Singapore's DBS to merge capital markets and brokerage with treasury markets

SINGAPORE (Reuters): Singapore's largest lender DBS Group said on Friday it will merge its equity capital markets, brokerage and digital exchange with its existing treasury markets business, with the new group renamed global financial markets effective March 1.

DBS, which is also the biggest bank in Southeast Asia by assets, said the consolidation was made following the announcement that its group head of capital markets, Eng-Kwok Seat Moey, will retire in March after 36 years with the lender.