Bank of Singapore partners with Swiss bank Vontobel

Clients can now place their assets in Vontobel's Zurich booking centre.

Bank of Singapore announced in a recent release that it has entered into a strategic cooperation agreement with leading Swiss banking group, Bank Vontobel AG enabling its Asian ultra-high and high net worth clients to open an account with Vontobel to place their assets in the Swiss wealth manager’s Zurich booking centre.

This will enable them to access to the Swiss wealth manager’s best-in-class suite of European financial products and services. Bank of Singapore clients have the option of choosing Vontobel or Bank of Singapore to manage their assets booked in Zurich.

Switzerland is recognised as an attractive booking centre because of the stability and transparency of its legal and regulatory environment. It is a popular choice of offshore centres amongst ultra-high and high net worth individuals, holding nearly one-quarter of all offshore assets globally and is expected to remain the largest centre through 2020 due to its high service quality, diverse product offerings, political stability, safe haven currency and attractive location in Central Europe.

Adding this option of Vontobel’s booking centre in Switzerland is hence a natural fit to Bank of Singapore’s existing offering of booking services in two of the leading global financial hubs based in Asia – Singapore and Hong Kong.

Vontobel, one of the best rated Swiss Wealth and Asset Managers with close to 100 years’ history, has an established track record in investment banking, asset management and private banking in Europe. It offers a comprehensive range of customised wealth management solutions, including structured products, investments and wealth planning advisory services.

“This agreement is designed to meet increasing interest from Asian clients to have their assets in custody in Switzerland on top of our current booking centres in Singapore and Hong Kong. With this new capability, we are one of the few Asian private banks to be able to offer booking services for our clients in three of the leading global financial hubs – Singapore, Hong Kong and Switzerland. This further strengthens Bank of Singapore’s position as Asia’s Global Private Bank,” said Mr Olivier Denis, Bank of Singapore’s Global Market Head of Singapore, International, Thai & Indo-China.