Founded in 1964, PSB Academy is a highly-ranked private institution of higher education in Singapore. Initially, it was a sub-division of the National Productivity Board named the Management Services Supervisory Development division. In the year 1988, the division was formalised into a full-fledged institution under the name Institute for Productivity Training. In 2001, the institution was transformed into an independent organisation and privatised in the year 2006. Intermediate Capital Group has the ownership of the Academy since 2018. It has accreditation from the Committee for Private Education Singapore.