Bank of Singapore, the private banking arm of OCBC Group, is preparing for one of its most aggressive expansion phases yet as it sets its sights firmly on becoming one of the top five private banks in Asia within the next few years. With wealth creation accelerating across the region and competition intensifying, the bank is positioning itself to capture a larger share of high-net-worth and ultra-high-net-worth clients through strategic hiring, heavy investment in technology, and expansion into key financial hubs.

The bank’s momentum is backed by strong numbers. Over the past two years, Bank of Singapore has recorded an almost 20% jump in assets under management, rising from about US$120 billion in early 2023 to over US$145 billion by the third quarter of 2025. This surge came despite the bank increasing its minimum account threshold from US$3 million to US$5 million—an unusual move at a time when competitors were trying to lower barriers for client acquisition. Instead of slowing growth, the move reaffirmed the bank’s reputation as a specialist institution serving serious wealth.

This performance represents a structural, long-term opportunity for CEO Jason Moo. Driven by entrepreneurship, family businesses, expansion of capital markets, and the rise of new-economy wealth in areas such as technology and renewable energy, Asia remains the world’s fastest-growing region for wealth accumulation. As populations grow more affluent and the global footprints of UHNW families expand, demand for sophisticated cross-border wealth management is expected to rise sharply.

To keep pace with this changing market, the bank is focusing on two major pillars, namely people and technology.

One cornerstone of its strategy is the expansion of its relationship-manager base. Bank of Singapore currently has about 500 relationship managers, from roughly 400 in 2023. While hiring moderated in 2025, the bank has indicated that 2026 and beyond would see renewed focus on talent acquisition, particularly in bespoke advisory services, family-office structuring, and multi-jurisdictional wealth planning. The bank’s philosophy remains high-touch and personalized, something that becomes very valuable for UHNW clients who may have complex holdings, large real-estate portfolios, and multi-generational needs.

Complementing this people-first approach is a major investment in proprietary technology. Bank of Singapore has been working on new tools that allow deeper, more nuanced asset allocation-integrating such variables as local-currency exposures, insurance holdings, family-trust structures, and global diversification goals. This is increasingly relevant, as clients hold assets across multiple countries, which calls for one advisory framework that can unify their financial picture.

These technological improvements also reach the areas of predictive modelling, bespoke risk-assessment frameworks, and tools to assist the client in visualizing long-term outcomes from current investment decisions. Similarly, the bank is building specific product suites and advisory models for UHNW families whose assets exceed US$100 million, with a focus on dynasty-building, succession planning, and intergenerational wealth transfer.

But Bank of Singapore’s ambitions stretch a long way beyond its domestic base. One of its clearest priorities is Hong Kong, home to its largest office outside Singapore. The latter has already beaten its multi-year growth targets ahead of schedule, reflecting strong demand from its Greater China clients. The bank looks at Hong Kong not only as a gateway to China but also as a strategic location in tapping wealthy clients across North Asia.

Of equal importance, the bank is also expanding into the Middle East-in particular, Dubai. The city has emerged as one of the fastest-growing global centres of wealth for entrepreneurs, family offices, and expatriates. Bank of Singapore is already one of the top-ranked private banks present in Dubai, and it predicts that the region will account for approximately one-fifth of its total assets under management by 2027. Growth and regulatory conditions permitting, even a booking centre might be opened in the emirate as a symbol of long-term presence.

Bank of Singapore is equally committed to fostering a seamless onshore-offshore network with OCBC’s regional presence across Southeast Asia, Greater China, and South Asia, offering clients the option to manage both domestic and international wealth under a single roof. The integrated model is increasingly attractive to Asia-based families who operate businesses across borders and need sophisticated, multi-layered wealth strategies. Bank of Singapore’s aggressive expansion underlines a wider trend in Asian private banking: the shift from generic wealth management to highly customized, tech-enhanced, globally integrated advisory services. Building toward its goal of becoming a top-five player in the region, the bank is setting the stage for increased competition that might redefine the landscape for private banking across Asia.