DBS and Samsung Securities have entered a memorandum of understanding (MOU) on a wealth management partnership aimed at clients across Asia.
The arrangement links Samsung Securities’ role in South Korea’s capital markets with DBS’s wealth management platform, increasing the range of services available to customers in their home markets.
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Under the MOU, the two firms plan to examine four areas of possible cooperation, with fuller terms to be set out later in a strategic partnership agreement.
Samsung Securities president and CEO Park Jong-moon said: “This partnership marks an important milestone in connecting Korean investors to global markets and bringing global opportunities to our clients.
“By pairing Samsung Securities’ strength in Korea’s capital markets with DBS’ regional and global wealth platform, we can offer clients a more connected and differentiated wealth experience — and reinforce Korea’s place at the heart of Asia’s wealth ecosystem.”
One area under discussion is access for DBS customers to investment products provided by Samsung Securities in the South Korean market.
Another is access for Samsung Securities’ customers to DBS’s multi-asset international wealth offerings.
The firms also plan to look at advisory support for clients with cross-border wealth management needs, as well as the sharing of knowledge and capabilities, including work related to AI and wealth management research.
DBS CEO Tan Su Shan said: “Asia is fast becoming the world’s wealth engine, and clients increasingly want to manage their wealth seamlessly across markets. We are delighted to partner Samsung Securities, a like-minded leader that shares our belief in putting clients first and in connected markets.
“By bringing together Samsung Securities’ leadership in Korea’s capital markets and DBS’ global platform, we can offer clients in both markets investment opportunities of a calibre few can match across Asia and beyond. We see 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.”
Last month, DBS revealed plans to open 18 wealth centres in Asia by the end of 2027 and renovate 36 existing locations over the next 18 months.
The planned expansion and refurbishment will span Singapore, Hong Kong, mainland China, India, Indonesia and Taiwan.
