OCBC will integrate its securities businesses in Singapore, Hong Kong and Indonesia into its Global Markets division effective 1 July 2025.
This move comes as OCBC looks to sharpen its focus on a broader range of customer segments, including high net worth and institutional clients.
It will bring together OCBC Securities Pte Ltd (OSPL), OCBC Securities Brokerage (Hong Kong) Limited and PT OCBC Sekuritas under one umbrella.
Retail brokerage has been a major contributor to the bank’s securities business, with OSPL ranking among the top three retail stockbrokers in Singapore by trading volume over the past decade.
OCBC said the integration is intended to strengthen its wealth and institutional offerings by consolidating its equities, FX, rates and credit products under one division, with centralised, end-to-end oversight of its financial markets operations.
Kenneth Lai, currently Head of Global Markets, will take over oversight of the securities business and serve as Chairman of OSPL.
Wilson He will remain Managing Director of OSPL and report to Lai after the transition. OCBC also plans to expand the team as part of the integration.
There will be no changes to staffing or client services.
Retail customers will continue to be supported by their existing trading representatives, and digital trading platforms like iOCBC will operate as usual across all three markets.
The bank said the shift to the segment-agnostic Global Markets division will support efforts to enhance institutional-grade capabilities, including in primary equity markets origination.
Bank of Singapore’s clients, including family offices, will also benefit from more tailored support for complex wealth needs.
OCBC sees growing interest in Asia’s equity markets, citing initiatives such as Singapore’s S$5 billion fund announced by the Monetary Authority of Singapore to boost SGX-listed stocks.
The bank also pointed to increasing institutional demand in Indonesia and Hong Kong’s continued role as a gateway to Greater China’s capital markets.
Helen Wong, Group CEO of OCBC, said,
“We have leveraged our three securities licences in Singapore, Hong Kong and Indonesia effectively over the years to support our customers, especially in the retail segment. Given the many opportunities that Asia presents, we see even more potential that can be unlocked from our securities businesses, especially in the institutional equities and high net worth client spaces.
That’s why this move to the product group, Global Markets, is strategic. Our corporate, commercial and Bank of Singapore clients, will benefit from more institutional-grade capabilities, which will be progressively introduced to meet their needs. We will continue to optimise our One Group capabilities to support our customers comprehensively.”
Featured image: Edited by Fintech News Singapore, based on image by OCBC
