DBS eliminates a dozen brokerage jobs

Singapore

DBS Group Holdings Ltd has cut at least 12 roles across Asia at its brokerage unit - the latest bank to shrink its trading desk as volumes slump.

DBS Vickers Securities is rationalising its institutional business unit as it seeks to be "more competitive and responsive to market changes", the brokerage arm of South-east Asia's largest lender said in an emailed response to questions.