OCBC Boosts Hiring for Indonesia Wealth Business as Assets Rise

June 23, 2026 - 06:50

Oversea-Chinese Banking Corp. is stepping up its presence in Indonesia by planning to double the number of wealth advisers in the country. The move is part of a wider expansion strategy following the Singapore-based lender's agreement to acquire HSBC Holdings Plc's assets in Indonesia.

The bank aims to capture a larger share of the growing wealth management market in Southeast Asia's largest economy. Rising incomes and a expanding middle class have fueled demand for investment products, insurance, and estate planning services. OCBC's decision to boost its advisory team comes as total assets under management in its Indonesian wealth business have climbed significantly.

The expansion will focus on hiring local talent who understand the nuances of the Indonesian market. These advisers will be responsible for serving high-net-worth individuals and affluent clients, offering tailored financial solutions. OCBC already operates a network of branches in major Indonesian cities, and the new hires will help deepen client relationships.

The acquisition of HSBC's assets is expected to close later this year, pending regulatory approvals. Once completed, OCBC will gain access to additional customer accounts and a broader product portfolio. The bank sees Indonesia as a key growth driver for its regional wealth management ambitions, competing with other foreign and local lenders that are also expanding their advisory forces.

Industry analysts note that the wealth management sector in Indonesia remains underpenetrated compared to peers like Singapore and Malaysia, leaving room for growth. OCBC's aggressive hiring signals confidence in the country's long-term economic prospects, even as global interest rates and inflation create headwinds for some asset classes. The bank has not disclosed a specific timeline for the hiring target but confirmed that recruitment is already underway.