Singapore, Nov 2025 – Bank of Singapore plans significant investment in hiring and technology to reach Asia’s top five private banks within five years, CEO Jason Moo said. Assets under management (AUM) rose nearly 20% to $145 billion in Q3, up from $120 billion in early 2023, despite raising its minimum account size to $5 million.

The bank increased relationship managers from 400 to 500, with hiring expected to accelerate in 2026. It plans bespoke products for clients with $100 million+ in assets and is developing proprietary asset allocation technology to incorporate local currencies and insurance holdings.

Hong Kong, its largest office outside Singapore, has already exceeded its 2026 AUM growth target a year early, while Dubai remains a priority, aiming to represent 20% of AUM by 2027, with a potential booking centre under consideration. The bank seeks to leverage OCBC’s regional network for an integrated onshore-offshore private banking platform.