Bank of Singapore targets Dubai’s private wealth market

The Bank of Singapore is planning to add 25 private bankers in its Dubai office as a part of a campaign to target non-resident Indians and affluent Middle East investors, according to Reuters.

The bank, the private banking division of Singapore’s biggest lender OCBC, has seen its assets under management in Dubai rise by 30% since launching just over a year ago and it anticipates a further rise of around 20% in 2018.

Vikram Malhorta, the bank’s global market head for South Asia and Middle East, told Reuters that its ambition is to be “one of the larger players in the region” and it is “well placed to achieve that”.

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