DBS To Launch Private Bank Product With Sovereign Wealth Fund

Tara Loader Wilkinson

15 January 2012

DBS Group, Singapore’s largest bank, is set to announce a tie-up with a sovereign wealth fund to launch a product for its high net worth clients according to media reports.

The private equity product that will be available to its private banking clients, according to Bloomberg quoting Su Shan Tan, head of wealth management at DBS.

She did not give the name of the state fund. Temasek Holdings Pte, Singapore’s state-owned investment company, is the bank’s biggest shareholder with a 27 percent stake, according to data compiled by Bloomberg.