DBS Sees Rich European, US Clients More Interested in Asia

Wealthy clients in Europe and the US are hunting for investment and wealth management options in Asia to shield their portfolios from volatility that’s here to stay, according to DBS Group Holdings Ltd.’s head of private bank.

The rich from these regions are seeking to invest in businesses while some are looking for a secondary family office in Asia, said Joseph Poon at the Financial Times’ wealth management conference in Singapore. There’s a “a much stronger sense of caution all round” given the rocky geopolitical climate, rising energy costs and increasingly interconnected capital flows, he said.