DBS group plans major revamp of DBS Vickers

Singapore

DBS BANK is revamping its retail stock-brokerage operations and exploring alternative models to its current broking arm DBS Vickers - with a view to providing customers with more holistic services.

Responding to queries from The Business Times on market rumours that DBS Vickers will be shut down, the bank's spokesman said: "The equities trading business is critical to DBS and we have no plans to shut it down. We are currently exploring different business models with a view to delivering a stronger customer proposition with minimal employee impact. We are working through the details and more will be shared at a later stage."