OCBC is set to integrate its securities business under its stockbroking subsidiaries into the bank's Global Markets division on July 1, 2025. This strategic decision aims to expand OCBC's reach across high net worth and institutional customer segments. The integration will not affect existing staff or customer services.
OCBC Securities Pte Ltd (OSPL) has been a significant revenue contributor in retail brokerage, ranking among the top three retail stockbrokers in Singapore by trading volume over the past decade. The move to consolidate these entities as part of a product group allows OCBC to enhance wealth propositions for high net worth clients and explore opportunities in institutional equities.
Kenneth Lai, Head of Global Markets, will oversee the expanded securities business and assume the role of Chairman of OSPL’s Board. Wilson He will continue as Managing Director of OSPL, reporting to Lai post-integration. The Global Markets division will gain centralized oversight over financial markets products such as equities, FX, rates, and credit.
The integration aligns with OCBC's expectations for growing interest in Asia's equity markets. In Singapore, this interest is bolstered by a S$5 billion initiative from the Monetary Authority of Singapore aimed at enhancing SGX-listed stocks. Hong Kong remains a pivotal hub for capital market access into Greater China, while Indonesia presents long-term potential for investors.
Helen Wong, Group CEO of OCBC, commented on the move: “As a leading wealth management player in the region...we see even more potential that can be unlocked from our securities businesses...Our corporate, commercial and Bank of Singapore clients will benefit from more institutional-grade capabilities.”
Customers are assured continuity in their trading activities through existing platforms like iOCBC and local subsidiaries without disruption post-integration.