Edelweiss, Bank of Singapore sign MoU for strategic partnership

Edelweiss Group Thursday said it has signed a memorandum of understanding (MoU) with Bank of Singapore to form a strategic partnership to provide clients of both entities the opportunity to access their respective product platforms.

"This is the first time that an Indian wealth manager of Edelweiss' size and stature is partnering with an offshore private bank," Edelweiss Financial Services said in a BSE filing.

Bank of Singapore had previously signed similar strategic partnerships with two financial institutions one from Japan and another from Switzerland.

Shares of Edelweiss Financial Services were trading 2.94 per cent lower at Rs 123.80 apiece on BSE.