DBS Eliminates a Dozen Jobs at Brokerage as Trading Slumps
- Brokerage arm of Singapore bank says staff may be redeployed
- Value of shares traded in city-state down 24% from 2013
Employees inside the social hub at DBS Bank's headquarters.
Photographer: Munshi Ahmed/BloombergThis article is for subscribers only.
DBS Group Holdings Ltd. cut at least 12 roles across Asia at its brokerage unit, the latest bank to shrink its trading desk as volumes slump.
DBS Vickers Securities is rationalizing its institutional business unit as it seeks to be “more competitive and responsive to market changes,” the brokerage arm of Southeast Asia’s largest lender said in an e-mailed response to questions. Affected employees will be offered opportunities to be redeployed within the bank, according to the brokerage.