Abu Dhabi-based First Gulf Bank (FGB) has rolled out its global wealth management service in Singapore in a move to enhance its products and offerings as well as provide investors with access to all major assets and geographies in the Asia Pacific region.
The bank said that the new service is also expected to give wealth customers access to a wider portfolio of global investment products including the FGB’s range of structured products which features dual currency investments (DCI), equity linked notes, commodity/metals linked notes, interest rate linked range accrual notes, and fixed income notes.
FGB chief executive André Sayegh said the launch is part of the bank’s strategy to grow its products across businesses and across markets. “Singapore is an undeniable important location for investments,” he said.
FGB Wealth currently provides access to more than 1,500 high-profile wealth management products, including equity funds, bond and hedge funds, real estate/private equity funds, capital guaranteed notes, coupon paying notes, equity participation notes, commodity notes, fixed deposits, as well as dual currency deposit and term insurance and savings plans.
The launch follows FGB’s announcement that its Singapore branch set up a $1bn negotiable certificates of deposit program to expand in Asia Pacific.
The certificates program will be used to raise capital for short periods and allow FGB to “reach out to a wider range of institutional investors”.
The certificates of deposit program was arranged by FGB’s Singapore branch and Standard Chartered Plc, the lender said. Dealers are ANZ Bank, BNP Paribas, Commerzbank, DBS Bank., Nomura Holdings and WestPac Banking.
FGB last month raised AUD$250m from the sale of five-year Kangaroo bonds.