DBS is dramatically increasing staff numbers in its wealth management business as Singapore’s biggest bank tries to attract rich Chinese clients keen to move their money overseas.
The bank hired 80 relationship managers focused on the north Asia market in 2024, with nearly half based in Singapore. People with knowledge of its plans said it intended to recruit at least 30 more in the year ahead.
DBS is seeking to capitalise on Singapore’s growing importance as an offshore centre for wealth management and on the city-state’s booming family office sector.
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