BANK OF SINGAPORE BOLSTERS ITS GREATER CHINA BUSINESS WITH THREE NEW SENIOR HIRES

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1 Media Release Includes suggested Tweets, Facebook posts, keywords and official hashtags BANK OF SINGAPORE BOLSTERS ITS GREATER CHINA BUSINESS WITH THREE NEW SENIOR HIRES Singapore/ Hong Kong, 19 July 2018 With the Greater China region holding close to one-fifth of the world s ultra-high net worth wealth 1, Bank of Singapore has affirmed its commitment to this region by bringing on board three industry veterans. Based in Hong Kong, the new hires are Market Heads, Ms Phonda Chan (seated in front, left) and Ms Anne Song (seated in front, right), as well as Head of Risk, Ms Jacqueline Lee (far right). Together with the recent hiring of Ms Angel Wu, Head of Product Management Group, (standing, left) and Ms Teresa Lee, Market Head, (seated, middle) there are now 11 women helming 17 leadership positions in the branch. The other two women in the photo are Head of Operations, IT & Finance Cindy Wong (far left) and Head of Human Resources Winnie Tam (standing, right). 1 BCG Wealth Report 2018 BCG Global Wealth Market Sizing Database 1

2 The three newest hires, who come with extensive banking experience in the region, will report directly to Mr Derrick Tan, Chief Executive of Bank of Singapore Hong Kong Branch and Global Market Head for Greater China and North Asia. The Greater China region one of Bank of Singapore s three core markets has been a key contributor to the strong growth of the private banking arm of OCBC Bank. As at 31 March 2018, Bank of Singapore s assets under management (AUM) from this region grew more than 20% in the last 12 months. AUM per client similarly went up by more than 25% in the same period. Strategic hires to capture further sustainable growth Ms Phonda Chan joined as Managing Director and Market Head on 5 July She leads a newly-assembled team of relationship managers to cultivate and maintain client relationships in Hong Kong as well as capitalise on new business opportunities. Prior to joining Bank of Singapore, this 26-year banking veteran was a Managing Director at LGT Bank, leading a team of relationship managers serving ultra-high and high net worth clients in the Greater China region. She holds a Bachelor s Degree in Arts from the University of Toronto. Ms Anne Song commenced her role as Managing Director and Market Head on 19 June Focusing on the offshore Taiwan market, Ms Song leads a new team of relationship managers to develop and maintain client relationships as well as capitalise on new business opportunities. A seasoned private banker with over 20 years of experience, Ms Song has held various management roles in multinational banks such as Julius Baer and Standard Chartered Bank. Before joining Bank of Singapore, Ms Song was a Managing Director and Country Team Head, Taiwan at UBS Wealth Management. She holds a Diploma in Polymer Science and Business Studies from Singapore Polytechnic. Ms Jacqueline Lee joined as Executive Director and the branch s Head of Risk on 2 May She will drive the risk management function in the branch, further strengthening its strong risk culture. 2

3 Prior to joining Bank of Singapore, she worked in other multinational private banks such as BNP Paribas Wealth Management, UBS AG and Coutts & Co. She holds a Master in Business Administration from Manchester Business School. Hong Kong Branch Chief Executive and Global Market Head for Greater China and North Asia, Mr Derrick Tan, said a potential employee s talent and proven track record are still the key considerations when hiring. He said, Studies have shown that companies with more women leaders perform better overall. However, when we assess a candidate, what matters most is that they are capable and are a good fit for our team. We also recognise that it is important to hire locals who have a keen understanding of our key markets in the Greater China region. While we expand our front-office team, we are also strengthening our other key functions such as risk management. Our new colleagues all have years of experience and are some of the most respected in their various fields. Phonda, Anne and Teresa have very strong expertise and acute knowledge of the nuances and sensitivities when it comes to wealthy Chinese families across our various markets. I believe they would greatly strengthen our push to capture a larger share of the private wealth market in the Greater China region. Mr Tan added, Hong Kong is one of the most important international financial centre in the Asia-Pacific region. The fund flows in the Greater China region continue to increase every year and we want to position ourselves to capture that flow. SOCIAL MEDIA ASSETS Official hashtags: #bankofsingapore #HongKong #china #taiwan #wealthmanagement #privatebanking Keywords: Bank of Singapore, Hong Kong, Taiwan, wealth management, private banking Suggested tweet: Bank of Singapore hires three new employees, in key leadership roles for Hong Kong branch. Suggested Facebook post: Bank of Singapore hires three new employees in key leadership roles for Hong Kong branch. For all updates on Bank of Singapore, on twitter and follow linkedin.com/bankofsingapore on LinkedIn. 3

