OCBC private bank set for Malaysia expansion following Pacific Mutual deal

clock • 1 min read

The private banking arm of Overseas Chinese Banking Corporation's (OCBC) is looking to expand its presence in Malaysia following its acquisition earlier this week of Kuala Lumpur-based Pacific Mutual Fund. OCBC's Bank of Singapore private wealth management unit confirmed this week it is to acquire Pacific Mutual Fund for $8.5 million. The acquisition paves the way for OCBC to develop its own presence in Malaysia, where HNWIs' wealth grew by 8% YoY in 2018, according to a report by Capgemini. The new private banking arm will be run separately from OCBC's retail and corporate banking se...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.