DBS Bank has hired Lee Woon Shiu from Bank of Singapore to serve as the new head of wealth planning, family office and insurance solutions at its private bank.
Shiu replaces Rob Ioannou, who will continue to work at the bank.
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At Bank of Singapore, Shiu latterly served as the head of wealth planning, trust and insurance. He joined the bank in 2004.
In his financial career of over two decades, Shiu worked with Asian UHNW families.
He advised these families on a range of issues including estate structuring and philanthropy strategies.
In the new role, he will report to group head of consumer banking and wealth management Sim Lim who was appointed in the role last year.
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By GlobalDataCommenting on the new appointment, Lim said: “With Asia at the cusp of a significant intergenerational wealth transfer, we are committed to being our clients’ partner of choice as we help to grow, manage and protect their family’s assets and legacy over time.
“With his wealth of experience and in-depth understanding of Asian families’ needs and priorities, Woon Shiu will be a great addition to our team as we look to strengthen our suite of services and capabilities, and cement our position as a leading wealth manager in the region.”
Last November, DBS announced plans to double the number of Dubai-based private bankers in the next five years as part of an expansion in the Middle East.
Earlier in 2018, the bank appointed Tan Teck Long as its new chief risk officer.
