Thailand

DBS announces strategic partnership in Thailand

DBS Banking Group has announced the partnership between DBS Private Bank Singapore and DBS Vickers Securities, the Thailand-based wholly owned subsidiary of DBS, as part of the group’s strategy to double its assets under management and relationship manager headcount in the region by the year 2023.

DBS Vickers Securities currently offers clients a range of onshore wealth management services, which include bonds, structured notes, equities and funds.

The partnership will allow Thai clients access to offshore offerings, namely investment products, as well as philanthropy and succession planning advisory.

Through the partnership, DBS Vickers Securities hopes to increase its RM headcount to 70, and its wealth AUM to over USD5.8 billion by 2023; DBS Vickers Securities will become a one-stop locale, offering clients both onshore and offshore opportunities.