OCBC unveils unified brand across core markets, plans to expand teams in the region

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The bank will double the number of relationship managers serving high-net-worth customers in the Premier Banking and PPC segment in Greater China by 2025.

On 3 July 2023 (Monday), OCBC announced a unified brand across its core markets, through which it expects to accelerate its growth and deliver S$3bn in incremental revenue by 2025.

According to Helen Wong, Group Chief Executive Officer, OCBC, this unified brand is a strategic move that demonstrates OCBC's One Group approach, and is one of eight core pillars of the group's corporate strategy that was refreshed in 2022. 

In ASEAN, OCBC services seven key markets, which Wong notes contributes to over 98% economic growth of the region through using locally incorporated banking and insurance subsidiaries, and bank branches and offices. In Greater China, the group has about 4,500 staff across 67 branches in 17 cities in mainland China, Hong Kong, Macau, and Taiwan complemented by its partnership with Bank of Ningbo. 

As part of its goal to accelerate growth, over the next three years, the group plans to invest further into its wholesale banking business; as well as invest more than S$50mn to build transaction banking capabilities in Greater China. Additionally, it targets to achieve more than 500 regional mandates for cash management over the next five years, and to improve its investment banking capabilities in Greater China – especially in debt issuance and syndication, and advising and financing of cross-border corporate finance deals.

OCBC expects to hire more bankers following this regional push. This aligns with projections shared in 2021, which predicted a 30% increase in the number of corporate and commercial bankers to about 400 by 2024, with some of these hires being for the Bank’s Greater China Business Office. The Greater China Business Office supports the Greater China Businesses’ expansion plans in ASEAN and currently has teams in Singapore, Indonesia, Malaysia, Thailand, and Vietnam.

Additionally, by 2025, OCBC aims to double its assets under management (AUM) of its Premier Banking and Premier Private Client segments for Greater China. In support of this, the bank will double the number of relationship managers serving high-net-worth customers in the Premier Banking and PPC segment in Greater China by 2025.

With regards to Bank of Singapore, OCBC’s private banking subsidiary, it has strategised to expand its team of relationship managers to 500 by end-2025. 

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Lead image / OCBC