Best private bank: DBS Private Bank
For the world’s wealthiest families, Singapore has become the jurisdiction of choice – stable, well regulated, and positioned at the centre of Asia’s fastest-growing wealth corridors. Within that landscape, DBS Private Bank is the defining institution.
DBS’s credentials in its home market are exceptional. The bank pairs Singapore’s AAA-rated sovereign environment with its own AA-/Aa1 credit rating from S&P and Moody’s, a CET1 ratio of 17.4% as of the first quarter of 2025, and a non-performing loan ratio of 1.0%. In a post-Credit Suisse world, where counterparty risk has become a primary filter for global families selecting a booking centre, this profile carries considerable weight.
The bank’s trust and family-office capabilities reflect Singapore’s evolution as a structuring hub. DBS launched the world’s first bank-backed multi-family office using Singapore’s variable capital company structure, with assets under management (AUM) surpassing S$1 billion ($783 million) and on track to double by end 2026. Its trustee business administers hundreds of private trusts and has grown fee revenue steadily since 2020, as many other platforms of its kind retreated in the region.
Digital asset leadership further sets DBS apart. Through the DBS Digital Exchange, clients can access cryptocurrencies, options and structured notes within a fully regulated, institutionally governed framework. In the first half of 2025, clients executed more than $1 billion in cryptocurrency options and structured notes, with volumes up approximately 60% quarter-on-quarter. The integration of digital assets into legacy planning through DBS Trustee is among the first of its kind in Singapore.
Across investment performance, relationship model and platform resilience, DBS has made the strongest possible case that Singapore is the world’s premier private banking destination – and that it is that destination’s strongest institution.
Best international private bank: HSBC Private Bank
HSBC Private Bank has won this year’s award as Singapore’s best international private bank, supported by its solid financial performance, international presence and above-average alternatives platform.
The bank’s leadership in Singapore is reflected through clear, measurable outcomes. It reports a double digit share of the market’s private banking net new money in 2024, accompanied by a solid year on year rise in client assets through mid 2025 and record high client advocacy scores. These indicators underscore the trust placed in the franchise by sophisticated domestic and regional clients.
A further area of strength lies in the bank’s ability to execute seamlessly across the organisation. Its “One Bank” model enables clients to draw on cross business expertise efficiently – whether arranging a bespoke multi-million structured financing secured on India promoter shares from Singapore or coordinating the largest commitment within a hundreds of millions equity private placement under tight timelines, reflecting a disciplined cooperation across teams and geographies.
Additionally, the breadth of its wealth platform continues to set it apart. The firm offers one of Asia’s most extensive alternatives ranges, complemented by its digital discretionary portfolio solution and a fully insurance licensed relationship manager force, which is unique in the Singapore market.
Recent large scale insurance placements and notable wealth-planning mandates, including a multi million trust transition into DPM, highlight the depth of the bank’s advisory capabilities.
Best pure play/boutique private bank: UBP
UBP’s recognition as the best boutique private bank in Singapore in 2025 is underpinned by three core strengths: the thoughtful expansion of its investment capabilities, the disciplined execution of its regional strategy, and its client-centred approach.
UBP has continued to broaden its Singapore based product offering in ways that directly address client needs. The forthcoming launch of its variable capital company (VCC) structure in November 2025 positions UBP among the earliest Swiss private banks to introduce this framework locally, reinforcing its ability to provide flexible, institutionally managed solutions for ultra-high-net-worth (UHNW) clients and family offices.
The bank has implemented its Singapore strategy with consistency. The creation of a dedicated external asset manager dealing team, along with targeted appointments in external asset manager business development and corporate and family-office coverage, has strengthened client delivery.
These initiatives, combined with the rollout of innovative structures such as the VCC, reflect a disciplined approach aligned with Singapore’s growing importance as a hub for UHNW individuals and family offices.
UBP’s position has been further strengthened by its focus on building a more resilient and responsive platform for clients. Enhancements in technology, operational processes, and cross team collaboration – particularly between investment, advisory and dealing units – have supported client engagement across the region.
Best safest private bank: DBS Private Bank
DBS’s recognition as the safest private bank in Singapore in 2025 is underpinned by several core strengths that continue to set it apart in a demanding wealth management environment.
