- Raffles Financial Group (CSE:RICH) is now working with the Bank of Montreal Private Bank Asia, to source new clients
- Through the agreement, the Bank of Montreal will help Raffle’s subsidiary, Raffles Financial Pte, to identify potential clients
- Both companies work with ultra-high net worth clients, with Raffles specialising in family trust management, and advising on custodian and private banking accounts
- In addition, Raffles has gained approval to list on the Canadian Securities Exchange under the ticker code “RICH”
- On its first trading day, Raffles Financial Group (RICH) is holding steady, with shares trading for C$5.25
Raffles Financial Group (CSE:RICH) is now working with the Bank of Montreal Private Bank Asia, to source new clients.
Through the agreement, the Bank of Montreal will help Raffle’s subsidiary, Raffles Financial Pte, to identify potential clients.
Raffles Financial specialises in wealth management for ultra-high net worth individuals. The company advises on management of family trusts, as well as on custodian and private banking accounts.
The Bank of Montreal Private Bank Asia, already advises ultra-high net worth clients on investment advisory services, banking services and trust and family office solutions.
Therefore, the the Bank of Montreal’s client base is well suited to merge with Raffles Financial Group’s client services.
Monique Chan, CEO of the Bank of Montreal Private Bank Asia, is happy the two companies will be working together.
“We are delighted that Raffles Financial has established a relationship with BMO Private Bank to identify clients who need private banking, wealth planning, and investment services,” she said.
Dr Charlie In, Chairman of Raffles Financial Group, is also confidant that the two companies are well suited.
“We believe that the BMO and Raffles synergy will provide clients with a comprehensive and customized suite of corporate finance, investment and private banking solutions to meet their diverse requirements,” he said.
Alongside this news, Raffles announced that it has gained approval to list on the Canadian Securities Exchange. The company will list under the ticker code “RICH” and expects to commence trading today.
Late last month, Raffles Financial Group managed to raise C$20 million through a private placement. The company sold four million shares at a price of $5.00 per share.
Raffles Financial Group (RICH) is holding steady, with shares trading for $5.25 at 12:37am EDT.