Bank of Singapore is making significant strides in the ultra-high-net-worth (UHNW) sector by appointing seasoned private banker Mr. Lim Leong Guan as the Head of Private Banking for the Middle East, South Asia, and International markets. This strategic move, effective July 1, 2026, underscores the Bank’s commitment to enhancing its service offerings and expanding its presence in key financial hubs like Dubai.

Growth in the UHNW Segment

Recent data from the Capgemini Research Institute’s World Wealth Report 2026 reveals that the UHNW population saw a remarkable increase of 9.4% in 2025, continuing its trend as the fastest-growing wealth segment for the second consecutive year. In response to this surge, Bank of Singapore is targeting a 30% growth in UHNW assets under management (AUM) by 2028. This ambitious goal positions the Bank strategically within a rapidly evolving market landscape.

Mr. Lim will collaborate closely with established leaders like Mr. Rickie Chan, who oversees Private Banking for Greater China and North Asia, and Ms. Vi Sun Yang, recently appointed as Head of Private Banking for ASEAN. Together, this experienced team is set to trigger an acceleration in the Bank’s expansion plans within the UHNW bracket.

Transformational Leadership

With an impressive 35-year career in private banking, Mr. Lim brings a wealth of experience that spans various aspects of wealth management, including front-office operations, investment product development, and strategic advisory services. Since joining Bank of Singapore in 2020, he has played a crucial role in the Management Committee, significantly influencing both internal strategies and market positioning. In his new role, Mr. Lim aims not only to expand the UHNW segment but also to drive transformational change to unlock sustained growth for the Bank.

His track record speaks volumes, having successfully led initiatives that doubled the AUM in the Financial Intermediaries (FIMs) segment from 2024 to 2026. This accomplishment showcases his visionary leadership and ability to harness market opportunities effectively.

Focus on Innovative Financial Solutions

Beyond traditional banking practices, Mr. Lim has pioneered initiatives in the family office and wealth advisory space, significantly increasing revenues and establishing the Bank of Singapore Family Office Catalyst. Launched in 2025, this offering provides customized solutions for UHNW individuals, ultimately aiding them in professionalizing their wealth management processes. As the Interim Global Head of the Investment Solutions Group, Mr. Lim is well-placed to maximize growth potential across multiple sectors.

With Ms. Annabelle Chow stepping into the role of global segment lead for the FIM business, the Bank is ensuring that expertise is well-distributed. Ms. Chow has been vital in expanding the FIMs team, tripling its size across key locations like Singapore, Hong Kong, and Dubai over the past three years. Her innovative solutions, such as the FIM Alternatives Select platform, enable access to a vast array of investment opportunities, making the Bank more competitive in a crowded marketplace.

Recognizing Success and Future Potential

Underlining the strong leadership of Mr. Lim and Ms. Chow, Bank of Singapore has attained several prestigious industry accolades, including the title of Best Private Bank for intermediaries from recognized publications like Asian Private Banker and Citywire in 2025. These recognitions not only validate their strategic approach but also highlight the Bank’s growing reputation in the competitive landscape of private banking.

Jason Moo, the CEO of Bank of Singapore, expressed confidence in this leadership team, citing their essential role in driving the Bank’s UHNW strategy, which is pivotal for the institution’s next phase of growth. As Bank of Singapore continues to expand its footprint in Asia and the Middle East, the importance of a market-led model is becoming increasingly evident in capturing emerging opportunities.