EXCLUSIVE: Asia Private Bank Heavyweight To Move On

Tom Burroughes And Tom King

7 February 2014

This publication understands that Nagendra Yelandur, alternate chief executive at 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.