Singapore's DBS to open 18 new Asian wealth centres, expand advisory push

The expansion will span Singapore, Hong Kong, mainland China, India, Indonesia, ⁠and Taiwan. In Singapore, DBS said its Treasures wealth centre footprint will increase by 50% with the new openings.

The move comes as Asia's affluent wealth pool - households with $100,000 to $1 million in investible assets - is projected to reach $4.7 trillion in 2026.

Despite a shift toward digital tools, surveys in Hong Kong and Singapore show roughly 45% of clients still meet advisers face-to-face, it added.

DBS, which has repositioned its wealth franchise as ‌a ⁠key growth engine, said the new centres are designed to deepen relationships rather than handle routine transactions.

In Singapore and Hong Kong, the two largest wealth markets, the centres will primarily serve Treasures clients, while in other markets they will ⁠cater to both Treasures and higher-tier Treasures Private Client segments.

The expansion follows strong momentum in DBS' wealth business. DBS said wealth assets under management reached S$492 ⁠billion in the first quarter of 2026.

"What clients tell us… is that the relationship should feel personal, familiar and close to home," ⁠said Sanjoy Sen, group head of consumer banking.

The first wave of openings is expected from the third quarter, with further launches phased through 2027.