Best Private Bank in Singapore - DBS Bank

The aim of DBS Bank to consolidate its position as Singapore’s largest and one of Asia’s leading institutions will be backed by a move of its headquarters to the newly-constructed Marina Bay Financial Centre in the second half of 2012. The new premises, where DBS will occupy 18 floors, will allow the area dedicated to DBS Private Bank to expand by about a third, compared to existing space at the now outdated PWC building in the city centre.

“The extra room will give us the flexibility to increase our headcount,” says Su Shan Tan, group head of Wealth Management at DBS Bank and a bright, charismatic leader, well-known in Singapore’s media.

A recent investment of S$250m(€143m) over five years will take “private banking in Asia to a new level”, believes Ms Tan, responding to the region’s rapid rise in wealth creation, particularly in the affluent sector. Online banking will be a key part of this new resource.

While DBS is ubiquitous in Singapore, where its brand is all-pervasive, it has been criticised by consultants and investors for not having enough ambition across the region. Ms Tan is trying hard to refute these criticisms and address the imbalances, including leveraging the DBS Treasures Private Client platform from Singapore for the Hong Kong market. The idea is to combine the best of transactional banking with investment advisory services. YB