DBS ranked 8th largest private bank in Asia-Pacific

A DBS branch at Suntec City.
A DBS branch at Suntec City.PHOTO: ST FILE

SINGAPORE - DBS is now the eighth largest private bank in the Asia-Pacific by assets under management (AUM), bigger even than Morgan Stanley, according to annual rankings released on Friday (Oct 16) by Private Banker International, a journal for the global wealth industry.

"The big mover in 2014 was DBS Private Bank with its AUM growing by 35 per cent year-on-year, which is the most notable change across the rankings," the journal in a statement.

It added: "DBS' acquisition of Societe Generale's Asian private banking business last year added considerably to its AUM. Other factors that contributed to its success are a focus on digital banking, innovation, and the ability to retain customers as their individual wealth grows."

DBS in a separate statement said its AUM for high net worth investors (with investible assets of over $1.5 million) and AUM stood at $92 billion and $133 billion respectively as at end-2014. In the six months to end-June 2015, its AUM grew grew another 6 per cent to around $141 billion currently.

Said Ms Tan Su Shan, DBS Bank's group head of consumer banking & wealth management: "We are delighted to be ranked among the top 10 in Asia and to represent Singapore in the rankings."

ASIA PACIFIC ASSETS UNDER MANAGEMENT OF HNW CLIENTS* (USD BILLION)
    2014 2013
1 UBS Wealth Management 272 245
2 Citi Private Bank 255 238
3 Credit Suisse 145 129
4 HSBC Private Bank  112 108
5 Deutsche Asset and Wealth Management 105 92
6 JP Morgan Private Bank 90 79
7 Julius Baer 75 70
8 DBS Private Bank 73 54
9 Morgan Stanley 70 65
10 BNP Paribas Wealth Management 59 51
11 OCBC (Bank of Singapore) 51 46
12 Standard Chartered Private Bank 46 45
13 Goldman Sachs 45 45
14 Barclays Wealth & Investment Management 36 36
15 LGT Private Bank 22.3 17
16 ABN AMRO Private Banking 20.5 20
17 UOB Private Bank 19.5 17
18 EFG Private Bank 18 16
19 J Safra Sarasin 15

Not Listed

20 RBC Private Bank 13 Not Listed
  TOTAL 1542.3 1373**

SOURCE: PRIVATE BANKER INTERNATIONAL
*HNW clients are those with investable assets of over $1 million. Includes private banks active in Singapore and Hong Kong booking centres.
**Total for 2013 does not include J Safra Sarasin, RBC Private Bank