'Sunset' brokerage model must change: DBS chief

Singapore

THE "sunset industry" that is the brokerage business will have to move into the digital age, as commissions continue to shrink, said DBS chief executive Piyush Gupta at the bank's shareholders' meeting on Thursday.

Responding to a shareholders' question that touched on competition for DBS Vickers, Mr Gupta noted that customers in time will need to transact on their own.