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.
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Genevieve Cua
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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 insurance solutions, says: "We've made a deliberate effort to focus on the slightly higher and ultra high net worth segments of clients. We've beefed up our propositions for complex trust structures, including pre-IPO and listco trusts.
"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 (RMs) for the entire private bank and TPC (Treasures private client) segments.''
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