DBS hires former Bank of Singapore exec for insurance role

Industry veteran of over 20 years joins from local rival

DBS hires former Bank of Singapore exec for insurance role

Insurance News

By Gabriel Olano

DBS has hired former Bank of Singapore (BoS) banker Lee Woon Shiu to head the wealth planning, family office, and insurance business of its private bank, effective March 18.

In his new role, Lee will be in charge of growing the bank’s wealth planning, family office and insurance offerings, as well as providing financial advice for high-net-worth families. He will report to Sim S. Lim, group head of consumer banking and wealth management at DBS.

“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,” said Lim. “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.”

Lee succeeds Rob Ioannou, who will remain at DBS Private Bank, with his new role to be announced later, a Business Times report said.

Prior to joining DBS, Lee headed the wealth planning, trust, and insurance business at BoS. He has over 20 years of experience in the industry, and specialises in advising high-net-worth individuals and families, in areas such as estate structuring and succession.

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