DBS eliminates a dozen jobs at brokerage as trading slumps

DBS Group Holdings Ltd 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 South-east 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.

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