DBS eliminates a dozen jobs at brokerage as trading slumps

SINGAPORE (Dec 2): DBS Group Holdings cut at least 12 roles across Asia at its brokerage unit, the latest bank to shrink its trading desk as volumes slump.

DBS Vickers Securities is rationalising its institutional business unit as it seeks to be “more competitive and responsive to market changes,” the brokerage arm of Southeast Asia’s largest lender said in an e-mailed response to questions. Affected employees will be offered opportunities to be redeployed within the bank, according to the brokerage.

“We continuously look at ways to enhance effectiveness, efficiency and productivity, including reviewing our systems and processes, as well as staffing levels,” DBS Vickers said.

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