Singapore-based DBS Group last month launched its private banking services in Macau to tap into the boom brought on by the growth in the gaming industry.
The bank has been operating in Macau since 1973 but was limited to consumer and corporate banking services.
Private banking services offered include deposits, investment advisory, trust and corporate services, securities broking, fiduciary services, estate and succession planning and liquidity planning.
It has about 50 staff in Macau, with 10 involved in private banking services.
To further fuel growth the bank will expand the number of private banking staff to 20 within two years, according to Joddy Kong, senior vice-president for private banking, DBS Hong Kong.
She said that attracting and retaining banking staff for its fledgling private banking unit would be challenging.
Ms Kong said the bank believed its reputation as an Asian bank would help attract prospective employees.
