People Moves
Bank Of Singapore Targets UHNW Clients' Bespoke Investments Needs

The senior hire previously worked at Credit Suisse.
Bank of
Singapore has appointed former Credit Suisse senior figure
Kelvin Teo as head of bespoke investments for Greater China and
North Asia.
Teo will explore opportunities for UHNW clients, such as direct
investments in regional “unicorns” (a privately held startup
company valued at over $1 billion), and related areas, and
solutions in areas such as buyout funds and property-linked
financial instruments, the bank said.
In BoS’s case, an ultra-wealthy client is defined as someone with
at least $30 million of investable assets.
Based in Hong Kong, Teo reports locally to Derrick Tan, chief
executive of Bank of Singapore’s Hong Kong Branch and global
market head for Greater China and North Asia, and functionally to
Carolyn Tham, global head of UHNW Bespoke Investments. Tham is
based in Singapore.
“We have seen an increase in demand for sophisticated product
offerings and financial solutions among ultra-high net worth
clients. To serve this demand, we are dedicated to growing a
strong team to provide tailor-made wealth management solutions to
match our clients’ sophisticated level of investment needs,” Tan
said.
Among recent hires, BoS appointed Richard Hu, market head for
Greater China. Last year, there were three senior hires - market
heads Phonda Chan and Anne Song, and head of risk, Jacqueline Lee
– all of whom have extensive banking experience in the
region.
As of 30 June, Bank of Singapore’s assets under management were
$111 billion, 9 per cent higher than a year ago.