You don’t need to be a natural salesperson to be a banker: Bank of Singapore CEO

Bank of Singapore CEO Jason Moo emphasizes that success in private banking is not determined by one's personality type, but rather by the ability to establish and maintain trust-based relationships with clients. He notes that bankers often mirror the personality of their clients, with quieter clients possibly preferring a banker with a similar quiet demeanor, or a younger client possibly connecting better with a banker of similar age.

Moo stresses the importance of having a diverse team of bankers with varying personality types to cater to the diverse needs of clients. He also dispels the notion that being a natural salesperson is a prerequisite for success in private banking, illustrating this with examples of salespeople who achieve results through different approaches - some by meeting many people, others by building deeper relationships with fewer individuals.

Moo believes that success hinges on the strength and depth of relationships, regardless of the number of contacts made. As BOS aims to add "hundreds of private bankers" over the next few years to fuel its growth, Moo highlights the bank's strong focus on the UHNW segment, particularly in Asia, where many high-net-worth individuals are based.

He notes that Asia's affluent segment is growing wealthier and that the bank must first understand and address the business needs of these clients before managing their personal wealth.