CIMB adds seven hires at private bank

Companies like CIMB Group Holdings Bhd, Hong Leong Financial Group Bhd (HLFG) and AmBank Group Bhd may have to beef up their capital structures by 2019.

PETALING JAYA: CIMB Group Holdings Bhd. has hired seven people recently at its private bank in Singapore, according to a person familiar with the matter, as it seeks to become one of the top 20 Asian players in the sector

Five of the hires have already started and the remaining two will join by September, said the person, who asked not to be identified as the matter is private. Some are relationship managers who worked at Australia & New Zealand Banking Group Ltd., which last year sold its wealth and retail banking units in Singapore and four other markets to DBS Group Holdings Ltd., according to the person