DBS: Optimistic about Asian wealth management demand, to add 18 wealth management centers by 2027

Taipei, June 18 (CNA) Optimistic about the demand for wealth management in Asia, DBS Group announced today that it expects to add 18 new wealth management centers in Asia by 2027 and will complete the comprehensive upgrade of 36 existing wealth management centers within the next 18 months.

DBS Group stated in a press release today that with the global center of wealth accelerating its shift to Asia in recent years, coupled with the AI wave further boosting wealth accumulation, the demand for wealth management in the region continues to rise.

DBS Group explained that this expansion plan will cover six core markets: Singapore, Taiwan, Hong Kong, China, India, and Indonesia. Among these, wealth management centers in key markets, including Taiwan, will simultaneously serve "DBS Treasures" and "DBS Treasures Private Client," and extend services to "DBS Private Bank."

Currently, DBS Bank has already launched wealth management business operations covering all customer segments in Taiwan, including "DBS Private Bank" for clients with total assets of NT$100 million or more, "DBS Treasures Private Client" for clients with total assets equivalent to NT$30 million or more, and "DBS Treasures" for clients with total assets of NT$3 million.

DBS Group stated that as of the first quarter of this year, the group's wealth management assets under management reached S$492 billion (approximately NT$12 trillion), exceeding the original target of S$500 billion by more than a year. Furthermore, as many as 40% of new DBS Private Bank clients come from asset upgrades by existing clients, reflecting DBS's achievements in customer relationship management and long-term value creation.

DBS Group explained that the first batch of new wealth management centers is expected to open gradually starting from the third quarter of 2026, with the remaining locations to be activated in phases by 2027.

Sanjoy Sen, Head of Consumer Banking Group at DBS, said that in addition to professional wealth management services, clients also hope to have partners who understand them, are trustworthy, and can accompany them through different stages of life; this is true whether they are opening their first investment account in Hong Kong, planning wealth succession in Singapore, or managing cross-border assets in Taipei.

He explained that the establishment of wealth management centers is not only to expand the service footprint but also to bring services closer to customers, providing professional support that better meets their needs in their living, working, and life goal-achieving environments. (Editor: Zhai Sijia) 1150618

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