DBS has announced a significant expansion of its wealth management services, with plans to open 18 new wealth centres across Asia by the end of 2027. The bank will also upgrade 36 existing centres over the next 18 months, enhancing its presence in Singapore, Hong Kong, mainland China, India, Indonesia, and Taiwan. This move aims to cater to the growing demand for wealth management among affluent clients seeking closer relationships with their banks.
The expansion represents DBS’s largest physical growth in its wealth franchise to date. Sanjoy Sen, Group Head of Consumer Banking at DBS, highlighted the importance of personal relationships in banking, stating, “What clients tell us, more than anything else, is that the relationship they want with their bank should feel personal, familiar and close to home.”
The new wealth centres will be designed to support clients’ entire wealth journey, offering services from portfolio advisory to sophisticated wealth solutions. They will also provide spaces for relationship managers to engage in meaningful conversations with clients, focusing on long-term wealth planning and multi-generational discussions.
DBS’s decision comes as Asia’s affluent wealth pool is projected to reach $4.7t by 2026. Despite the rise of digital platforms, many clients still value face-to-face interactions, with surveys indicating that nearly half of respondents in Hong Kong and Singapore prefer in-person meetings with their relationship managers.
The first of the new wealth centres is expected to open in the third quarter of 2026, with further details on market-specific launches to be announced in the coming months.
