DBS front runner for Barclay’s HK and Singapore wealth units

Added 22nd March 2016

Singapore’s DBS Group is reported to be the front runner to buy Barclay’s Hong Kong and Singapore private wealth units, reports the Straits Times.

DBS front runner for Barclay’s HK and Singapore wealth units

Last month it was announced that DBS, Oversea-Chinese Banking Corp (OCBC), and Swiss-headquartered Julius Baer had submitted non-binding bids for Barclay’s Asian private wealth business.

Two horse race

An anonymous source told the Straits Times that the only other bidder left in the race is the OCBC. But they have cautioned that a final deal has not yet been agreed.

The private wealth business has been valued at around $600m. The buyer of the business would have access to £20bn worth of private client assets.

African sale

Earlier this month, Barclays announced its intention to sell its majority stake in its African business, Barclays Africa over the next two-to-three years, as it faces regulatory pressure over capital requirements and FX erosion. 

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address


FSA Investment Forums: Singapore & Hong Kong 2016

Singapore, Tuesday 25th October

Hong Kong, Thursday 27th October

FSA Investment Forum: Manila 2016

Wednesday 23rd November