Bank of Singapore, the private bank of Singapore’s second-biggest lender OCBC (OCBC.SI), said 10 private bankers have asked to leave the bank, the first challenge for OCBC after its bought ING’s (ING.AS) Asian private bank.

The bankers who may leave were part of the OCBC’s private banking unit, which was merged with the Asian private banking unit of ING this year, a spokeswoman said, confirming a story in the Business Times. Bank of Singapore has a total of 200 private bankers of which 50 came from OCBC’s private bank. 

 

“The integration of two different organizations resulting from any merger and acquisition activity is not expected to be totally smooth,” said Renato de Guzman, chief executive of Bank 

 

“Staff volatility is also not unusual in private banking in Singapore.” 

 

The move comes as a recovery in Asian economies and markets has renewed fierce poaching among foreign and Asian private banks, which are expanding in the region to tap fast-growing wealth.

 

Swiss wealth manager BSI hired about half of its new staff from rival RBS Coutts in Singapore.

 

UBS (UBSN.VX), which has also lost bankers to rivals, wants to hire 40% more staff in its Asian wealth management arm, while Standard Chartered (STAN.L) is adding 100 private bankers this year.