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DBS sees growth in family offices in Singapore

MAS is working closely with the EDB to build a strong network of family offices in Singapore.

There is a rising number of family offices in the region, driven by factors including the need for succession planning. An estimated US$2.7 trillion of wealth is expected to be passed to the next generation over the next 15 years.

DBS' Mr Lee says: "We see ourselves getting stronger with more complete offerings for the high net worth, improving clients' understanding of more complex wealth structures and upskilling the relationship managers for the entire private bank and Treasures private client segments."

DBS Private Bank (PB) is making a concerted effort to assist ultra high net worth clients in terms of wealth planning and structuring, helping them in particular to establish a family office should they need one.

Lee Woon Shiu, DBS PB regional head of wealth planning, family office and...

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