Singapore's largest bank thinks the recent Brexit vote by the U.K. could lead to more business links between Asia and Britain.
Speaking to the «Financial Times» (paywall) Tan Su Shan the Managing Director and Group Head Consumer Banking and Wealth Management at DBS was quoted as saying «Sterling getting cheaper has been an attractive draw to the Asian investor, and with Brexit, the UK may reach out to Asia more as a trading partner.»
In July 2016 DBS announced a new wealth management office in London, which serves ultra high net worth clients and family offices looking to Asia, and Asian clients looking at London and beyond.
Expansion in London
DBS has recently received a U.K. Securities Licence in London and intends to expand its team in the U.K. capital.
Jeremy Parlons is the U.K. Market Wealth Management Head for DBS in London. Parlons specialises in managing wealth for the ultra-high-net-worth (UHNW) community.
Prior to joining DBS he spent four years building RBC Wealth Management London’s exposure to UHNW and Family Office clients as well as working on several cross-banking client transactions and collaboration committees. Before that he spent nine years with Credit Suisse Private Banking in London.
Bridge to Asia
DBS’ London wealth management office is a bridge to Asia for UHNW individuals and family offices seeking to gain exposure to the region for their wealth management needs. The office’s London advisors are supported by global booking hubs in Singapore and Hong Kong.
In addition to Jeremy Parlons who is responsible for the UK market, Vivienne Ng has been hired as a senior relationship manager to service the wealth management needs of the growing Chinese high net worth community in the U.K. Parlons and Ng report into Rob Ioannou, Head of International at DBS Private Bank.
