Rapid expansion in Asia has been cited as the primary mover in ABN Amro’s relocation of its regional headquarters for private banking in Sin...

Rapid expansion in Asia has been cited as the primary mover in ABN Amro’s relocation of its regional headquarters for private banking in Singapore to landmark development One Raffles Quay, effective from 11 September. Supporting a network of 13 Asian branches, ABN Amro Private Banking employs over 450 staff in Asia, having grown by 30 per cent in the region last year as a direct result of increased business performance. The bank expects assets under management in the region to triple in the next four years, and for it to capture a larger local market share, according to a statement. “Asia focuses heavily in the Private Bank’s growth plans. This will result in continued increases in headcount and having the space to accommodate this expansion is imperative. As one of the world’s top ten private banks and a key player in Asia, we wanted an address which mirrored our market standing and I feel we have achieved that with One Raffles Quay,” said Barend Janssens, head of ABN Amro Private Banking, Asia. In one of the largest leasing transactions in Singapore for almost ten years, ABN Amro has taken a total of 160,000 square feet in the South Tower of One Raffles Quay, three times its current office space.