SINGAPORE, March 2 DBS Group Holdings Ltd
expects to expand its wealth management operations as
Asia's wealth grows, accounting for as much as 20 percent of the
bank's total income over the next few years, Piyush Gupta, the
chief executive of Southeast Asia's largest bank by assets,
"Our (wealth management) business has doubled in the last 5
or 6 years and is close to 15 percent of DBS's top line income.
Our ambition in the next few years is to get it to 20 pct of the
bank," said Gupta, ahead of a Reuters Newsmaker in Singapore on
Under Gupta, 57, who took over the reins in 2009, DBS has
more than doubled its profits, broken into the ranks of top five
private banks in Asia Pacific and turned around its
underperforming Hong Kong unit.
(Reporting by Marius Zaharia and Anshuman Daga; Editing by
Clara Ferreira Marques)