DBS plans to hire an additional 100 wealth management advisors in Hong Kong within three years

DBS Group plans to hire an additional 100 wealth management advisors in Hong Kong within the next three years and will establish a new wealth management center in Hong Kong next year to cope with the growing trading demands in the regional market.

Ajay Mathur, Director of Retail Banking and wealth Management for DBS Bank in Hong Kong, said in an interview with the South China Morning Post that in recent times, clients with investable assets of more than HK $1 million have become more active in the financial market.

MAO Anjie said that fluctuations in asset markets such as stocks, bonds and currencies have stimulated investment willingness and prompted banks to expand their relevant service staff.

MAO Anjie also disclosed that in the first quarter of this year, DBS Bank's wealth management income from Hong Kong increased by 86% compared with the same period in 2023. In addition, following the opening of the first "DBS Wealth Management Centre" in Hong Kong last year, DBS Hong Kong plans to set up a second financial center next year to further offer services such as insurance and financial planning.

In response to the above report, DBS Bank said on Monday (June 16) in response to Lianhe Zaobao's inquiry that its view on the retail banking market and the related recruitment plan are limited to the Hong Kong market.