OCBC will combine its securities companies in Singapore, Hong Kong and Indonesia into its World Markets division efficient 1 July 2025.
This transfer comes as OCBC appears to sharpen its deal with a broader vary of buyer segments, together with excessive internet value and institutional shoppers.
It should deliver collectively OCBC Securities Pte Ltd (OSPL), OCBC Securities Brokerage (Hong Kong) Restricted and PT OCBC Sekuritas beneath one umbrella.
Retail brokerage has been a significant contributor to the financial institution’s securities enterprise, with OSPL rating among the many high three retail stockbrokers in Singapore by buying and selling quantity over the previous decade.
OCBC mentioned the combination is meant to strengthen its wealth and institutional choices by consolidating its equities, FX, charges and credit score merchandise beneath one division, with centralised, end-to-end oversight of its monetary markets operations.
Kenneth Lai, at present Head of World Markets, will take over oversight of the securities enterprise and function Chairman of OSPL.
Wilson He’ll stay Managing Director of OSPL and report back to Lai after the transition. OCBC additionally plans to develop the workforce as a part of the combination.
There will likely be no adjustments to staffing or consumer companies.
Retail clients will proceed to be supported by their current buying and selling representatives, and digital buying and selling platforms like iOCBC will function as ordinary throughout all three markets.
The financial institution mentioned the shift to the segment-agnostic World Markets division will assist efforts to boost institutional-grade capabilities, together with in main fairness markets origination.
Financial institution of Singapore’s shoppers, together with household workplaces, can even profit from extra tailor-made assist for advanced wealth wants.
OCBC sees rising curiosity in Asia’s fairness markets, citing initiatives equivalent to Singapore’s S$5 billion fund introduced by the Financial Authority of Singapore to spice up SGX-listed shares.
The financial institution additionally pointed to growing institutional demand in Indonesia and Hong Kong’s continued function as a gateway to Higher China’s capital markets.
Helen Wong, Group CEO of OCBC, mentioned,
“Now we have leveraged our three securities licences in Singapore, Hong Kong and Indonesia successfully over time to assist our clients, particularly within the retail section. Given the numerous alternatives that Asia presents, we see much more potential that may be unlocked from our securities companies, particularly within the institutional equities and excessive internet value consumer areas.
That’s why this transfer to the product group, World Markets, is strategic. Our company, business and Financial institution of Singapore shoppers, will profit from extra institutional-grade capabilities, which will likely be progressively launched to fulfill their wants. We are going to proceed to optimise our One Group capabilities to assist our clients comprehensively.”
Featured picture: Edited by Fintech Information Singapore, based mostly on picture by OCBC