Published by Asian Private Banker – 13th July 2017
CIMB has hired 12 people from ANZ to “handle the growth” of its private banking operations in Singapore, according to a media report.
CIMB’s group CEO Zafrul Aziz told The Straits Times that CIMB Private Banking has onboarded 12 individuals from ANZ in order to keep up with its “booming business” in Singapore. ANZ sold its international wealth and retail businesses in five markets, including Singapore, to DBS last month.
“We are very strong in the corporate sector,” he said. “Now, I want them to talk to the business owners to start using our private banking services. When you do a merger or a share sale, you always deal with CEOs. In Indonesia, that tends to be the owner himself. So, we partner them, take them to market, and bring along our private banking folk as well.”
A spokesperson for the bank confirmed the hires, adding that they are not all relationship managers. The spokesperson declined to reveal when the hires were made.
In May, a Bloomberg report stated thatCIMB Private Banking had hired seven staff in Singapore, five of whom have already started while the other two will join in September. The bankers reportedly joined from ANZ and DBS.
The report also said that the Malaysian lender had not ruled out the possibility of pursuing acquisitive growth as well.
CIMB Private Banking currently has US$11 billion in AUM.
