Bank of Singapore CEO Bahren Shaari Announces Retirement, 32 Years Veteran Banker Including UBS & ING and Appointed as CEO in 2015 and Grew Private Banking AUM from $50 Billion to $110 Billion in 2022
16th December 2022 | Singapore
Bank of Singapore CEO Bahren Shaari has announced his retirement after nearly 8 years since his appointment as Bank of Singapore CEO in February 2015, growing the private banking AUM (Assets under Management) from $51.1 billion in 2015 to over $110 billion in 2022. Bahren Shaari, who has over 32 years of banking experience including UBS (Managing Director of Wealth Management, Head of South East Asia & Australia), was part of the management team of ING Asia Private Bank, which OCBC Group acquired and established as Bank of Singapore in 2009. Bank of Singapore is a wholly owned subsidiary of OCBC Bank, Southeast Asia’s second largest bank. OCBC Group Chief Risk Officer Vincent Choo Nyen Fui is appointed interim Bank of Singapore CEO with effect from 1st January 2023.
“ Bank of Singapore CEO Bahren Shaari Announces Retirement, 32 Years Veteran Banker Including UBS & ING and Appointed as CEO in 2015 and Grew Private Banking AUM from $50 Billion to $110 Billion in 2022 “
Bank of Singapore Bahren Shaari on Linkedin 17th Dec 2022 – “Since the announcement of my retirement, I have been heartened by the many well wishes from all quarters. Thank you all for your kind messages.
I’m immensely grateful and proud of the 13 years I’ve spent at Bank of Singapore, Asia’s Global Private Bank. It has been a great privilege for me to work with a team of dedicated colleagues who are the best at what they do.
I’m also thankful for the opportunities and guidance given to me throughout my more than 30-year private banking career, in particular by my former boss Marcel Kreis during UBS days and my predecessor at Bank of Singapore Bing De Guzman, both of whom played a critical role in this journey that has taken me to where I am today.
A key lesson I’ve learnt as CEO is that you can never go wrong when you invest in people and relationships. My greatest reward has been finding people who shared those same values and sense of purpose, working alongside them, and delivering work that I am proud of.
I’m really looking forward to the next chapter of my life. Thank you once again, dear friends and colleagues – both past present – for being part of my journey at Bank of Singapore. Here’s wishing you happy holidays and all the very best. Do stay in touch.”
Bahren Shaari, Bank of Singapore CEO
Bahren Shaari is the Chief Executive Officer of Bank of Singapore, the private banking subsidiary of OCBC Bank. He has more than 30 years of banking experience. In 2016, he was conferred the Singapore Institute of Banking and Finance Distinguished Fellow award, in recognition of his significant contribution to the financial industry and outstanding leadership capabilities. Bahren was appointed to the National University of Singapore’s Board of Trustees on 1 June 2021. He also serves as a director on the board of SPH Media Holdings. Bahren is a member of the Council of Presidential Advisers and served as an alternate member from April 2017 to January 2020. Bahren was conferred the Public Service Star Medal in 2018. He was awarded the Public Service Medal in 2008.
Bahren is married with three children and graduated with an accountancy degree from the National University of Singapore.
Vincent Choo Nyen Fui, Interim Bank of Singapore CEO
OCBC Group Chief Risk Officer Vincent Choo Nyen Fui is appointed interim Bank of Singapore CEO with effect from 1st January 2023.
Vincent Choo Nyen Fui was appointed Executive Vice President and Group Chief Risk Officer (GCRO) of OCBC on 1 August 2014. As GCRO, he covers the full spectrum of risk, including Credit, Cyber & Information Security, Liquidity, Market, Operational, and Environmental Social Governance (ESG). In addition to his capacity as GCRO, he was appointed as Group Chief Information Security Officer (CISO) on 1 March 2022. He reports jointly to both Group CEO and the Board Risk Management Committee of OCBC Bank. Mr Choo joined OCBC from Deutsche Bank AG where his last appointment was Managing Director and Chief Risk Officer for Asia Pacific. He is a Director of Bank of Ningbo Ltd and a member of Management Board of NUS Risk Management Institute. Mr. Choo holds a Master of Arts in Economics from University of Akron, USA, and he is an IBF Distinguished Fellow.
Bank of Singapore
Bank of Singapore is a wholly owned subsidiary of OCBC Bank, Southeast Asia’s second largest bank. Headquartered in Singapore, Bank of Singapore operates from a strong and open economy. We are one of the fastest growing private banks in Asia, offering a structured and consistent approach – an open architecture product platform with robust research capabilities to deliver a total risk-based solution customised to each client’s needs. As we are strategically positioned to serve our clients across the globe with our network of offices, they also enjoy access to our parent company’s full suite of investment and commercial banking solutions such as financing, insurance and brokerage services.
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