SINGAPORE, June 12 - Bank of Singapore, the private banking arm of lender OCBC, plans to grab a bigger share of the fast-growing family office business by expanding its investment products and targeting clients outside the region, its CEO said.
"The family office is a big segment, not only from China but also from the Middle East as well as other parts of the world," Bahren Shaari told Reuters in an interview. Incentives offered by Singapore to set up such private investment vehicles has boosted demand for services by wealthy individuals in the Middle East and other places.
"There is a big interest in private markets. We make sure we have a complete offering on hedge funds, private equity, direct investments and real estate. That has grown quite a fair bit over the last one year."