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'Sunset' brokerage model must change: DBS chief

THE "sunset industry" that is the brokerage business will have to move into the digital age, as commissions continue to shrink, said DBS chief executive Piyush Gupta at the bank's shareholders' meeting on Thursday. Responding to a shareholders' question that touched on competition for DBS Vickers, Mr Gupta noted that customers in time will need to transact on their own. "Brokerage is a sunset ind...


Singdollar bond market on track for another big year

THE multi-year bull party for Singapore bonds shows no sign of slowing as investors look for yield in a market where demand continues to outstrip supply. The rally is also drawing more foreign issuers, with the largest foreign deal sold last week since 2015. The Markit SGD corporates total-return index touched a new high of 121.0897 on April 21 with hardly a breather in the past four weeks. It ea...


China's largest private bank opens S'pore unit, eyes US$30b AUM in three years

CHINA Merchants Bank, the country's largest private bank by assets, may manage as much as US$30 billion at its Singapore outfit in three years, as it rides the wave of growing wealth of Chinese businessmen, a senior executive from the bank told The Business Times. The bank on Wednesday launched its unit in Singapore as a means to track the large swathe of Chinese nationals looking to set up busin...


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