Wealthy Europeans and Americans Turn to Asia for Investment Amid Geopolitical Volatility, Says DBS Private Bank

Gate News message, April 15 — Joseph Poon, head of DBS Group’s private banking division, said wealthy clients from Europe and the U.S. are actively seeking investment and wealth management solutions in Asia to shield their portfolios from prolonged volatility.

Poon noted that high-net-worth individuals from these regions are looking to invest in business ventures, with some considering establishing a second family office (a private wealth management firm serving ultra-high-net-worth families) in Asia. He cited turbulent geopolitical conditions, rising energy costs, and increasingly interconnected capital flows as drivers of heightened caution. Clients coming to the region seek “absolute stability,” he said, adding that they want “an Asian leader, which is us.”

Last year, DBS and its local competitors attracted a combined S$77 billion (approximately $61 billion) in net new wealth assets from affluent clients. This trend may intensify following the outbreak of the U.S.-Iran conflict this year, which has rattled global markets and prompted wealthy families across Asia to reassess where they park their funds.

Poon described volatility as “now a constant, not an anomaly.” He revealed that DBS has been hiring relationship managers, with headcount growing in line with demand, though he did not provide specific hiring targets.