DBS to Open 18 Wealth Centres Across Asia as Affluent Demand Grows

§ 01 Executive Snapshot

• What: DBS is set to open 18 new wealth centres across Asia by 2027 in response to growing demand for wealth management services.
• Who: DBS Bank, affluent clients in Asia, Sanjoy Sen (Group Head of Consumer Banking at DBS).
• Why it matters: This expansion reflects a strategic response to the increasing affluent wealth pool in Asia, projected to reach $4.7 trillion by 2026, while emphasizing the value of personal advisory services.

§ 02 Key Developments

• DBS will upgrade 36 existing wealth centres within the next 18 months.
• The new centres will be located in Singapore, Hong Kong, mainland China, India, Indonesia, and Taiwan.
• The expansion marks the largest physical growth of DBS's wealth franchise to date.
• In Singapore, the Treasures wealth centre footprint will increase by 50% with the new openings.
• DBS's wealth assets under management reached SGD 492 billion in Q1 2026, surpassing the SGD 500 billion target over a year ahead of schedule.

§ 03 Strategic Context

• The affluent wealth pool in Asia includes households with investible assets ranging from $100,000 to $1 million, reflecting a significant market opportunity for wealth management firms.
• Despite the rise of digital wealth platforms, many clients still prefer in-person advisory, highlighting a hybrid model in wealth management.

§ 04 Strategic Implications

• The immediate consequence of this expansion is enhanced accessibility to wealth management services for affluent clients in key Asian markets.
• Long-term, the focus on personal advisory may strengthen client relationships and loyalty, driving further growth in wealth management assets.

§ 05 Risks & Constraints

• Potential risks include competition from digital-only wealth management platforms that may attract price-sensitive clients.
• Regulatory challenges in different jurisdictions may impact the rollout of new centres and services.

§ 06 Watchlist / Forward Signals

• The first new wealth centres are expected to open in Q3 2026, with additional openings continuing through 2027.
• Monitoring client feedback and engagement levels in the new centres will be critical to assess the success of this expansion.