serving the ultra-high and high net worth individuals in this region.”
Luxembourg’s Minister of Finance, Mr. Pierre Gramegna, said, “The launch of BOS Wealth Management Europe is an important occasion. It is the first Singapore financial institution to establish a presence in Luxembourg. The fact that Bank of Singapore has chosen to set up its European hub in the Grand Duchy confirms Luxembourg’s role as one of Europe’s leading wealth and asset management centres.”
Prior to the set-up of BOSWM, Bank of Singapore had been serving its European clients from its Singapore headquarters and through its parent company OCBC Bank’s London office.
Details of Key Appointment Holders
Mr Anthony Simcic
Chief Executive Officer (CEO), BOS
Wealth Management Europe S.A.
Mr Simcic was appointed Chief Executive Officer on 12 March 2018. A French-Italian, he has 20 years of banking and asset management experience.
As CEO, he is responsible for the overall strategy, governance, commercial development and implementation of BOSWM’s activities in the European Economic Area and the United Kingdom.
Prior to joining BOSWM, Mr Simcic was the Managing Director of HSBC Private Bank in Luxembourg.
Reporting directly to Bank of Singapore’s Global Market Head for Singapore, Malaysia and International Mr Olivier Denis, Mr Simcic holds a Master’s Degree in European Studies from the London School of Economics and Political Science as well as a Bachelor’s Degree (Hon) in Economics from the University of Warwick.
Ms Liz Bottomley
General Manager, BOS Wealth Management
Europe S.A. – UK branch
Ms Bottomley was appointed General Manager of BOS Wealth Management Europe S.A. – UK Branch on 2 January 2019, having joined the London branch of OCBC Bank in November 2018. An industry veteran, Ms Bottomley has been advising private clients for over 25 years in Europe and Asia.
As the General Manager of the UK branch, she is responsible for growing the business for BOSWM in the UK. Ms Liz reports to the Chief Executive Officer of BOS Wealth Management Europe S.A. Mr Anthony Simcic.
Ms Bottomley was previously the Head of Private Banking at Arbuthnot Latham, a boutique private bank in London and a Client Partner with Coutts’s International Private Banking Division.
About Bank of Singapore
Bank of Singapore is the dedicated private banking subsidiary of OCBC Bank. It has a strong Aa1 credit rating from Moody’s and offers a unique value proposition as a safe Singapore-registered private bank.
It operates on an open-architecture product platform and has strong research capabilities, especially in emerging market research, to help its clients make the right decisions for fixed income, equities and money market investments as well as portfolio management, trust and insurance services. Over the years, it has built Managed Investments capabilities and premium trust and advisory services, supported by one of the largest research teams in Asia.
Beyond private banking services, clients of Bank of Singapore have access to personal and business banking services, as well as investment opportunities offered by OCBC Bank or its subsidiaries.
It is able to leverage OCBC Bank’s commercial banking capabilities to extend its clients a broad array of consumer and corporate banking, corporate finance and treasury services across the OCBC Bank’s regional and international network.
Bank of Singapore serves high net worth individuals and wealthy families in its key markets of Southeast Asia, Greater China, Philippines, India Sub-Continent and other International markets. Headquartered in Singapore, Bank of Singapore has branches in Hong Kong and Dubai International Financial Centre, with representative offices in Manila and Dubai. In Europe, the bank serves clients through BOS Wealth Management Europe Société Anonyme (S.A.) in Luxembourg and London.
Its strong performance has won it numerous industry recognitions. Bank of Singapore was named the Best Private Bank for Middle East and North Africa by Asian Private Banker in 2018 and Best Private Bank for Non-resident Indians in 2017 by Asian Private Banker.
For more information, please visit www.bankofsingapore.com.
For all updates on Bank of Singapore, follow @bankofSG on twitter and “follow” linkedin.com/bankofsingapore on LinkedIn.
About OCBC Bank
OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC Bank is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.
OCBC Bank and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.
OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has more than 570 branches and representative offices in 19 countries and regions. These include over 300 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and more than 100 branches and offices in Hong Kong, China and Macao under OCBC Wing Hang.
OCBC Bank’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals.
OCBC Bank's insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia.
For more information, please visit www.ocbc.com.
1 According to Knight Frank’s 2019 Wealth Report
