DBS gets nod to set up joint venture securities company in China

SINGAPORE - DBS Group has received the green light from the China Securities Regulatory Commission to establish a joint venture securities company known as DBS Securities , in which DBS will have a controlling stake of 51 per cent.

Businesses that DBS Securities will engage in include brokerage, securities investment consulting, securities underwriting and sponsorship, as well as proprietary trading. DBS chief executive officer Piyush Gupta said that the group has been"supporting China's financial development in the past 30 years".

Neil Ge, China head of DBS Group, said the new JV will further support the bank's long-term sustainable development in China and provide more comprehensive financial services to Chinese customers.

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