Bank of Singapore eyes hiring, tech to expand assets

SINGAPORE: Bank of Singapore plans more investment in hiring and technology as it aims to climb into Asia’s top five private banks within five years after assets under management rose nearly 20% to exceed US$145 billion in the third quarter, chief executive Jason Moo said.

Asia’s wealth surge anchors the push. Global high-net-worth individual wealth rose 4.2% in 2024, while Asia-Pacific’s climbed 4.8%, second only to North America, according to Capgemini’s world wealth report.