Bank of Singapore, the private banking unit of OCBC Bank, will not be affected by the departure of a number of employees, as it is recruiting from other private banks, the group’s CEO, David Conner, said at the bank's annual general meeting, according to the Straits Times.

Earlier this month media reports said ten private bankers had asked to leave Bank of Singapore, formed when OCBC acquired ING’s Asian private banking subsidiary and merged it with its own private banking.

The comments from Conner were prompted by a shareholder’s questions about the viability of the bank’s $1.5 billion takeover of ING Asia Private Bank, according to the report.

The bankers who are reported to be leaving were ten of 50 private bankers working for OCBC before the merger.

The integration of two organizations “is not expected to be totally smooth”, said Renato de Guzman, chief executive of Bank of Singapore, at the time of the initial reports, adding that, “Staff volatility is also not unusual in private banking in Singapore.”

At the meeting Conner reportedly said the private bank had already brought in extra talent; indeed, last month it hired Robin Heng from UBS as managing director for Southeast Asia. Additionally, it intends to hire around 30 new relationship managers this year, de Guzman has said.

Also at the meeting, it is reported that a motion proposed by the board, for 6,000 instead of 4,800 shares to be awarded to non-executive directors on top of cash payment fees of $1.746 million, was approved.

The increased compensation reflected the larger workload of directors and the pressure created by heightened focus on corporate governance, said chairman Cheong Choong Kong, the publication said.

The chairman also expressed his gratitude to departing board members Wong Nang Jang and Giam Chin Toon, who have served on the board for 11 and five years respectively, according to the publication.