DBS Private Bank’s Multi-Family Office Platform Hits USD780 Million AUM, Targets USD1.56 Billion by 2026

DBS Private Bank, part of Singapore’s largest banking group, announced its multi-family office platform, DBS Multi Family Office Foundry VCC (DBS MFO), has surpassed SGD1 billion (USD780 million) in assets under management (AUM) just two years after its 2023 launch.

The platform aims to double AUM to SGD2 billion (USD1.56 billion) by the end of 2026.

The DBS MFO enables ultra-high-net-worth families to establish Singapore-based investment vehicles without the complexity of building single-family offices, with DBS managing administration while clients select investments. The platform, requiring a minimum investment of SGD15 million per sub-fund, has onboarded over 25 families, attracting clients from Europe, India, Greater China, and across Asia.

DBS Private Bank’s Group Head of Wealth Planning, Lee Woon Shiu, attributed accelerated client interest to heightened global economic uncertainty and market volatility, driving demand for Singapore’s stable, transparent, and flexible jurisdiction. The platform leverages Singapore’s variable capital company (VCC) structure, enabling onboarding within one month—significantly faster than traditional single-family office setups.

DBS also revealed it provides banking services to over one-third of Singapore’s single-family offices, with family office AUM more than doubling over the past two years, though specific figures were not disclosed.