Bank of Singapore Seeks to Expand Its Family Office Business
- Company looks to attract clients from China, Europe, MidEast
- Singapore is offering tax incentives for family offices
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Bank of Singapore, the private bank of Oversea-Chinese Banking Corp., is looking to expand its family office business as the city-state rolls out the red carpet for wealthy investors.
“We are seeing increasing demand for families moving into the next generation to set a proper structure in place to manage family wealth,” Chief Executive Officer Bahren Shaari said in an interview Thursday. “Singapore is promoting that, to let families use it as a base to manage their investment activities globally.”