Bank of Singapore, a prominent private bank in Asia, announced on Monday the appointment of Jibu George as the head of compliance for its Dubai International Financial Centre (DIFC) branch, effective immediately.
Ranjit Khanna, the head of private banking for Europe and the Middle East at Bank of Singapore, as well as the chief executive of the DIFC branch, emphasized the significance of the UAE and the Middle East region in the bank’s strategic expansion plans.
Khanna stated, “The UAE and the Middle East region have been important to Bank of Singapore’s strategic growth and will remain so as we continue to strengthen our global footprint.”
Bank of Singapore, a subsidiary of Oversea-Chinese Banking Corporation (OCBC), Singapore’s second-largest lender, aims to enhance its presence in the Middle East region over the next three to five years, according to Khanna.
George comes to Bank of Singapore from LGT Private Bank, where he served as the chief risk and compliance officer for the Middle East business since 2017, as mentioned in the statement.
Prior to his role at LGT, George held positions at Merrill Lynch, ABN Amro, Dresdner Bank, and Barclays, as outlined in the statement.
In another financial development, Singapore’s central bank has halted remittances to China through non-bank channels.
