DBS out of ABN Amro race after ANZ deal?

With its agreement to buy ANZ’s Asian retail and wealth management business, Singapore’s DBS looks to have consolidated its position among the regional heavyweights of wealth management. But it may simultaneously have ruled itself out of the bidding for ABN Amro’s Asian private banking arm, which has reportedly hired Lazard to advise on its sale. It’s tricky enough to acquire and assimilate one new business; taking on two at once would be “too much work and too much risk”, said …