Singapore’s OCBC hires ex-Goldman’s executive to head private banking unit

The Oversea-Chinese Banking Corp (OCBC) hired Jason Moo as the new chief at its private banking unit, Bank of Singapore. Moo, a Singaporean who spent more than two decades at Goldman Sachs Group, will start at Bank of Singapore next year. Moo left Julius Baer Group in mid-December and will succeed Bahren Shaari, who is set to retire at the end of 2022 after seven years in his current role. Bank of Singapore is among the top 10 private banks in Asia – outside of China, according to Asian Private Banker’s rankings, and manages about USD114bn in client assets. Moo will need to navigate a highly competitive industry where global wealth managers from UBS Group to Credit Suisse Group and Citigroup are vying for more market share in Asia.