Bank of Singapore Expands UHNW Shelf with Senior Hire

Continued growth from its ultra-high net worth clients business has led Bank of Singapore to bolster its product capabilities with the addition of a new head of bespoke investments for Greater China and North Asia.

Kelvin Teo joins the bank in the new Hong Kong-based role to source unique and exclusive investment opportunities for UHNW clients in Greater China and North Asia, particularly with regards to buyout funds and real estate. Teo reports locally to Derrick Tan, Hong Kong branch CEO and global market head of Greater China and North Asia; and functionally to Carolyn Tham, head of UHNW bespoke investments.

Teo was most recently a Hong Kong-based director of equity capital markets for Credit Suisse. He was responsible for the origination of capital market transaction for corporate and institutional clients. Previously, he had 15 years of experience in investment banking across various areas including IPO, pre-IPO financing, acquisition financing and more.

Since 2017, the bank’s number of UHNW clients has doubled and assets from the client segment grew nearly 40 percent. The UHNW segment aside, Bank of Singapore is also boosting its Greater China business, which reportedly nearly tripled assets under management in five years.

Teo’s hire follows a number of senior appointments for the regional business including the hire of Richard Hu earlier this year as market head for Greater China. Last year, the bank also hired Phonda Chan and Anne Song as market heads, alongside Jacqueline Lee as head of risk.