Bank of Singapore will strengthen its product capabilities with the hire of a seasoned industry veteran formerly from Blackrock.
Robert Reid joins Bank of Singapore as global head of alternative investments and managed solutions, according to a statement, effective May 30.
Based in Hong Kong, Reid reports to global head of products Lim Leong Guan and Hong Kong branch Greater China head Teresa Lee.
Reid has 30 years of legal, consulting and financial experience in the Asia Pacific region. He was most recently with Blackrock where he was its country head of Hong Kong and Taiwan after joining the asset manager eight years ago as head of strategist and chief operating officer for the iShares business in Asia. Previously, he also held senior leadership roles at other asset managers and sell-side firms.
Rising Demand for Alts
Not unlike its peers, Bank of Singapore is observing incresed interest in alternatives across private markets, real estate, hedge funds and direct investments in recent years, amidst increasing volatility in public markets.
In 2021, it saw a 60 percent increase in inflows towards the asset class.
«We have seen significant growth in our alternatives and managed solutions business in recent years. [Reid’s] exemplary track record in building and managing businesses in the wealth industry in Asia will be crucial to accelerating and delivering these ambitions,» said Lim.