DBS group plans major revamp of DBS Vickers
Bank exploring alternative models for its broking arm
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Angela Tan
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."
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