POPA ReconDBS Hong Kong CEO Downplays Impact of Cross-Border Crackdown
DBS Hong Kong CEO Downplays Impact of Cross-Border Crackdown (Bloomberg) -- DBS Group Holdings Ltd.’s business has not been impacted so far from China’s clampdown on cross-border capital flows, according to the bank’s outgoing North Asia head and Hong Kong chief executive officer. “We have not seen an impact so far since the announcements took place,” Sebastian Paredes said at a media briefing in Hong Kong on Friday. “We have been extremely careful about the way we operate with the mainland customers.” Like many banks in Hong Kong, DBS has been targeting rich customers, making wealth manageme…
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