DBS Group is seeking to more than double its wealth management assets to about S$1 trillion by 2030 as it accelerates expansion in Asian markets.
According to Jin10, foreign media reported that the bank plans to add at least 600 employees and open 18 new wealth management centers in its core markets of Singapore and Hong Kong.
DBS Group said its S$1 trillion target reflects an ambition to rank among large global asset managers alongside institutions such as UBS Group, Morgan Stanley, and JPMorgan that manage more than $1 trillion in client assets.
The report said DBS Group’s positioning differs in that its target clients include not only ultra-high-net-worth individuals but also mainstream millionaires and clients below that level, a segment that is expanding rapidly in emerging Asian economies.
To reach S$1 trillion, DBS Group would need to roughly double its wealth management assets from about S$492 billion in the first quarter of 2026 over the next five years.
DBS Group Targets S$1 Trillion in Wealth Management Assets by 2030
2026-07-15 02:25:42
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