Bank of Singapore (BOS), the private banking unit of OCBC Bank, has named Kelvin Teo as the head of bespoke investments for its Greater China and North Asia operations.
Teo most recently worked as the Hong Kong-based director of equity capital markets at Credit Suisse.
In the new role, he will operate out of Hong Kong.
He will report to BOS Hong Kong branch CEO and global market head for Greater China and North Asia Derrick Tan and global head of UHNW bespoke investments Carolyn Tham.
The latest appointment comes amid a rise in the number of BOS’ UHNW clients. This number is said to have increased two-fold since 2017.
Assets under management from this customer segment are said to have surged by nearly 40% since the same period.
Tan stated: “We have seen an increase in demand for sophisticated product offerings and financial solutions among ultra-high net worth clients.
“To serve this demand, we are dedicated to growing a strong team to provide tailor made wealth management solutions to match our clients’ sophisticated level of investment needs.
“We are pleased to have Kelvin on board to lead these efforts in Hong Kong, focused on our ultra-high net worth clients. His extensive experience and leadership qualities will lend strength to our team as we continue to grow and deepen our market share in the Greater China region and enhance the quality of our services to our clients.”
BOS managed $111bn in assets at the end of June 2019.
Earlier this year, BOS appointed Richard Hu as the market head for Greater China.