DBS and Samsung Securities have signed a Memorandum of Understanding (MOU) to establish a strategic partnership in wealth management.

Under the MOU, DBS and Samsung Securities will explore four areas of collaboration, with detailed terms to follow in the strategic partnership agreement, according to a statement by DBS.

It will enable DBS clients to invest in solutions offered by Samsung Securities, offer Samsung Securities clients access to DBS’ multi-asset global wealth solutions, provide access to serve clients’ global wealth management needs, and facilitate joint learning and innovation development in areas such as AI and thought leadership in wealth management.

Park Jong-moon, president and CEO of Samsung Securities, said: “This partnership marks an important milestone in connecting Korean investors to global markets and bringing global opportunities to our clients. By pairing Samsung Securities’ strength in Korea’s capital markets with DBS’ regional and global wealth platform, we can offer clients a more connected and differentiated wealth experience — and reinforce Korea’s place at the heart of Asia’s wealth ecosystem.” 

DBS CEO Tan Su Shan said: “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. We see wealth management as just the start. Over time, we hope to bring the full strength of DBS as One Bank to serve clients across their wealth and business alike.”