DBS and Avaloq signed a memorandum of understanding on September 25, 2026, to expand their 18-year partnership and jointly develop next-generation wealth management capabilities across Asia. The collaboration combines DBS’ wealth and investment expertise with Avaloq’s wealth management technology platform to support the bank’s goal of growing its retail and wealth assets under management to SGD 1 trillion by 2030.
DBS and Avaloq Expand 18-Year Partnership to Target SGD 1 Trillion Wealth Assets
Three Pillars of the Expanded Collaboration
The strategic agreement focuses on three core areas: enterprise growth, co-innovation, and capability building exchange. Under the memorandum of understanding, DBS will explore the broader deployment of the Avaloq platform across its various markets and business lines, with deployments tailored to specific local needs. Both organizations will also jointly develop capabilities spanning digital platforms, products, execution, and future wealth management models.
To address skills development and knowledge exchange, the partnership uses DBS' talent pool alongside Avaloq's wealth technology expertise. Planned initiatives feature learning programs, knowledge-sharing sessions, cross-functional exchanges, and broader industry engagement designed to equip wealth management talent for an increasingly artificial intelligence-enabled industry.
Addressing Industry Talent Crunches and Rising Demand
The partnership arrives as the Asian wealth management industry faces a severe talent pool crunch coupled with rising demand for professional investment advice. According to Avaloq wealth insights research published on September 9, 2026, seven in 10 investors already have an assigned wealth adviser, while more than four in 10 investors without one indicate they would like an adviser. To meet this demand amidst staffing constraints, the wealth industry must grow front- and back-office talent pools while augmenting individual specialists through data, technology, and stronger ecosystem partnerships.
Shee Tse Koon, Group Executive and Head of Consumer Banking and Wealth Management at DBS, noted that the partnership integrates Avaloq’s platform and data capabilities with DBS’ wealth operations to address evolving customer and adviser needs. “By deepening capabilities across the wealth continuum, we can give our advisers greater capacity for the judgment that matters and help more customers put their money to work,” Shee Tse Koon stated.
Martin Greweldinger, Group Chief Executive Officer at Avaloq, emphasized the long-term scope of the renewed agreement. “Together, we plan to expand into new markets, deepen coverage across business lines, co-create the next generation of wealth technology and equip tomorrow’s wealth-management talent with the skills needed for an increasingly AI-enabled industry,” Martin Greweldinger said.
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