Geopolitical Risks Drive Asian Wealth Management Opportunities; DBS Lim Say Boon Analyzes Taiwan-Singapore Advantages
Amid rising geopolitical risks, DBS Bank (Singapore) CEO Lim Say Boon noted increasing demand for Asia-centric wealth management platforms. He highlighted Singapore's strengths in "Trust," "Tech Infrastructure," and "Talent" (the "3 Ts"), and analyzed Taiwan's advantages. DBS Bank is strengthening its presence in Taiwan, including establishing a wealth management zone in Kaohsiung.
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- 📰 Published: May 8, 2026 at 21:21
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Central News Agency
(Central News Agency reporter Wu Sheng-hung, Singapore, 8th) With rising geopolitical risks and market volatility, Lim Say Boon, CEO of DBS Bank (Singapore), told the Central News Agency that more and more clients are seeking Asia-centric wealth management platforms. Singapore's ecosystem of financial technology talent is a highlight; this executive, once called by the media "the most Taiwanese foreign bank general manager," also used the letters TAIWAN to analyze Taiwan's advantages.
Lim Say Boon is Singaporean. In 2018, he was seconded to Taiwan as the General Manager of DBS Bank (Taiwan), where he oversaw the acquisition of Citibank's consumer banking business in Taiwan, strengthening DBS Bank's position as Taiwan's largest foreign bank. In 2023, he returned to Singapore to be promoted to Group Chief Strategy Officer of DBS Group, and will take over as CEO of DBS Bank (Singapore) starting in 2025.
This senior executive, familiar with financial market developments in regions such as Singapore and Taiwan, recently accepted an exclusive interview with the Central News Agency. When discussing Singapore's competitiveness, he pointed out that Singapore's greatest assets can be described by "3 Ts": the first is Trust. In an era of rapid AI development, the world is focused on how to build a trustworthy AI ecosystem, and Singapore has long had stable institutions, transparent regulation, and high international credibility, making it suitable to play an important role as a "global AI trustworthy hub."
He said the second is Tech Infrastructure, as Singapore possesses digital finance and technology infrastructure; the third is Talent, as Singapore continues to attract global technology and financial talent, forming a complete talent innovation ecosystem.
Lim Say Boon pointed out that DBS Bank's headquarters in Singapore allows it to fully leverage the advantages of these "3 Ts." In recent years, its wealth management business has shown strong growth momentum, and even with global markets facing challenges such as geopolitical risks, interest rate volatility, and international economic uncertainty, its profitability remains stable, making wealth management one of its important growth engines.
"In the past, high-net-worth clients often prioritized Europe or the United States when choosing private banks, but with rising geopolitical risks and increased global market volatility, more and more clients are beginning to seek Asia-centric wealth management platforms," Lim Say Boon shared. DBS has been rated as one of Asia's safest banks for many years, and "Euromoney" also named DBS the "World's Best Private Bank," the first time a bank headquartered in Asia has received this award, symbolizing the continuous rise of Asian financial strength.
In response to the Taiwanese government's policy of building an Asia-Pacific asset management hub, DBS Bank (Taiwan) has established a presence in the Kaohsiung Asset Management Zone. Lim Say Boon stated that DBS completed the integration of Citibank's consumer banking business in 2023, becoming Taiwan's largest foreign bank, and Taiwan is currently DBS's third-largest market. "We are optimistic about the growth potential of Taiwan's high-net-worth market, and DBS will introduce its experience to help Taiwan connect with other Asian financial centers such as Hong Kong and Singapore in the future."
He believes that Taiwan possesses several very important advantages: Taiwan is a global technology hub (Tech), with a complete and strong technology supply chain and industrial system, enabling rapid development of the AI industry. With industrial upgrading, demand for Industrial Space also continues to increase, further driving Wealth accumulation. He also described Taiwanese people as full of Action and having a "Never say never" spirit, and these letters spell out TAIWAN, which are Taiwan's most representative characteristics.
