DBS CEO sees wealth management business as key growth driver

Singapore

LENDER DBS Group is expanding its wealth management business and expects the segment will account for as much as a fifth of its revenues in a few years as it capitalises on a trend of Asia growing richer, its CEO Piyush Gupta said.

South-east Asia's largest bank by assets, which has broken into the ranks of the top-five private banks in Asia helped by medium-sized acquisitions, will look for more "bolt-on" purchases to grow its wealth business, Mr Gupta told Reuters in an interview, ahead of a Reuters Newsmaker on Thursday.