In brief
At the Dubai FinTech Summit, Bank of Singapore CEO Jason Moo outlined how Dubai and Singapore act as complementary gateways for global wealth, stressing growing ties between Asia and the Middle East and the impact of AI on private banking. WAM’s coverage focuses on the partnership and multilateral flow of capital, while Khaleej Times frames the two cities as non‑competitive, collaborative hubs.
On 5 November 2026 at the Dubai FinTech Summit’s fireside chat, Bank of Singapore CEO Jason Moo articulated how Dubai and Singapore function together as key nodes in the global wealth ecosystem, drawing on the bank’s expanding presence in the Middle East.
In the session, held at the Madinat Jumeirah venue on the summit’s opening day, Moo highlighted a surge in cross‑regional investment ties between Asia and the Middle East, dovetailing Dubai’s strategic geography with Singapore’s established financial infrastructure. The CEO described Asia as “a source of capital and a source of investment,” noting that wealth is being created in the region while international clients increasingly seek opportunities there. He added that he had seen a rise of international clientele over the past five years, though Asian clients still prevail.
"There is no cannibalization. There’s enough wealth around the world to really be managed in different locations," said Moo.Moo
WAM’s reporting emphasizes the complementary dynamic, underlining that Dubai’s accessibility between Asia and Europe, the development of technology platforms and investment ecosystems around the Dubai International Financial Centre (DIFC), and growth prospects across the Gulf Cooperation Council and the Indian sub‑continent all contribute to the city’s appeal. Moo added that Dubai is one of Bank of Singapore’s three strategic hubs, alongside Hong Kong and Singapore itself, and that the DIFC branch continues to add bankers to its team.
Bank of Singapore has also tapped into rising interest from Chinese conglomerates and investors in wealth and investment opportunities inside Dubai. To facilitate this, the bank has organised visits to Dubai for investors and senior financial institution executives from China, while its DIFC branch offers dedicated Chinese coverage to serve this growing client segment.
Relatedly, Moo points to a parallel trend of Middle Eastern clients seeking Asian markets for custody and investment, with special emphasis on the Association of Southeast Asian Nations (ASEAN). “I really feel like that’s where the next alliances will be built,” he said, underscoring the bank’s strategic use of parent company OCBC Group’s network across Greater China and ASEAN to support clients exploring these markets. The comments also touch on family offices, whose allocation and diversification approaches are shifting toward more institutional practices.
Khaleej Times reports the same event, framing Dubai and Singapore not as competitors but as complementary gateways that link Asia, the Middle East and beyond. The outlet underscores the bank’s focus on expanding investment links while also integrating AI into private banking practices. Khaleej Times’ article points out that the CEO highlighted the importance of technology and artificial intelligence in reshaping how wealth is managed, and how these tools can help cater to the evolving needs of families and businesses.
Both sources converge on the idea that the two financial hubs are poised to grow during the coming decade, with plenty of wealth available worldwide. Moo stresses that the relationship is one of mutual benefit: “As clients diversify where their assets are held and managed, I see room for both Singapore and Dubai to grow over the coming decade.” The emphasis on AI is a shared theme, suggesting a broader regional movement toward tech‑enabled wealth management.
While WAM stresses that the complementary roles are designed to avoid territorial cannibalisation and focus on geographic and market advantages, Khaleej Times presents the relationship as a collaborative partnership enhancing cross‑regional access and support for multinational clients.
