Raffles Financial Group Limited (CSE:RICH) has announced a strategic partnership with Bank of Montreal’s private Asian bank to help the firm identify new clients.
The Singapore-based firm said Monday that its subsidiary Raffles Financial Pte Ltd signed the agreement with Bank of Montreal Private Bank Asia (BMO PBA) to give clients a complete suite of investment and private banking solutions starting from public listing services to family trusts and portfolios.
BMO PBA’s Hong Kong and Singapore branches provides ultra-high net worth individuals with investment advisory services, discretionary investment management and banking along with trust and family management solutions.
READ: Explorex Resources becomes Raffles Financial Group after closing acquisition and mineral assets spin-out
"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," Charlie In, chairman of Raffles Financial Group said in a statement.
"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," Monique Chan, CEO, BMO PBA told investors.
Raffles said that BMO PBA had congratulated the advisory firm on its recent public listing on the Canadian Securities Exchange. The firm’s shares were approved for listing on the CSE and expects to begin trading under the ticker symbol ‘RICH’ as of today.
Raffles Financial, which offers financial advisory services in the Asia Pacific region, was formed after Explorex Resources Inc (CSE:EX) (OTCMKTS:EXPXF) closed a deal to acquire the Singapore-based company.
Vancouver-based Explorex's mineral assets plus C$500,000 in cash were spun out to Origen Resources Inc, which plans to go public on the Canadian Securities Exchange shortly.
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