DBS Bank unveiled its new regional DBS Treasures Private Client platform. It is specially designed to cater to the fast-growing segment of new wealth creators in Asia.
DBS has also been enhancing its private banking platform and the introduction of the Treasures Private Client platform, the latest in a series of initiatives by DBS in the wealth space, underlines the bank’s commitment to continually raising the bar in serving Asia’s rising affluent. The rollout of the DBS Treasures Private Client platform comes amid rapid wealth creation in Asia, which is outpacing that anywhere else in the world. Asia’s new riches are fuelled by rising wages in a tight labour market, capital asset gains and business expansion.
According to Datamonitor, in Singapore and Hong Kong alone, the number of High Net Worth Individuals with USD1-3 million in assets under management will grow by close to 40% to 122,000 over the next 3 years. Their collective wealth is expected to rise by over SGD100 billion by 2013.
Treasures Private Client customers are also able to access the DBS Wealth Management Investment Portfolio, a unique investment tool that enables clients to monitor, leverage and rebalance their portfolios swiftly on their own as markets turn, or to mandate the bank to manage their assets within set guidelines.
Pearlyn Phau, Managing Director and Regional Head of DBS Treasures, said, “The DBS Treasures Private Client, as a new Asian wealth creator, has a unique set of needs that includes Everyday banking and the desire to achieve greater returns with their existing wealth. With the Treasures Private Client platform, these clients will now be able to harness our Asian insights, an expanded suite of investment solutions, and the DBS Wealth Management Investment Portfolio to actively monitor and grow their wealth in a rising Asia.”
Customers on the new platform will be supported by a dedicated team of specialists who are available round-the-clock to provide assistance.
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