Bank of Singapore has officially launched its wealth management subsidiary, BOS Wealth Management Europe S.A. (“BOSWM”), headquartered in Luxembourg.

Bank Singapore, the private banking arm of Southeast Asia’s second largest financial services group OCBC Bank, recently launched BOSWM in attempts to capture greater 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- with an expected increase of 24% over the next five years.

Heading the Luxembourg-headquartered subsidiary is Chief Executive Officer Anthony Adriano Simcic. 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 Luxembourg Minister of Finance Pierre Gramegna.