The lender, which caters to HNW and UHNW clients, confirmed to this publication that it is acting to guard clients in cases where relationship managers leave. 

The frictions that can arise when a relationship manager quits a bank to join a rival or external asset manager (EAM) came into the spotlight amid reports that Bank of Singapore has introduced a policy to stop client and talent poaching. 

"The measure is established to ensure a smooth transition for our clients after their relationship managers depart. It does not affect the appointment of FIMs [financial intermediaries] by new clients of the bank, or existing client relationships,” a spokesperson for BoS told WealthBriefingAsia when asked about a media report. “Our commitment to the FIM segment remains strong. We regard them as strategic partners and are dedicated to growing with them."

BoS said in an internal memo that any client accounts previously managed by a relationship manager who resigned from the bank cannot be recategorised by any FIM, such as an external asset manager, for at least one year from the RM’s last day of employment.

This news service spoke to BoS, part of OCBC, last year about its strategy for serving EAMs and other financial institutions, such as family offices. (See related coverage of the sector here.) On 15 October at Singapore's Mandarin Oriental hotel, this news service will be holding its annual awards ceremony for the EAM sector.
 
A report by CitywireAsia in late May mentioned that UBS has tightened the parameters for its directed trades, specifically with third-party structured product providers executed through the bank. UBS declined to comment to WealthBriefingAsia about the matter.