Bank of Singapore, the private banking unit of OCBC, has reached US$100 billion in AUM, 2 years ahead of the target date. The bank said it is aiming to manage US$500 million each over the next 4 years to touch US$200 billion in AUM and it is deploying some 400 bankers for the purpose. The bank is, however, wary of market conditions that may temper growth in the years ahead, the bank’s chief executive Bahren Shaari, said. The bank is also earmarking substantial amounts for technology investments to raise efficiency, he added, stating the amount for this investment would be in the range of S$200 million. The technology investment will go towards creating more personalized content for the bank’s clients.
