Vereinsbank Joins Growing Numbers Of German Banks Entering Singapore

BANKS

Bayerische Vereinsbank is planning to open a treasury operation in Singapore by September, says Helmut Konrad, general manager at the bank's Munich head office. Singapore will serve as a hub for Asia but this will not affect the bank's business in Hong Kong and Tokyo.

Vereinsbank will have 12 dealers initially in Singapore, focused on FX, money markets and local Asia capital markets. Andreas Schmits, who has been managing the Singapore project in Munich, will be transferred to the city-state