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DBS Pushes Ahead With Integrating ANZ Wealth, Retail Businesses In Asia

Tom Burroughes

8 August 2017

in five markets: Singapore, Hong Kong, China, Taiwan and Indonesia.

“This migration will further cement our leadership position in Singapore. It also gives ANZ’s wealth customers access to more tailored solutions and a full suite of universal banking products supported by Asian insights, research and investment advice,” Tan Su Shan, group head of consumer banking and wealth management of DBS, said.

The DBS/ANZ deal has been among the latest in flurry of acquisitions in the region’s wealth management arena, as some non-Asia banks, such as Barclays, ABN AMRO and Societe Generale have sold businesses that were not seen as reaching sufficient scale to be profitable.