SINGAPORE: The biggest bank in South East Asia, DBS, is launching a new investment platform specifically for family offices, which is private wealth management that caters to ultra-high-net-worth individuals — people who have $1 million or more in liquid financial assets.
At present, the bank provides services to over one-third of the country’s single-family offices. Within the last two years, DBS’ family office assets under management have more than doubled, Reuters quotes the bank as saying. Amid turmoil and unrest around the globe, which has also affected banking systems, more ultra-rich families have been looking to set up family offices in Singapore, which is largely seen to be aMr Lee Woon Shiu, DBS Group Head of Wealth Planning, Family Office and Insurance Solutions, said the new platform is also “an attractive option for some families who are not looking to immediately relocate to Singapore, but would like to consolidate their assets here.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore bank DBS deepens focus on booming family office businessSINGAPORE — Singapore lender DBS Group is stepping up its focus on the business of family offices, where its assets have surged in the last two years.
Source: TODAYonline - 🏆 1. / 99 Read more »
Lion City Sailors launching Tasek Sailors to empower disadvantaged youth in Singapore - Singapore NewsA portion of funds raised from the Tasek Sailors Charity Football Fundraiser will also be dedicated to the Tasek Sailors’ girls' team, which will benefit from the Lion City Sailors’ professional youth training programme
Source: IndependentSG - 🏆 9. / 63 Read more »
First female CFO appointed at Singapore Airlines - Singapore NewsShe's a graduate of Imperial College in the UK with a Master of Engineering and has been with Singapore Airlines since 1999
Source: IndependentSG - 🏆 9. / 63 Read more »
HDB Housing Grants Available for Different Types of Flats in Singapore (2023) - Singapore NewsRead on to find out the different housing grants available, the eligibility criteria and what you need to look out for when applying for one
Source: IndependentSG - 🏆 9. / 63 Read more »
SAF regular found dead at Changi Naval BaseSINGAPORE: A Singapore Armed Forces (SAF) regular serviceman has been found dead at Changi Naval Base on Monday (Jun 12), the Ministry of Defence (MINDEF) said. His body was found at about 8.50am and the Singapore Police Force and Singapore Civil Defence Force were activated. MINDEF said that his
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Golden Mile transformed: Bus service companies flourish in new Grantral Mall@MacPherson Residence - Singapore NewsThe move has proven to be a resounding success, with an astonishing surge of nearly 20% in passenger demand compared to their tenure at Golden Mile
Source: IndependentSG - 🏆 9. / 63 Read more »