DBS has signed a MoU with South Korea’s Samsung Securities to establish a strategic partnership in wealth management.
The collaboration pairs Samsung Securities’ presence in the Korean capital markets with the global wealth platform of DBS to broaden cross-border investment options for clients.
The two financial institutions will focus on four key areas of collaboration.
DBS clients will gain access to the South Korean market through investment solutions provided by Samsung Securities.
In return, Samsung Securities clients will be able to tap into the multi-asset global wealth solutions offered by DBS.
The firms will also explore providing joint advisory services to support clients’ global wealth management needs.
Additionally, they will explore knowledge sharing and joint innovation in areas such as AI and wealth management thought leadership.
As affluent clients increasingly seek professional advice to grow their wealth, the partnership is intended to broaden cross-border investment opportunities for clients of both institutions.
“This partnership marks an important milestone in connecting Korean investors to global markets and bringing global opportunities to our clients,”
said Park Jong-moon, President and CEO of Samsung Securities.
DBS CEO Tan Su Shan noted that Asia is rapidly becoming the world’s wealth engine. She added that clients increasingly want to manage their assets seamlessly across different markets.
“By bringing together Samsung Securities’ leadership in Korea’s capital markets and DBS’ global platform, we can offer clients in both markets investment opportunities of a calibre few can match across Asia and beyond,”
Tan Su Shan said.
She added that wealth management is just the starting point, with DBS aiming to eventually bring its full suite of corporate and wealth services to clients under this partnership.
Featured image credit: Edited by Fintech News Hong Kong, based on image by DBS
This article first appeared on Fintech News Singapore