SINGAPORE Trends and Developments
Trends and Developments Contributed by: Lee Woon Shiu and Catherine Cheung DBS Bank Limited
DBS Bank Limited is the third-largest private bank in Asia and is the bank of choice for wealth clients all over the world with its bespoke, comprehensive solutions. With presence in 19 markets globally, it is recognised for providing the world’s best in wealth management and connecting its clients to oppor - tunities in Asia through its dual booking centres in Singapore and Hong Kong. As Singapore’s leading family office practice, it offers a comprehensive suite of bespoke wealth management solutions, which in - cludes investment advisory, portfolio management,
trust, liquidity and estate planning, and family office solutions. In 2023, it launched the DBS Multi-Family Office Foundry Variable Capital Company, the first bank-backed multi-family office leveraging Singa - pore’s VCC structure, as an attractive alternative for affluent families to manage their wealth without hav - ing to establish their own Single-Family Office. It also leverages the strengths of the broader DBS Group to service the full spectrum of its clients’ wealth man - agement and business needs.
Authors
Lee Woon Shiu is DBS Group Head of Wealth Planning, Family Office & Insurance Solutions and has more than 25 years of experience in advisory, client development and professional training in family office,
Catherine Cheung is DBS Head of Wealth Planning Solutions Hub and provides advice, training and transactional support on a wide spectrum of legal, regulatory and tax issues for bespoke structuring,
trusts, high net worth life insurance and estate planning in Asia Pacific. Woon Shiu attended Yale University and the National University of Singapore where he was a Law Society of Singapore Book Prize Winner. A dual-qualified lawyer of UK and Singapore, with a STEP certification, Woon Shiu is also adjunct associate professor at the Nanyang Technological University where he regularly lectures on wealth structuring and estate succession. He is also a board member of the DBS Foundation.
product guides and trustee manuals. Prior to crossing into wealth management, Catherine was a practising lawyer for six years in Singapore and Hong Kong. She has over 20 years of experience with key roles in trust, wealth planning advisory, legal, compliance and fiduciary functions. A triple- qualified lawyer of Singapore, Hong Kong and UK, Catherine is also a Barrister (Middle Temple Inns of Courts, England & Wales), a qualified Trust & Estate Practitioner (TEP) and holds a Master’s degree (LLM) in Commercial & Corporate Law from King’s College London.
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