As the city state strengthens its position as a preferred global wealth hub, clients increasingly seek institutions with robust governance, clear oversight and strong adherence to regulatory standards – all areas where DBS has established a solid reputation.
Another key contributor to this accolade is DBS’s exceptionally strong capital position. With a CET1 ratio of 17.4% as of March 2025, which is a 2.7 percentage point rise from the previous year, the bank maintains sizeable buffers that surpass many international peers. This provides stability and the capacity to support complex, crossborder needs in uncertain markets.
A further area reinforcing DBS’s standing is the quality of its risk-management policies. The bank’s non-performing loan ratio remains at just 1%, supported by high allowance coverage. Operational losses in private banking are markedly lower than industry benchmarks, reflecting steady and disciplined control frameworks.
Best for UHNW: Standard Chartered
Standard Chartered Private Bank has been recognised as this year’s best private bank in Singapore for the ultra-high-net-worth (UHNW) segment, supported by strong client engagement, enhanced product offerings and continuous digital innovation.
Deeper client engagement and sustained growth have reinforced its standing among UHNW families. The bank continued to strengthen relationships through its Global Families Network and tailored forums, achieving a notable rise in client assets and wallet share. Its ability to support clients with cross‑border connectivity across ASEAN further enhanced its relevance to entrepreneurial and multi‑jurisdictional families.
The bank has made significant investments in specialist capabilities and product breadth to meet the complex needs of UHNW clients. Enhancements such as the expanded wealth planning and philanthropy advisory teams, the OneBank collaboration model, and the launch of the co‑investment club have strengthened the bank’s ability to deliver integrated wealth, financing and investment solutions aligned with sophisticated mandates.
Finally, ongoing upgrades to its digital infrastructure, paired with strengthened advisory talent, have contributed to a more efficient and forward‑looking client experience. Initiatives including real‑time processing, automated structured‑note workflows and the secure communication platform LeapXpert were complemented by structured talent‑development programmes that elevated advisory standards, demonstrating a consistent, client‑centred approach that underpins the bank’s 2025 success in this segment.
Best for HNW: Bank of Singapore
Bank of Singapore secures this year’s award as the country’s best private bank for high net worth (HNW) individuals, reflecting a steady performance and client centred approach.
The bank has demonstrated consistent expansion of its HNW franchise. Assets under management grew by 11% year on year, signalling deeper primary banking engagement and sustained client trust. This ability to attract and retain wealth is ever more impressive in what is a very competitive market.
Bank of Singapore offers HNW clients access to investment opportunities typically associated with institutional portfolios. Through discretionary and advisory mandates of $20 million and above, clients can participate in largescale alternative investments that enhance diversification and complement traditional wealth strategies.
In addition, the bank’s effective use of technology has strengthened operational efficiency in ways that directly benefit HNW clients. Its AI agentic tool Source of Wealth Assistant has shortened the onboarding processing times from 10 days to one hour, delivering a smoother and more reliable client experience.
Combined with a focused relationship management approach, supported by a favourable client to relationship manager ratio, the bank offers a personalised and well supported service model designed to meet the needs of the HNW segment.
Best for family office services: DBS Private Bank
DBS Private Bank claims this year’s title as Singapore’s best for family offices. This win reflects the bank’s ability to scale its business in this segment, the breadth of investment solutions it offers to families, and its strong thought leadership position in 2025.
The bank has continued to deepen its presence within Singapore’s family-office community. It now works with around one third of all family offices established in the market, with assets reaching double digit billions in SGD as of September 2025. For example, the DBS Multi Family Office Foundry, which is built on Singapore’s variable capital company (VCC) framework for investment funds, has reached S$1 billion ($782 million) in assets and is on track to double by 2026, demonstrating strong demand from families.
DBS offers a comprehensive investment platform designed for sophisticated family-office needs. Families benefit from institutional grade private market access through Hamilton Lane, a robust alternatives proposition that reported strong growth in 2025, and exclusive opportunities available through the DBS Private Assets Club.
The bank also continues to shape industry practice through thought leadership and education. Its longstanding publishing programme includes the seventh edition of its family office report, produced in partnership with the Financial Times in 2025, reinforcing its role in defining emerging themes.
