Singapore
AFTER marathon talks over seven to eight months involving several broking firms, heavyweight remisiers at DBS Vickers Securities have finally brokered a deal with UOB Kay Hian.
Under the deal, the remisiers and their colleagues - who have become friends over decades - totalling about 100, will have a new home by late October at UOB Kay Hian, one of Asia's largest brokerages, which is backed by the UOB Group.
Though clients brought in by remisiers legally belong to the house, DBS Vickers nevertheless agreed to transfer its offline retail securities brokerage business to UOB Kay Hian by the completion date on Oct 28, 2019. Hybrid clients, using online and offline services, will be given...