This represents another senior hire by Bank of Singapore of a former senior figure at Credit Suisse.

Bank of Singapore has appointed former Credit Suisse senior figure Karthik Shenoy as its new head of platforms and transformation in the lender’s chief operating office.

Shenoy, based in Singapore, reports to COO, Jacky Ang.

The bank, part of Singapore-listed OCBC, is driving a three-year strategic plan to enhance its internal infrastructure and platforms, it said in a statement yesterday. 

Shenoy, who has more than 20 years of experience in the financial services industry, has held senior positions in business and technology domains. Previously, he worked at Credit Suisse where he was global head of financing technology and head of Asia-Pacific wealth technology. Before that, he was head of the APAC banking and lending platform and head of the APAC markets platform. Shenoy has worked in Singapore, Tokyo, and Hong Kong.

WealthBriefingAsia understands that he is replacing Emmanuel Bucaille, who is taking up a new role.

BoS has appointed a number of former senior Credit Suisse figures in recent months, for instance Ronnie Cheung, who joined in March this year, as COO for Greater China for the Hong Kong branch – Cheung was formerly the Hong Kong COO at the Swiss bank. In December 2023, BoS recruited former Goldman Sachs executive director and Credit Suisse Hong Kong CEO Rickie Chan as Bank of Singapore Hong Kong CEO. (This publication interviewed Chan in the summer to discuss his strategy for the Hong Kong and related marketplace.) 

Background and expertise 
“Karthik’s exceptional combination of business acumen and technology expertise positions him well to drive the implementation of our three-year strategic plan in enhancing our infrastructure and platforms,” Ang said of Shenoy. “His ability to collaborate well will also be instrumental in developing intricate client and front-office applications, which are critical deliverables of our three-year strategic plan.”

In the first half of 2024, OCBC said that its wealth management income – income from insurance, private banking, premier private client, premier banking, asset management and stockbroking – rose 14 per cent to a record S$2.54 billion ($1.92 billion). Group wealth management income accounted for 35 per cent of the group’s H1 2024 total income, rising 33 per cent from a year ago. The group’s wealth management AuM reached a new high of S$279 billion, rising from S$274 billion in the previous year, it said in a statement in August.