Bank of Singapore creates global advisory council; appoints chief portfolio strategist

The council will support the Chief Investment Office and has eight high profile figures from firms including BlackRock, M&G Investments, KKR, Goldman Sachs, the Milken Institute and Nomura Asset Management, while Owi Ruivivar joins the bank in a new role, from GIC.

Bank of Singapore has created an independent investment advisory council to support the bank’s Chief Investment Office’s (CIO) research capabilities and to develop client insights.

The CIO Global Advisory Council has eight members who have been chosen based on their track record in economics, public policy, geopolitical analysis, asset allocation and investment management, according to a statement from the bank. 

The members are: Belinda Boa, head of Apac active investments and chief investment officer of emerging markets, BlackRock; Ken Caplan, global co-chief investment officer, Blackstone; Fabiana Fedeli, chief investment officer, equities, multi-asset and sustainability, M&G Investments; Robin Hu, Asia chair, Milken Institute and advisor senior director, Temasek; Stewart James, co-head, office of government affairs Apac, Goldman Sachs; Yuichi Murao, chief investment officer, Nomura Asset Management; Adam Posen, president, Peterson Institute for International Economics; and Paula Campbell Roberts, chief investment strategist for global wealth, KKR.

A spokesperson for the bank told FinanceAsia that the council will meet two to three times a year. So far this year, they had meetings in March and May, while the next meeting is the CIO Summit event in Singapore on July 17.

Jean Chia, global chief investment officer, Bank of Singapore, said in the statement: “Building intellectual capital is a key part of the bank’s strategy to become the top private bank in Asia. In today’s knowledge-driven economy, we are enhancing our competitive advantage by investing in research capabilities, which includes convening this global advisory council that complements our in-house insights.”

Since January 2024, the CIO has reported to Bank of Singapore's chief executive officer Jason Moo. The CIO sets the asset allocation framework, investment views and securities research, while the advisory and discretionary portfolio management teams manage client assets, the statement said.  

While the CIO Global Advisory Council will offer insights, the Bank of Singapore's house view – which guides investment decisions – uses the CIO's in-house research, investment strategy and asset allocation expertise, the bank explained. 

Earlier this year, the CIO set-up a wealth management and investment management technology, which is used by asset managers and institutional investors. Bank of Singapore is one of the first private banks in Asia to adopt the platform for private banking clients. 

Bank of Singapore is owned by OCBC, and has offices in Singapore, Hong Kong, Malaysia, the UK, Luxembourg and Dubai, and a representative office in the Philippines, according to its website. 

On April 17 Rickie Chan tool on the role of chief executive of the Hong Kong branch. Chan added it to his role as head of private banking, Greater China, and replaced Cindy Wong, whose last day at the bank was May 31, 2024. She joined the Bank of Singapore in November 2015 and became CEO of the Hong Kong branch in 2021. 

New chief portfolio strategist

Bank of Singapore has also appointed a chief portfolio strategist. Owi Ruivivar, who has over 30 years of experience in economics, investment strategy and portfolio management, has assumed the new role, starting on June 3.

Based in Singapore, Ruivivar will be a member of the bank’s investment committee that decides on the strategic and tactical asset allocation calls for clients. She reports to Chia.

The newly created role will help develop a “systematic, robust and risk-based multi-asset allocation framework that will guide clients as they build long-term investment portfolios”, a statement said.

Ruivivar joins from Singapore’s GIC where she spearheaded investment-oriented thematic research at the economics and investment strategy department. She also led the future markets investing team, which oversaw multi-asset investments across private and public markets in frontier emerging markets countries. Prior To GIC she spent 17 years with Goldman Sachs Asset Management.

Chia said: “In today’s knowledge-driven economy, we aim to enhance our competitive advantage by hiring and developing talent in research and portfolio management capabilities.”

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