Maybank's private bank business bets on customer base

[SINGAPORE] Maybank Singapore is moving up - it may soon have its first Orchard Road outlet, which will be dedicated to its private bank clients.

Alvin Lee, who heads Maybank Private Wealth, said: "We are looking for a location to be a premier and private wealth outlet."

The bank, which has 22 branches in Singapore, may raise some eyebrows with its entry into the trillion-dollar private banking sector, given that it is known more for its reach among retail clients and small and medium-sized enterprises.