In brief
At the Dubai FinTech Summit, Bank of Singapore CEO Jason Moo stressed the complementary nature of Dubai and Singapore as wealth centres, noting rising investment ties between Asia and the Middle East. He highlighted the growing interest of Chinese and Middle Eastern clients in each other’s markets and outlined how artificial intelligence is reshaping private banking. Moo emphasised that global wealth will be managed across multiple locations, with no cannibalisation.
On 5 November 2026, Bank of Singapore CEO Jason Moo participated in a one‑on‑one fireside chat at the Dubai FinTech Summit, held at Madinat Jumeirah on the first day of the event. The session, titled “A New Era for Global Wealth: Capital, Technology and the Rise of Asia,” gave Moo a platform to share his view on the bank’s operations in the Middle East.
Moo outlined how Dubai and Singapore serve complementary functions as global wealth hubs, noting that the bank has positioned Dubai as one of its three strategic hubs alongside Hong Kong and Singapore itself. He said that the DIFC branch in Dubai “continues to add bankers to its team” and caters to clients in the Middle East and Europe.
During the discussion, Moo highlighted that the bank has seen an increase in international clients over the past five years, even though Asian clients still comprise the majority. He pointed to a growing trend of Chinese conglomerates and investors looking for wealth and investment opportunities in Dubai, and said the bank has organised visits to the city for those groups.
In a similar vein, Moo observed that Middle Eastern clients are increasingly seeking custody and investment opportunities in Asia, particularly in the markets of the Association of Southeast Asian Nations. He added that “the next alliances will be built” along this Asia‑Middle East corridor.
He noted that Asia is “a source of capital and a source of investment,” with wealth being generated in the region while international clients are looking there for opportunities. The CEO emphasized that there is no market cannibalisation, stating that “there’s enough wealth around the world to really be managed in different locations.”
"A source of capital and a source of investment," Moo said.
Moo underscored Dubai’s geographic accessibility between Asia and Europe, and the development of technology and investment ecosystems around the DIFC. He also cited growth prospects across the GCC and Indian subcontinent as factors contributing to Dubai’s appeal.
He touched on the role of artificial intelligence in transforming private banking, suggesting that AI will become a key differentiator for wealth managers. The CEO also mentioned the changing needs of family offices, which now employ more institutional approaches to allocation and diversification.
Bank of Singapore’s parent, OCBC Group, has a network across Greater China and ASEAN, a network that the bank can leverage to support clients exploring markets in those regions. Moo explained that the DIFC branch offers dedicated Chinese coverage to serve this expanding client segment.
Throughout the session, Moo kept the focus on collaborative growth rather than competition, arguing that expanding investment links between Asia and the Middle East can benefit both sides. He highlighted the mutual benefits of cross‑border wealth management, noting that clients benefit from diversified asset locations.
The fireside chat was part of the Dubai FinTech Summit’s agenda, which aims to bring together leading fintech executives and thought leaders to explore emerging trends in finance. Moo’s remarks added a cross‑regional perspective to the summit’s overall theme of a global wealth ecosystem.
