BOS aims to double AUM growth

Bank of Singapore did some spring cleaning and upgrading last year and growth is back on track, its CEO tells SIOW LI SEN

Published Sun, Mar 9, 2014 · 10:00 PM

FOLLOWING three years of strong growth, Bank of Singapore (BOS) spent 2013 spring cleaning and upgrading its back-office operations - but, growth is now back in focus, says chief executive Renato de Guzman.

For 2014, BOS is aiming to grow assets under management (AUM) by 15 per cent, almost double that of last year, said Mr de Guzman.

Its AUM rose 8.0 per cent in 2013 - slower than the previous three years of double-digit gains, as the bank turned its attention to building up its infrastructure and weeding out clients whose AUMs fell below US$1 million.

"We have to go back to 15 per cent growth," its CEO said.

"Asia is still the sweet spot for private banks and that's wher…

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