DBS, Samsung Securities ink MOU to advance wealth management collaboration across Asia

[SINGAPORE] DBS and Samsung Securities on Thursday (Jul 2) signed a memorandum of understanding (MOU) to collaborate in wealth management, to enhance their services for clients in Asia.

The two parties will work together in four areas.

First, DBS clients will gain access to the South Korean market through investments in solutions offered by Samsung Securities.

Second, broader global solutions will be available to clients of Samsung Securities, including access to the Singapore lender’s multi-asset global wealth solutions.

Third, in terms of client connectivity, advisory services will be offered to serve clients’ global wealth management needs.

Fourth, the two will facilitate joint learning and innovation development in areas such as artificial intelligence and thought leadership in wealth management.

Park Jong-moon, president and CEO of Samsung Securities, said: “By pairing Samsung Securities’ strength in South Korea’s capital markets with DBS’ regional and global wealth platform, we can offer clients a more connected and differentiated wealth experience.”

The signing of the MOU comes as clients increasingly seek professional advice to grow their wealth and businesses, and as Asia cements its place as a global wealth management hub.

Tan Su Shan, CEO of DBS, said: “Asia is fast becoming the world’s wealth engine, and clients increasingly want to manage their wealth seamlessly across markets.”

She added that she sees wealth management as “just the start”.

“Over time, we hope to bring the full strength of DBS as one bank to serve clients across their wealth and business alike.”