Bank of Singapore Officially Launches European Wealth Management Subsidiary

Bank of Singapore, the private banking arm of Southeast Asia’s second
largest financial services group OCBC Bank, officially launched its
wealth management subsidiary, BOS Wealth Management Europe S.A.
(“BOSWM”) that further positions Bank of Singapore to capture
opportunities in Europe.

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Bank of Singapore launched its European wealth management subsidiary BOS Wealth Management in Luxembourg and London to deepen its presence in the region which has the highest number of ultra-high net worth individuals globally. (L-R) BOS Wealth Management Chief Executive Officer Mr Anthony Simcic, Director General of Commission de Surveillance du Secteur Financier Mr Claude Marx, OCBC Group CEO Mr Samuel Tsien, Bank of Singapore CEO Mr Bahren Shaari, OCBC Bank Chief Operating Officer and Bank of Singapore Chairman Mr Ching Wei Hong, and Bank of Singapore Global Market Head for Singapore, Malaysia and International Mr Olivier Denis (Photo: BOSWM)

This ushers in a new growth phase to its presence in Europe which has
the largest population of ultra-high net worth individuals in 2018
worldwide - 35% of the global population - with an expected increase of
24% over the next five years¹.

Heading the Luxembourg-headquartered subsidiary is Chief Executive
Officer Mr Anthony Adriano Simcic. Ms Liz Bottomley is the General
Manager of the UK branch of BOSWM, based in London, reporting to Mr
Simcic.

BOSWM presently has 30 employees across its Luxembourg and London
offices and plans to continue hiring strategically.

On 1 April 2019, BOSWM held the official opening of the business in
Luxembourg, officiated by the Finance Minister of Luxembourg Mr Pierre
Gramegna. Singapore’s High Commissioner to the UK Ms Foo Chi Hsia graced
the opening of BOSWM’s UK branch in London on 2 April 2019.

Mr Samuel Tsien, the Group Executive Officer of Bank of Singapore’s
parent company, OCBC Bank, Ching Wei Hong, Chief Operating Officer of
OCBC Bank and Chairman of Bank of Singapore, and Bahren Shaari, Chief
Executive Officer of Bank of Singapore, as well as 400 guests were
present at both events.

Commenting on the official launch of BOSWM, Bank of Singapore Chief
Executive Officer, Mr Bahren Shaari, said, “This is an important
milestone for Bank of Singapore. Europe has always been an integral part
of our business. The setting up of BOS Wealth Management Europe in two
leading financial hubs further deepens our commitment to serving the
ultra-high and high net worth individuals in this region.”

Luxembourg’s Minister of Finance, Mr. Pierre Gramegna, said, “The launch
of BOS Wealth Management Europe is an important occasion. It is the
first Singapore financial institution to establish a presence in
Luxembourg. The fact that Bank of Singapore has chosen to set up its
European hub in the Grand Duchy confirms Luxembourg’s role as one of
Europe’s leading wealth and asset management centres.”

Prior to the set-up of BOSWM, Bank of Singapore had been serving its
European clients from its Singapore headquarters and through its parent
company OCBC Bank’s London office.

Details of Key Appointment Holders

Mr Anthony Simcic
Chief Executive Officer (CEO), BOS
Wealth Management Europe S.A.

Mr Simcic was appointed Chief Executive Officer on 12 March 2018. A
French-Italian, he has 20 years of banking and asset management
experience.

As CEO, he is responsible for the overall strategy, governance,
commercial development and implementation of BOSWM’s activities in the
European Economic Area and the United Kingdom.

Prior to joining BOSWM, Mr Simcic was the Managing Director of HSBC
Private Bank in Luxembourg.

Reporting directly to Bank of Singapore’s Global Market Head for
Singapore, Malaysia and International Mr Olivier Denis, Mr Simcic holds
a Master’s Degree in European Studies from the London School of
Economics and Political Science as well as a Bachelor’s Degree (Hon) in
Economics from the University of Warwick.

