DBS wins top awards for private banking

DBS Bank's group head of consumer banking and wealth management, Tan Su Shan, was recognised as the world's Best Leader in Private Banking at the PWM Global Private Banking Awards 2014, a first for a Singaporean. DBS also beat out other banks in the world to be named the Best Private Bank in Use of Technology.

In addition, DBS received the Best Private Bank in Singapore accolade for the fifth consecutive year.

At the same awards in Geneva, UBS was named Best Global Private Bank, Best Private Bank in Asia and Best Global Brand in Private Banking for the second time in succession.

This year, UBS also won the accolade for Best Private Bank for Philanthropy Services. Its its third-quarter 2014 results announced on Tuesday, UBS Wealth Management Asia Pacific had total invested assets of 258 billion Swiss francs (S$345 billion) from Asia Pacific.

It also had net new money for Asia Pacific at 7.8 billion Swiss francs, a 13.1 per cent growth year on year.