SINGAPORE Trends and Developments
Trends and Developments Contributed by: Lee Woon Shiu and Catherine Cheung DBS Private Bank
DBS Private Bank is the third-largest private bank in Asia and the bank of choice for wealth clients all over the world, offering bespoke, comprehensive solutions. With presence in 19 markets globally, the bank is recognised for providing the world’s best in wealth management and for connecting clients to op - portunities in Asia through its dual booking centres in Singapore and Hong Kong. As Singapore’s lead - ing family office practice, it offers a comprehensive suite of bespoke wealth management solutions, in - cluding investment advisory, portfolio management,
trust, liquidity and estate planning, and family office solutions. In 2023, it launched the DBS Multi Fam - ily 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 clients’ wealth manage - ment and business needs.
Authors
Lee Woon Shiu is DBS group head of wealth planning, family office and insurance solutions, and has more than 25 years’ experience in advisory, client development and professional training in family office, trusts, high
Catherine Cheung is DBS head of the wealth planning solutions hub, and provides advice, training and transactional support on a wide spectrum of legal, regulatory and tax issues. Catherine was a practising
net worth life insurance and estate planning in Asia-Pacific. He attended Yale University and the National University of Singapore, where he was a Law Society of Singapore Book Prize Winner. Dual-qualified in the 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.
lawyer in Singapore and Hong Kong for six years, and has over 20 years’ experience with key roles in trust, wealth planning advisory, legal, compliance and fiduciary functions. She is qualified in Singapore, Hong Kong and the UK, and is also a Barrister and a qualified Trust & Estate Practitioner, and holds a Master’s degree (LLM) in Commercial & Corporate Law from King’s College London.
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