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Bank of Singapore clients can now book assets in Switzerland
BANK of Singapore announced on Monday that it has entered into a first-of-its-kind strategic cooperation agreement with Swiss banking group, Bank Vontobel AG.
This arrangement will allow its Asian ultra-high and high net worth clients to open an account with Vontobel to place their assets in the Swiss wealth manager's Zurich booking centre. Clients will have the option of choosing Vontobel or Bank of Singapore to manage their assets booked in Zurich.
Olivier Denis, global market head of Singapore, international, Thai & Indo-China at Bank of Singapore, said: "This agreement is designed to meet increasing interest from Asian clients to have their assets in custody in Switzerland on top of our current booking centres in Singapore and Hong Kong."
He added that with this new capability, Bank of Singapore will be one of the few Asian private banks to be able to offer booking services for its clients in three global financial hubs: Singapore, Hong Kong and Switzerland.