DBS TO SET UP HEADQUARTERS, WITH STATE-OF-THE-ART FLAGSHIP
BRANCH, AT MARINA BAY FINANCIAL CENTRE IN 2012
As largest anchor tenant, DBS’ move will cement Marina Bay area as Singapore’s new financial centre
SINGAPORE, 28 September 2011 – DBS Bank announced today that it will move its new headquarters and flagship branch to Marina Bay Financial Centre (MBFC) Tower 3 in the second half of 2012. As Singapore’s biggest bank and a leading bank in Asia, DBS will anchor the MBFC, cementing the Marina Bay area as Singapore's new financial centre.
Said DBS Chairman Peter Seah on the topping out ceremony of MBFC Tower 3: “With our Development Bank of Singapore lineage, DBS has, over the years, played a key role in shaping and financing the development of Singapore. In 1974, when DBS built our present 50-storey headquarters at Shenton Way, it was Singapore’s tallest and broke the glass ceiling for the construction of office blocks. Today marks yet another historic moment for DBS. As the largest bank in Singapore and a leading bank in Asia, DBS has been synonymous with the region's growth. Our new headquarters and flagship branch at MBFC Tower 3 will further cement the Marina Bay area as Singapore's new financial centre.”
DBS will be the anchor tenant at MBFC Tower 3, occupying over 600,000 square feet, or 18 floors, of the 46-storey building. The new premises will also house DBS’ flagship branch, which will not only offer regular transaction banking services, but also cater to the needs of affluent and high net worth individuals as well as small and medium-sized enterprises.
With the move, over 4,800 DBS employees, mainly from the bank’s customer-facing units, including consumer banking, institutional banking, treasury and markets and wealth management, currently housed in four locations across Singapore, will be integrated under one roof for greater productivity, efficiency and customer effectiveness. The new premises, which will also provide DBS staff with a more conducive and modern work environment, is part of DBS’ multi-year, multi-market strategic occupancy programme, which was first unveiled in 2007.
This follows a similar move last year to provide staff from DBS’ key operations functions with a better working environment, and to promote greater customer efficiencies. Over 3,000 staff from DBS’ technology and operations units moved to DBS Asia Hub, a 340,000 square feet purpose-built facility, at the Changi Business Park.
Said DBS CEO Piyush Gupta: “Notwithstanding the global economic downturn, DBS remains committed to growing our franchise in Asia, and in investing for the future. This includes nurturing and developing talent, and giving our people a whole host of opportunities to develop their careers with us in a modern and comfortable work environment. DBS’ strategic occupancy programme also consolidates relevant teams under one roof to facilitate greater efficiency and productivity; this, in turn, enables the bank to be even more responsive to customers’ needs.”
Said Wilson Kwong, CEO of Raffles Quay Asset Management: "We are very pleased that DBS has chosen to make MBFC Tower 3 its new headquarters. With Singapore's largest bank anchoring the MBFC as our biggest tenant, this further underlines the Marina Bay area as a world-class business location. As Asia’s best business address, with our location in the heart of the New Downtown of Marina Bay and the stellar lineup of tenants, MBFC fortifies Singapore’s position as a global financial hub."
Over the years, DBS has also been executing against its strategic occupancy programme across key markets, including China, Hong Kong and Taiwan.
In May 2011, DBS Taiwan relocated its headquarters to Shin Kong Xinyi Financial Center in Taipei’s financial district. This follows a similar relocation by the bank of its technology operations and support staff to Taipei Hub in the Neihu Science Park in September 2010.
DBS China inaugurated its new DBS Bank Tower headquarters in Lujiazui in February 2010. The 107,000 square feet facility is located next to the Pearl TV Tower, in the centre of Shanghai’s new financial district.
In 2009, DBS Hong Kong relocated most of its operations to One Island East in Quarry Bay and the Millennium City 6 at Kwun Tong. Covering a total area of 230,000 square feet, both developments house over 1,600 staff.
DBS - Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 200 branches across 15 markets. Headquartered and listed in Singapore, DBS is a market leader in Singapore with over four million customers and also has a growing presence in the three key Asian axes of growth, namely, Greater China, Southeast Asia and South Asia. The bank's strong capital position, as well as "AA-" and "Aa1" credit ratings that are among the highest in the Asia-Pacific region, earned it Global Finance's "Safest Bank in Asia" accolade for three consecutive years, in 2009, 2010 and 2011.
DBS provides the full range of services in consumer, SME and corporate banking activities across Asia and the Middle East. As a bank born and bred in Asia, DBS also understands the intricacies of doing business in the region’s most dynamic markets. This market insight and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. The bank believes that building lasting relationships with its customers is an integral part of banking the Asian way.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 17,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com.