DBS Targets Trillion-Dollar Wealth Milestone by 2030

The bank’s strategy hinges on a projected S$400 billion increase from its 2025 year-end figure of S$632 billion. To achieve this, DBS is aggressively scaling its workforce, planning to hire more than 600 relationship managers and platform engineers by 2028. These recruits will be deployed across key markets, including Singapore, Hong Kong, China, India, Indonesia, and Taiwan, to bolster both frontline advisory services and the underlying digital infrastructure.

Shee noted that the bank is betting on the rise of Asian affluence and the steady migration of wealth toward the region. As of May, the bank reported a 20% year-on-year increase in newly onboarded high-net-worth and ultra-high-net-worth clients. Beyond human capital, the lender is executing its largest physical expansion to date, with plans to open 18 new wealth centers and upgrade 36 existing locations by 2027. This dual approach of physical presence and AI-driven onboarding is designed to capture a diverse client base across the wealth spectrum.