DBS, OCBC, UOB to gain from higher AUM, fees amid booming family office scene 

SINGAPORE’S strong family office sector will likely continue to boost the wealth management businesses of the local banking trio, analysts said.

More family offices have tended to be beneficial for the onshore deposit business and liquidity of the banks, said Jayden Vantarakis, head of Asean research at Macquarie Capital.

Tareck Horchani, head of prime dealing at Maybank Securities, also expects the inflow of family office wealth to boost assets under management (AUM) for local lenders.