DBS CEO Tan Su Shan Pivots to Asia-First Strategy, Targets $1 Trillion AUM by 2030

DBS, South-east Asia’s largest bank, will pursue regional growth rather than compete globally, CEO Tan Su Shan said on September 11. The bank is targeting $1 trillion in wealth management assets under management by 2030, up from its current position well below UBS’s $9.25 trillion. Tan identified Asia’s growing capital markets, fast wealth creation, and strong AI adoption as structural tailwinds for the strategy.

Why DBS is abandoning the global bank model

Tan said DBS will not become a global bank like Citi or HSBC. Instead, it will concentrate on where Asia offers structural advantages. She noted Asia has growing capital markets, fast wealth creation, increasing trade, and strong AI adoption. The bank is investing in wealth management, capital markets, and deepening ties with institutional investors including pension funds and sovereign wealth funds.

The $1 trillion wealth management target

DBS is targeting $1 trillion in assets under management by 2030. UBS, the global leader, holds $9.25 trillion. Tan acknowledged DBS still has a large gap to close but said she wants to serve the mass market, not just ultra-high-net-worth clients. The bank has come a long way in growing its wealth business, she added.

Tan rules out politics despite salary debate

Tan, 57, said she is too old to enter politics when asked about joining Singapore’s government. She previously served as a Nominated Member of Parliament from 2012 to 2014. Her total compensation in 2025 was $9.64 million. She called for Singapore to attract diverse private-sector talent to elevate policy debate, though she did not commit herself.

Asia’s capital markets advantage

Tan acknowledged US capital markets remain difficult to beat, citing their ability to create secondary markets quickly and enable fast asset recycling. However, she expressed hope that expanded Nasdaq trading hours would make US markets more accessible to Asian investors without drawing capital away from Asian exchanges. This balance reflects DBS’s dual focus on deepening Asian institutional relationships while maintaining access to global markets.

Final Thoughts

DBS is betting on Asian regional growth over global expansion, with wealth management as a key pillar. The $1 trillion AUM target by 2030 signals the bank’s confidence in the region’s structural tailwinds. Investors should watch whether DBS can close its gap with global wealth managers while competing for mass-market clients.

FAQs

Disclaimer:

The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.