UAE-headquartered bank FGB has expanded its business in Singapore with the launch of a global wealth management arm.

FGB, the UAE-based bank, is opening a global wealth management arm in Singapore as part of efforts to expand its consumer banking division globally. 

The new service will give wealth customers access to a wider portfolio of global investment products and will allow the bank to provide access to major assets and geographies in the region, said the firm in a statement.

At present, FGB Wealth offers around 1,500 wealth management products to clients, covering equity funds, bond funds, hedge funds, real estate and private equity funds, capital guaranteed funds, fixed deposits and others. 

"FGB’s strategy for this year is very clear, we will continue to grow our products across businesses and across markets... Singapore is an undeniable important location for investments. It also possesses the advantage of providing well defined succession and banking secrecy laws," said Andre Sayegh, chief executive of FGB. 

The company opened its first overseas office in Singapore in 2007, which in 2009 was upgraded to a wholesale banking unit. In 2011, it became a Category I branch. FGB also has offices in India and Hong Kong.