Business Standard

Are the ultra-rich ready for Singapore after Credit Suisse's collapse?

If it looks like the US is halting its monetary-tightening campaign because disinflation is on the horizon, risk sentiment may start improving

DBS. Photo: Bloomberg

Photo: Bloomberg

By Andy Mukherjee

On a conference call last month, Piyush Gupta, the chief executive officer at DBS Group Holdings Ltd., said that he was hoping to garner at least 1 percentage point revenue growth by managing more money for the super rich. His wish may be about to be fulfilled. Now that Credit Suisse Group AG has been swallowed up, some of the ultra-high-net-worth individuals and their family offices will look beyond the default option of using its rescuer UBS Group AG for all their wealth management needs — especially if they’re already clients of the bigger Swiss bank.  

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First Published: Mar 21 2023 | 10:27 AM IST

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