DBS-SG deal could spark trend: Scorpio

Société Générale may have sold its private banking arm in Asia, a region with huge potential for wealth growth, but Scorpio Partnership says this could be a smart move for the French group and may even signal similar deals. After all, SocGen has not truly exited Asia, notes the wealth management consultancy. The bank will operate through a memorandum of understanding with Singapore’s DBS, the acquirer of its regional business, developing a commercial partnership combining the stre…