DBS is transforming private banking in Thailand by addressing three major gaps: limited access to global investments, lack of holistic advisory, and absence of succession planning tools.
Bridging the Gaps in Thai Private Banking
Thai clients have long faced structural challenges in wealth management. Most lack access to international investment opportunities, receive fragmented advice from local bankers, and cannot establish trusts due to the absence of trust laws in Thailand.
DBS aims to change this landscape. The bank is hiring and retraining managers to provide comprehensive advisory services. It has also launched a new platform offering global investment options, including alternative investments and hedge funds, tailored to Thai clients’ needs.
Introducing Succession Planning via Singapore
One of the most significant advancements is DBS’ ability to facilitate trust and wealth planning through Singapore. This feature enables Thai clients to address family succession needs despite local legal limitations.
What Makes DBS Different?
“DBS is special because we are one of the very few banks that have a banking license in Thailand. We have bankers that are booking in Singapore, but live and work and interface with our clients in Thailand 24/7,” said the spokesperson.
Measuring Success
DBS’s ultimate goal is to become the largest and most trusted private bank in Thailand. Its key performance indicators focus on delivering holistic solutions across investment, succession, and corporate needs.
About the speaker:
Edwin Tan
CFA, Managing Director and Market Head for Thailand and the Philippines
DBS
Edwin Tan, CFA, Managing Director and Market Head for Thailand and the Philippines at DBS Bank, leads the bank’s wealth management strategy across these key markets. Based in Bangkok, Edwin brings over two decades of experience in private banking and investment advisory, having held senior leadership roles at Credit Suisse, SCB Julius Baer, Deutsche Bank, and Citi. His expertise spans portfolio management, advisory solutions, and ultra-high-net-worth client coverage.
A CFA charterholder and Certified Financial Planner, Edwin also holds a degree in Economics from the London School of Economics. He is recognized for his leadership in delivering tailored investment strategies and driving growth in dynamic markets across Asia.
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5W1H summary:
| Category | Details |
|---|---|
| What | 1. People 2. Process 3. Platform |
| How | 1. Our proprietary digital app 2. Our one-bank deals |
| Why | 1. To rewire bankers 2. To reduce family tensions 3. To plug financing gaps |
| Who | 1. DBS Bank 2. Thai private banking clients 3. DBS relationship managers |
| Where | 1. Thailand 2. Singapore for trust services 3. DBS offices and client locations |
| When | 1. Current initiative 2. Ongoing platform rollout 3. Future growth in Thailand |
Frequently Asked Questions:
1. What challenges do Thai clients face in wealth management?
- Limited access to international investments
- Lack of holistic advisory services
- No trust law for succession planning
2. How is DBS addressing these challenges?
- Hiring and retraining relationship managers
- Launching a global investment platform
- Offering trust and wealth planning via Singapore
3. Why is succession planning difficult in Thailand?
- Thailand lacks a legal framework for trusts
- Clients cannot set up local trust structures
- Cross-border solutions are the only option
4. What makes DBS unique in this market?
- One of few banks licensed in Thailand
- Bankers live and work locally with clients
- Ability to book transactions in Singapore
5. What are DBS’s key goals and KPIs?
- Deliver holistic client-centric solutions
- Grow to be Thailand’s top private bank
- Address investment, succession, and corporate needs
Transcript of the interview:
Our top priority is to service our Thai clients to the best of our abilities. There are three main problems they have.
- One, Thai clients typically don’t have the ability to invest in international solutions.
- Two, they’re typically serviced by local bankers that don’t have the advisory qualities and they tend to be advised in a very non-holistic way.
- Three, they’re not able to avail themselves to succession planning capabilities whilst in Thailand because there is no trust law in Thailand. Now DBS is changing all of that.
We are hiring talented managers rewiring them to make them understand and advise holistically.
We have a new platform that avails all these international investments such as alternative investments, hedge funds, and so on that meet the demand of our Thai clients.
Thirdly, our ability to do trust and wealth planning in Singapore via this new platform gives clients this ability to meet their family succession needs.
What does DBS bring to this conversation uniquely?
DBS is special because we are one of the very few banks that have a banking license in Thailand. We have bankers that are booking in Singapore, but live and work and interface with our clients in Thailand 24/7.
Ultimately, how are you going to be measured? What are your KPIs?
We are a very client-centric bank. Two, we want to be remembered and known as a bank that takes care of our clients’ holistic needs, be it investment needs, wealth planning needs in terms of succession planning, and business needs in terms of corporate needs.
We want to be able to build this business to be the largest and the best private bank in Thailand.