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Bank of Singapore ties up with India's Edelweiss to tap wealth market

Bank of Singapore will offer a range of global investment services to Edelweiss' clients abroad, while Edelweiss will provide wealth and investment products services to Bank of Singapore's customers

Reuters  |  SINGAPORE 

Wealthy investors re-thinking realty exposure, favour equities instead

of Singapore, one of Asia's biggest private banks, is partnering with diversified Indian firm Group to allow clients of both entities to tap into their respective product platforms.

As part of a memorandum of understanding, of will offer its wide range of global investment services to Edelweiss' clients abroad, while will provide wealth and investment products services to of Singapore's customers, the companies said in a joint statement.

"This partnership represents a milestone in our business strategy to tap into India's growth," Bahren Shaari, of Bank of Singapore, said in the statement.

Edelweiss, one of India's leading wealth and asset managers, has assets under management of over $25 billion. Bank of Singapore, a unit of Singapore's second-largest listed lender Oversea-Chinese Banking Corp, has assets under management of $105 billion as at Sept. 30, 2018.

Bank of Singapore, which has more than 80 bankers serving non-resident Indian (NRI) clients from Singapore, and Hong Kong, has seen increased interest from this segment to tap into India's investment opportunities.

 

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, February 14 2019. 11:00 IST
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