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OCBC cites compliance burden as one reason to expand private bank

Thursday, November 3, 2016 - 05:50

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OCBC Bank's chief executive officer, Samuel Tsien, said surging compliance costs is one factor spurring him to expand his Asian wealth-management business, at a time when some overseas competitors are retreating.

Singapore

OCBC Bank's chief executive officer, Samuel Tsien, said surging compliance costs is one factor spurring him to expand his Asian wealth-management business, at a time when some overseas competitors are retreating.

That's because the rapidly expanding costs of complying

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