Lim Say Boon said that through capital investment, cultural exchanges, and client connections, the links between DBS, Singapore, and Taiwan will become even closer in the future. "I am very familiar with Taiwan myself, and I am very happy to see Singapore and Taiwan continue to deepen interaction and cooperation." (Editor: Tang Sheng-yang) 1150508
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(Central News Agency reporter Wu Sheng-hung, Singapore, 8th) With rising geopolitical risks and market volatility, Lim Say Boon, CEO of DBS Bank (Singapore), told the Central News Agency that more and more clients are seeking Asia-centric wealth management platforms. Singapore's ecosystem of financial technology talent is a highlight; this executive, once called by the media "the most Taiwanese foreign bank general manager," also used the letters TAIWAN to analyze Taiwan's advantages.
Lim Say Boon is Singaporean. In 2018, he was seconded to Taiwan as the General Manager of DBS Bank (Taiwan), where he oversaw the acquisition of Citibank's consumer banking business in Taiwan, strengthening DBS Bank's position as Taiwan's largest foreign bank. In 2023, he returned to Singapore to be promoted to Group Chief Strategy Officer of DBS Group, and will take over as CEO of DBS Bank (Singapore) starting in 2025.
This senior executive, familiar with financial market developments in regions such as Singapore and Taiwan, recently accepted an exclusive interview with the Central News Agency. When discussing Singapore's competitiveness, he pointed out that Singapore's greatest assets can be described by "3 Ts": the first is Trust. In an era of rapid AI development, the world is focused on how to build a trustworthy AI ecosystem, and Singapore has long had stable institutions, transparent regulation, and high international credibility, making it suitable to play an important role as a "global AI trustworthy hub."
He said the second is Tech Infrastructure, as Singapore possesses digital finance and technology infrastructure; the third is Talent, as Singapore continues to attract global technology and financial talent, forming a complete talent innovation ecosystem.
Lim Say Boon pointed out that DBS Bank's headquarters in Singapore allows it to fully leverage the advantages of these "3 Ts." In recent years, its wealth management business has shown strong growth momentum, and even with global markets facing challenges such as geopolitical risks, interest rate volatility, and international economic uncertainty, its profitability remains stable, making wealth management one of its important growth engines.
"In the past, high-net-worth clients often prioritized Europe or the United States when choosing private banks, but with rising geopolitical risks and increased global market volatility, more and more clients are beginning to seek Asia-centric wealth management platforms," Lim Say Boon shared. DBS has been rated as one of Asia's safest banks for many years, and "Euromoney" also named DBS the "World's Best Private Bank," the first time a bank headquartered in Asia has received this award, symbolizing the continuous rise of Asian financial strength.
In response to the Taiwanese government's policy of building an Asia-Pacific asset management hub, DBS Bank (Taiwan) has established a presence in the Kaohsiung Asset Management Zone. Lim Say Boon stated that DBS completed the integration of Citibank's consumer banking business in 2023, becoming Taiwan's largest foreign bank, and Taiwan is currently DBS's third-largest market. "We are optimistic about the growth potential of Taiwan's high-net-worth market, and DBS will introduce its experience to help Taiwan connect with other Asian financial centers such as Hong Kong and Singapore in the future."
He believes that Taiwan possesses several very important advantages: Taiwan is a global technology hub (Tech), with a complete and strong technology supply chain and industrial system, enabling rapid development of the AI industry. With industrial upgrading, demand for Industrial Space also continues to increase, further driving Wealth accumulation. He also described Taiwanese people as full of Action and having a "Never say never" spirit, and these letters spell out TAIWAN, which are Taiwan's most representative characteristics.
Lim Say Boon said that through capital investment, cultural exchanges, and client connections, the links between DBS, Singapore, and Taiwan will become even closer in the future. "I am very familiar with Taiwan myself, and I am very happy to see Singapore and Taiwan continue to deepen interaction and cooperation." (Editor: Tang Sheng-yang) 1150508
Stand with the facts, every sponsorship is a force to protect press freedom.
Download the Central News Agency "First-hand News" APP to stay updated with the latest news.
Text, images, and videos on this website may not be reproduced, publicly broadcast, or publicly transmitted and used without authorization.