DBS Group will transfer its retail broking to the bank, leaving DBS Vickers to focus on institutional clients.

At a townhall meeting on Wednesday evening, the senior management of DBS met with its sales representatives from DBS Vickers and shared about its integration strategy, a move the bank has initiated six years ago. The largest bank in Southeast Asia will transfer its retail equity trading under DBS Vickers to the bank by the end of this year.

While the bank is transfering its retail equity trading into the bank by year end, it will be business as usual for retail customers, it said. «DBS Vickers will maintain its broking licence and will continue to focus on its institutional trading business,» said a DBS spokesman who was quoted in the «Business Times» on Thursday.

Transfer of Employees

DBS Vickers has more than 150 mobile brokers and fixed-desk remisiers. Employees of DBS Vickers will be offered new roles in the bank but self-employed trading representatives, or remisiers, may not have that option. The bank spokesman said the bank would try to offer them jobs.

In 2013, DBS became the first Singapore bank to offer banking and broking under one roof, so as to strengthen its wealth proposition.