4 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. Its strong performance has won it numerous industry recognitions. In 2017, Bank of Singapore was named the Best Private Bank in Singapore (for the sixth time) by Asian Private Banker and Best Private Bank for entrepreneurs in Asia-Pacific by Global Finance. It was also named the Outstanding Private Bank in South East Asia for three years (2014, 2016 and 2017) by Private Banker International. For more information, please visit 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 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. 4

5 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 580 branches and representative offices in 18 countries and regions. These include over 310 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 For media queries, please contact: Finsbury Gladys Tang Tel: (852) / Gladys.Tang@Finsbury.com Nonie Cheng Tel: (852) / Nonie.Cheng@Finsbury.com Bank of Singapore Ben Nadarajan Assistant Vice President Group Corporate Communications OCBC Bank Tel : (65) HP : (65) bennadarajan@ocbc.com Ow Yong Weng Leong Vice President Group Corporate Communications OCBC Bank Tel : (65) HP : (65) wengleong@ocbc.com 5

6 Appendix Biography of new hires Ms Phonda Chan ( 陳玉明 ) Market Head Date joined: 5 July 2018 Phonda graduated from the University of Toronto in Canada with a bachelor of arts, majoring in commerce. She has 26 years of banking experience, of which the last 21 have been in private banking. She started out in 1992 with Standard Chartered Bank in Hong Kong and went on to DBS Private Bank, ABN AMRO Private Bank and LGT Bank. At Bank of Singapore, she will lead a team of RMs servicing mainly Hong Kong and China clients. Ms Anne Song ( 宋怡欣 ) Market Head Date joined: 19 June 2018 Anne is a Singaporean who moved to Hong Kong 30 years ago with her husband. She holds a diploma in Polymer Science and Business Studies from Singapore Polytechnic and spent the first 10 years of her career in marketing and public relations roles. Anne joined the private banking industry in 1997 and has worked at the likes of CitiBank, ABN AMRO, Julius Baer and UBS Wealth Management. At Bank of Singapore, she is responsible for growing the bank s Taiwan market. Ms Jacqueline Lee ( 李樹平 ), CFA, ACCA Head of Risk Date joined: 2 May 2018 Jacqueline has been in corporate banking and credit risk for 20 years. She graduated from the Manchester Business School with a Masters in Business Administration and has an honours in finance from the City University of Hong Kong. Before joining Bank of Singapore, she worked with Jardine Fleming, HSBC Private Bank, UBS AG, Coutts & Co and BNP Paribas Wealth Management. As Head of Risk, she oversees the branch s risk appetite and framework and ensure conformance to regulations in Hong Kong and Singapore. She will cultivate a high standard of risk awareness among all branch staff. 6

7 Ms Angel Wu ( 胡傑盈 ), CFA, CFP, FRM Head of Product Management Group Date joined: 5 September 2017 After graduating from the University of Hong Kong with a Bachelors in Economics, Angel joined the banking industry as a research analyst and worked her way up to Head of Special Products, Private Banking (Hong Kong), and Head of Product & Solutions, Private Banking (Asia & Middle East), at ABN AMRO. At Bank of Singapore, Angel spearheads the marketing and development of products and solutions for our clients in Hong Kong and Greater China. Ms Teresa Lee ( 李凱琳 ) Market Head Date joined: 30 March 2017 Teresa s career in wealth management has spanned more than 20 years. She has worked in CitiGroup, ABN AMRO and Standard Chartered Private Bank and led teams servicing wealthy clients in Hong Kong and China. In 2006, her performance as a private banker and leadership capabilities were recognised with the Outstanding Young Private Banker award by Private Banking International. Teresa graduated from the University of Technology in Sydney with a Bachelor of Business Administration (double major in management and marketing). At Bank of Singapore, she heads a team of RMs with clients in Greater China and North Asia. 7

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