Print this article

Bank Of Singapore Starts New RM Compensation Regime

Tom Burroughes

11 March 2026

has brought in a new performance-based compensation framework for its relationship advisors as the bank aims to give RMs more clarity over their variable bonuses, this news service understands.

With competition remaining strong for private banking business, the Singapore-based private bank is tweaking the way it rewards RMs.

“Relationships and trust lie at the heart of private banking, and our relationship managers (RMs) are central to delivering the expert advisory and value that clients expect,” Jason Moo, Bank of Singapore CEO, told WealthBriefingAsia in an emailed statement. “To provide our RMs with greater certainty and transparency over their variable bonus, we have introduced a new compensation framework tied directly to each RM’s profit contribution – a metric they are closely monitoring.”

“This is a meaningful shift that reflects our commitment to attracting and retaining the very best talent to support our growth ambitions,” Moo said. 

It is common for RMs at different banks to have compensation that comprises their base salary and a variable bonus. In most private banks, variable bonuses are predominantly paid on a discretionary basis.

What has happened at BoS is that RMs have more certainty and transparency over how their variable bonus is calculated. In other words, RMs will know what their performance goals are.