Ms Liz Bottomley
General Manager, BOS Wealth Management
Europe S.A. – UK branch

Ms Bottomley was appointed General Manager of BOS Wealth Management
Europe S.A. – UK Branch on 2January 2019, having joined the
London branch of OCBC Bank in November 2018. An industry veteran, Ms
Bottomley has been advising private clients for over 25 years in Europe
and Asia.

As the General Manager of the UK branch, she is responsible for growing
the business for BOSWM in the UK. Ms Liz reports to the Chief Executive
Officer of BOS Wealth Management Europe S.A. Mr Anthony Simcic.

Ms Bottomley was previously the Head of Private Banking at Arbuthnot
Latham, a boutique private bank in London and a Client Partner with
Coutts’s International Private Banking Division.

About Bank of Singapore

Bank of Singapore is the dedicated private banking subsidiary of OCBC
Bank. It has a strong Aa1 credit rating from Moody’s and offers a unique
value proposition as a safe Singapore-registered private bank.

It operates on an open-architecture product platform and has strong
research capabilities, especially in emerging market research, to help
its clients make the right decisions for fixed income, equities and
money market investments as well as portfolio management, trust and
insurance services. Over the years, it has built Managed Investments
capabilities and premium trust and advisory services, supported by one
of the largest research teams in Asia.

Beyond private banking services, clients of Bank of Singapore have
access to personal and business banking services, as well as investment
opportunities offered by OCBC Bank or its subsidiaries.

It is able to leverage OCBC Bank’s commercial banking capabilities to
extend its clients a broad array of consumer and corporate banking,
corporate finance and treasury services across the OCBC Bank’s regional
and international network.

Bank of Singapore serves high net worth individuals and wealthy families
in its key markets of Southeast Asia, Greater China, Philippines, India
Sub-Continent and other International markets. Headquartered in
Singapore, Bank of Singapore has branches in Hong Kong and Dubai
International Financial Centre, with representative offices in Manila
and Dubai. In Europe, the bank serves clients through BOS Wealth
Management Europe Société Anonyme (S.A.) in Luxembourg and London.

Its strong performance has won it numerous industry recognitions. Bank
of Singapore was named the Best Private Bank for Middle East and North
Africa by Asian Private Banker in 2018 and Best Private Bank for
Non-resident Indians in 2017 by Asian Private Banker.

For more information, please visit www.bankofsingapore.com.

For all updates on Bank of Singapore, follow @bankofSG on twitter and
“follow” linkedin.com/bankofsingapore on LinkedIn.

About OCBC Bank

OCBC Bank is the longest established Singapore bank, formed in 1932 from
the merger of three local banks, the oldest of which was founded in
1912. It is now the second largest financial services group in Southeast
Asia by assets and one of the world’s most highly-rated banks, with an
Aa1 rating from Moody’s. Recognised for its financial strength and
stability, OCBC Bank is consistently ranked among the World’s Top 50
Safest Banks by Global Finance and has been named Best Managed Bank in
Singapore by The Asian Banker.

OCBC Bank and its subsidiaries offer a broad array of commercial
banking, specialist financial and wealth management services, ranging
from consumer, corporate, investment, private and transaction banking to
treasury, insurance, asset management and stockbroking services.

OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and Greater
China. It has more than 570 branches and representative offices in 19
countries and regions. These include over 300 branches and offices in
Indonesia under subsidiary Bank OCBC NISP, and more than 100 branches
and offices in Hong Kong, China and Macao under OCBC Wing Hang.

OCBC Bank’s private banking services are provided by its wholly-owned
subsidiary Bank of Singapore, which operates on a unique
open-architecture product platform to source for the best-in-class
products to meet its clients’ goals.

OCBC Bank's insurance subsidiary, Great Eastern Holdings, is the oldest
and most established life insurance group in Singapore and Malaysia. Its
asset management subsidiary, Lion Global Investors, is one of the
largest private sector asset management companies in Southeast Asia.

For more information, please visit www.ocbc.com.

¹ According to Knight Frank’s 2019 Wealth Report

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