Singaporean bank considers Luxembourg base
Private banking arm, which runs European business from London, understood to be eyeing presence in Grand-Duchy.
Singapore's second-largest bank, Oversea-Chinese Banking Corporation (OCBC), is considering setting up a new subsidiary in Luxembourg following Britain's votes to leave the European Union (EU), the Luxemburger Wort understands.
OCBC's private banking arm, Bank of Singapore, which runs its European business from London, is understood to be eyeing a presence in the Grand-Duchy, which would allow it to continue selling its services across the EU after Britain leaves the bloc in 2019.
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