DBS Group, Singapore’s largest bank, has set a target to grow assets under management in its wealth business to more than $774 billion by 2030. This goal spans the lender’s retail and wealth segments, marking an increase of about $400 billion from $632 billion in wealth assets under management at the end of 2025.
Wealth Growth in Asia
The bank is betting on rising Asian wealth and inflows into regional financial hubs. According to Shee Tse Koon, DBS’s group executive and group head of consumer banking and wealth management, the bank plans to achieve this goal by leveraging macro trends such as the rise of wealth in Asia and the shift of wealth into Asia.
DBS has seen a 20% rise in newly onboarded high-net-worth and ultra-high-net-worth clients as of May, compared to the same period last year. The bank is also planning to hire over 600 relationship managers and platform engineers by the end of 2028, mainly across its core markets of Singapore, Hong Kong, China, India, Indonesia, and Taiwan.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
