In a city that practically invented the modern millionaire, the conversation around capital is shifting. For Sebastian Paredes, the DBS Head of North Asia & Chief Executive Officer of DBS Bank (Hong Kong) Limited, the corner office view involves navigating vast capital daily. But after more than a decade at the helm of one of Hong Kong’s premier financial institutions, his definition of a rich life looks decidedly different from a standard balance sheet.
“The connotation of wealth is much more profound than a simple accumulation of material things,” Paredes reflects. True wealth, he argues, is measured by a “sense of purpose in life,” the ability to build a lasting legacy, and the positive impact one leaves on the people and organizations that cross their path. It is this enduring influence on others through the journey of life that truly “complements the material wealth that one can accumulate”.
The Global Citizen
Paredes is a man who naturally embodies the concept of intangible wealth. A banker of over 40 years, a citizen of Ecuador and Spain, Sebastian speaks five languages fluently and has lived and worked in nine different countries. This polyglot capability isn’t just a cosmopolitan flex; it’s a deep-seated cultural asset that shapes his worldview.
“The fact that one can be associated with different cultures and different countries, gives you a much more depth of sensibility to understand the local nuances, the local cultures, the local languages,” Paredes explains. This cross-cultural adaptability allows him to deftly balance sweeping global standards with vital regional realities in the boardroom. It is a perspective distinctly matched to the DNA of DBS, which serves an expansive clientele spanning over 110 nationalities. By mirroring Paredes’ own global fluency, the bank engineers wealth solutions that are globally applicable yet anchored in on-the-ground expertise, seamlessly bridging Asia’s key capital corridors.
It is a philosophy of self-enrichment he passionately passes down: “You have to invest in yourself… in the wealth creation of captivating your experiences.” Whether through travel, learning, or mastering a new language, this pursuit of the unknown is “a wealth for yourself and an inspiration also to others.”
Weathering the Storms
Operating as a CEO in Hong Kong for 16 years has meant steering through dramatic economic and geopolitical shifts. Yet, in a sector notorious for burnout, Paredes remains fiercely energized. His secret? Pivoting away from ego toward a “very strong sense of collective accomplishments.”
“You cannot but be excited about the way you and your team operate, adapt, and evolve to stay successful amid such extraordinary change ,” he says, noting this eagerness to evolve is what “keeps you alive and energetic” year after year.
When financial markets inevitably get choppy, Paredes draws perspective from sailing. The ocean, like the global economy, commands respect. “When the seas are calm… you just sail fast and look at the environment with calmness,” he observes. But when swells grow, the strategy fundamentally shifts: “You seek for protection. And you don’t risk navigating under those turbulent waters.”
It is the ultimate metaphor for risk management: “When there are a lot of challenges around you, you stay calm, you stay covered, and you try to minimize the risks.” At DBS, this captain’s philosophy translates into a highly agile institutional strategy. By pairing this protective instinct with rigorous AI-driven analytics, the bank anticipates volatility before it strikes—securing client portfolios while proactively seizing emerging opportunities the moment the skies clear.
“When there are a lot of challenges around you, you stay calm, you stay covered, and you try to minimize the risks”
New Era of Legacy
Today’s ultra-high-net-worth individuals are seeking more than just portfolio growth; they are searching for a continuation of meaning. Yet, the foundation of this pursuit remains absolute trust. “Wealth creation, preservation, and security are very critical,” Paredes emphasizes. “When our customers think of DBS, they see a bank that they can trust, a bank that can provide security in keeping and growing their wealth.” This reputation, anchored by DBS’ distinction as the World’s Safest Private Bank by Euromoney, provides clients with a rock-solid baseline.
Once that security is established, however, the modern banking relationship requires a deeper touch. For clients at the summit of material success, the DBS team helps them discover “alternatives of additional personal growth and satisfaction.” This means actively advising on legacy management and corporate social responsibility (CSR), guiding clients as they transition financial power into a genuine “sense of purpose in life” by giving back.
This philosophy extends to how the bank interacts with Hong Kong’s cultural fabric. Moving beyond traditional finance, Paredes champions the intersection of wealth and culture. Through initiatives like DBS ARTable—launched during the city’s March art month—the bank curates unique experiences blending fine art with high gastronomy. It is a strategic effort to “give back to Hong Kong” and elevate the city as a dynamic hub, proving that a rich life is fundamentally about “purpose and enjoyment.”
The Ultimate Luxury
Despite commanding a massive cross-locations team and navigating global capital shifts, Paredes fiercely guards the greatest luxury: his personal time. “I force myself to make time during the day and during the week… to make sure that I also have a personal life,” he admits.
Strip away the titles and the bespoke suits, and you find a man who is unapologetically at peace with himself. “I am very comfortable in my own shoes. I’m very comfortable when I’m alone,” he shares. For Paredes, a truly wealthy life is defined by the ability to “enjoy immensely my me-time as well as… my quality time with my kids.”
And there is nowhere he would rather drop anchor than Hong Kong. For Paredes, the city’s greatest hidden wealth lies in its unparalleled, multidimensional lifestyle. It offers high-octane business dynamics, unrivaled physical security, and brilliant international connections, all set against a breathtaking canvas where “urban cement beauty” meets the sea, mountains, trailing paths, and beautiful beaches.
“There are very few cities in the world,” he concludes, “that can have so many elements where you can fulfill your life, both personally and professionally.
Photography : Ivan Wong
Hair And Makeup Artist : Lisa Hung
Special Thanks Four Seasons Hotel Hong Kong (Presidential Suite)
