Bank of Singapore Expands Dubai Private Banking Team
CEO Moo says Dubai and Singapore wealth markets are not competing for the same clients.
Updated on Nov. 5, 2026 in Financial Services
Bank of Singapore is expanding its private banking team at its DIFC branch in Dubai, which serves clients across the Middle East and Europe. CEO Moo said there is no cannibalization between the Dubai and Singapore wealth markets.
Why it matters
Bank of Singapore is one of three strategic hubs alongside Singapore and Hong Kong, and the expansion reflects growing financial ties between Asia and the Middle East. Moo believes the next alliances will be built in ASEAN-related investment corridors.
Bank of Singapore's account-opening process takes 15 business days, compared with an industry median of about six weeks. The bank operates three strategic hubs, and the source does not quantify how many private bankers the DIFC expansion will add.
The players
Bank of Singapore
Bank of Singapore is the wealth management arm of OCBC Group, headquartered in Singapore and operating strategic hubs in Singapore, Hong Kong and Dubai.
Moo
Moo is the chief executive of Bank of Singapore, who has described the relationship between the Dubai and Singapore wealth markets.
The details
Bank of Singapore organised visits to Dubai for Chinese investors and senior financial institution executives. The bank uses the wider OCBC Group network across Greater China and ASEAN to help Middle Eastern clients access markets, and Asian clients make up the majority of its customer base.
Timeline
Over the past five years, Bank of Singapore has seen a rise in international clients.
Market Landscape
Dubai and Singapore are positioning as complementary wealth hubs as Asian and Middle Eastern capital flows deepen. Bank of Singapore's DIFC expansion extends that corridor by adding private banking capacity in Dubai while keeping its Singapore and Hong Kong hubs intact.
Clients seeking private banking across Asia and the Middle East may find more coverage options as Bank of Singapore grows its Dubai team. The bank's 15-business-day account-opening process may offer faster onboarding than the industry median of six weeks.
The takeaway
Cross-border wealth management increasingly depends on regional hubs linked through network partners. Clients comparing private banks should weigh onboarding speed and regional reach alongside headline fees.
Further reading
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Source note: This article includes information reported by Arabianbusiness.
