[SINGAPORE] OCBC will integrate its securities business, which is under its stockbroking subsidiaries, into its global markets division on Jul 1, 2025.
This is a strategy of the bank to better leverage its securities capabilities to serve a wider spectrum of customer segments across the group, OCBC said in a statement on Wednesday (May 14).
The merged entities will include OCBC Securities (OSPL), OCBC Securities Brokerage (Hong Kong) and PT OCBC Sekuritas (Indonesia).
The integration will allow OCBC to develop more holistic wealth propositions for high-net-worth segments, and unlock opportunities in the institutional equities space.
The enlarged global markets segment will also help it play a strong role in primary equity markets origination, and to better serve its extensive wholesale banking client base. This is especially as the bank expects interest in Asia’s equity markets to grow.
It noted that retail brokerage has been the key revenue driver of its securities business.
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Kenneth Lai, head of global markets at OCBC, will oversee the securities business as part of the enlarged division.
Lai will also be appointed chairman of OSPL’s board, while Wilson He will continue as managing director of OSPL, with more talents to be added to the team.
Helen Wong, group chief executive of OCBC, said: “Given the many opportunities that Asia presents, we see even more potential that can be unlocked from our securities businesses, especially in the institutional equities and high net worth client spaces.”
Customers will be able to trade as per normal following the integration, OCBC said.
All existing staff will continue to serve in their current roles with no impact to customers, the bank added.
Shares of OCBC were down 1.3 per cent to S$16.14 as at the midday break on Wednesday.
