DBS’s recent offer to buy Societe Generale’s private banking operations in Singapore and Hong Kong, as well as certain other parts of the French bank’s trust business in Asia, should come as no surprise to FinanceAsia readers.
It is in line with the stated aspirations of many of Asia’s regional banks. If you pay attention to the public announcements of ambitions to grow in the region, mergers and acquisitions are a key part of the story, along with organic growth and targeted headhunting of key relationship managers.
MA, clearly, will likely drive the fastest gains DBS forecasts that the purchase should increase its high-net-worth...
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