One of the high-profile figures of the Asia and Singapore private banking scene is stepping down from his role, this publication has learned.

This publication understands that Nagendra Yelandur, alternate chief executive at Bank of Singapore, the Asia-based private bank, is leaving the firm.

Nagendra, as he is more popularly known, had the full title of alternate chief executive, Hong Kong Branch and Global Marketing Head, India Sub-Continent.

A source familiar with the matter, who has declined to be named, told this publication that Nagendra was leaving the bank. This publication is in contact with Bank of Singapore about the matter.

The high-profile banker was one of the original ING Private Bank team members acquired by OCBC Bank in late 2009. He had been at ING Private Bank since August 2002; prior to that, he worked at Rabobank – another Netherlands-headquartered bank – from 1996 to 2002.

OCBC paid $1.5 billion ING's Asian private banking business, a move made as ING sought to dispose of certain assets in the wake of the 2008 financial crisis. The acquisition helped propel OCBC up the wealth management rankings in the Asia-Pacific region. The combined private banking businesses was subsequently named Bank of Singapore. He worked with a team operating in areas such as catering to Non-Resident Indian clients.

The departure would mark the first significant exit since the inception of the new business.