Awards for Distinction 2023 – Best Private Bank – Singapore UHNW

Best Private Bank Singapore UHNW


DBS Bank

Best Private Bank – Singapore UHNW

Joseph Poon

Group head
DBS Private Bank

We are honoured to receive the prestigious recognition, for Best Private Bank – Singapore UHNW and HNW, and Best International Private Bank in Taiwan. These achievements underscore DBS Private Bank’s steadfast commitment to delivering exceptional wealth advisory services tailored to the distinctive needs of our esteemed clients throughout the region.

The acknowledgment in these categories affirms our sound strategy and leadership position in Singapore and the region. We did not achieve this overnight and the wins bear testament to our relentless pursuit of excellence in our capabilities, particularly in the family office space. We will not rest on our laurels but continuously refine and further strengthen our capabilities to keep pace with our clients’ evolving needs in a world marked by increased uncertainties.

What was behind the judges’ decision?

  • DBS was the first private bank to launch a multi-family office proposition, harnessing Singapore’s Variable Capital Company (VCC) framework. The DBS Foundry Multi Family Office VCC, an umbrella VCC with various underlying subfunds, provides various customisable investment strategies tailored for UHNWIs. The solution has attracted keen interest from regional UHNW families
  • Last year, the private bank’s Future Leaders Programme engaged the next generation of UHNW families by offering a platform for next-gen leaders to explore emerging trends and connect with peers. Additionally, the bank announced the first close of the Asia Impact First Fund, with DBS committing 50% of the initial funds raised alongside other investors. The DBS Foundation has also gained popularity among clients for philanthropy, resulting in an increase in adoption
  • DBS Private Bank has expanded its team of relationship managers and invested heavily in training to enhance expertise in various areas. In addition, more relationship managers are engaging in AI-augmented conversations with clients, resulting in more clients taking up wealth planning solutions. The private bank has also enhanced its product shelf with more ESG solutions and alternative investments

What we said

“DBS Private Bank’s UHNW business segment in Singapore has also seen assets and revenue grow significantly due to its continuous efforts to innovate and differentiate its offerings in the city-state,” said Audrey Raj, senior consultant and South Asia editor of Asian Private Banker.

“The majority of its ultra-wealthy clientele consists of business owners who have adopted its advisory services and solutions to enhance their personal and corporate assets, remaining faithful to its one-bank proposition. From investments to wealth planning to philanthropy, DBS Private Bank has been exploring ways to innovate its offerings.

“These factors were key considerations in awarding DBS Private Bank with the Best Private Bank – Singapore UHNW award. The judging panel at APB was pleased by the bank’s regional advancements and extends congratulations to all for this recognition.”

Contact Us
All awards related enquiries to
[email protected]
+852 8191 7196