Likewise, DBS’s 2025 Wealth Planning Symposium translated governance concepts into practical tools, such as family constitutions, family councils and governance frameworks, to help families strengthen decision making processes.
Best for succession planning: DBS Private Bank
DBS Private Bank has been recognised as Singapore’s best institution for succession planning in 2025, supported by its breadth of services, strong financial performance and innovative digital solutions.
The bank offers a comprehensive suite of wealth transition capabilities, ranging from tax planning to trusts and family governance. Its Family Office Foundry and family office and philanthropy advisory teams provide end to end structuring from Singapore, including single and multi-family office setup, cross border trust design and governance frameworks. This is further strengthened by its trust company, which administers several hundred private trusts and has delivered strong five year growth in high value structures and overall trust assets under management.
Financially, DBS demonstrates clear momentum. Its bank backed multi-family office, leveraging Singapore’s variable capital company framework, has reached S$1 billion ($781 million) in assets within two years and is on track to double AUM to S$2 billion by end-2026, reflecting strong demand from families seeking clarity, control and administrative efficiency. Trust fee revenue, which is a key indicator of capability in succession planning, has surpassed several million SGD for the first time and has grown by double digits in 2025 since 2020.
DBS also differentiates itself through innovation. For example, using DBS Digital Exchange (DDEx) and DBS Trustee, the bank administers a multi-million dollar digital asset trust managed by a next generation beneficiary, demonstrating how digital assets can be incorporated into future ready legacy planning as tokenised wealth becomes mainstream.
Best for next-gen: JPMorgan Private Bank
JPMorgan Private Bank secures this year’s spot as Singapore’s best private bank for next-gen clients. This recognition is driven by three central areas of strength: its sustained engagement with future family leaders in the region, its structured educational programmes and advisory support, and its ability to foster meaningful networks across regions.
The bank has developed a consistent, long‑term approach to engaging younger family members through dedicated next‑generation forums and leadership programmes. These initiatives introduce participants to topics such as multi‑asset investing, leadership development and family governance, helping them prepare for future responsibilities.
Its advisory platform offers practical guidance tailored to emerging wealth holders. Through specialised advisory services and educational institutes, the organisation provides next‑gen clients with resources on estate planning, governance and strategic decision‑making. This structured approach ensures that learning is grounded in real‑world scenarios relevant to families across the region.
Finally, JPM cultivates international connectivity by bringing clients together across major global hubs. Events held in key financial centres give next‑gen participants access to peers, entrepreneurs and industry experts. These exchanges broaden perspectives and encourage collaboration, reinforcing the organisation’s commitment to supporting emerging leaders in the region.
Best for client service: EFG
EFG has been recognised as Singapore’s best private bank for client service in 2025. This distinction is grounded in improvements that underpin a consistently thoughtful and attentive client experience.
A key strength is the bank’s continued investment in its advisory teams across Southeast Asia. The addition of seasoned private banking professionals, each bringing extensive industry experience, demonstrates EFG’s commitment to broadening its expertise and ensuring that clients in Singapore receive well‑supported, professional relationship coverage. This focus on talent reflects confidence in the platform and enables new teams to integrate swiftly and serve clients effectively.
Another defining attribute is EFG’s client‑centred operating model. Its client relationship officer (CRO) framework draws together specialists in investment, planning and credit, creating a cohesive advisory structure designed to understand each client’s objectives in depth.
Clients in Singapore further benefit from the bank’s international network, which enhances local guidance with global insight and research capabilities.
Underlying this approach is a disciplined stance on operational management. The bank’s cost‑to‑income ratio reached 66.7%, improving on the last year and illustrating a steady balance between revenue growth and controlled expenses. This financial stability supports high service standards while allowing continued investment in people and client delivery.
Best for discretionary portfolio management: UOB Private Bank
This year’s award goes to UOB Private Bank, thanks to its growth strategy and superior yield outcomes.
The bank demonstrated meaningful progress in expanding discretionary adoption among clients. By end September 2025, DPM penetration reached 13.7% of invested assets, with assets under management rising to S$6.3 billion ($4.9 billion). This growth was underpinned by steady net new money inflows, strong client retention and increasing willingness among clients to entrust portfolio management to the bank, even during periods of market uncertainty.
UOB delivered consistently competitive investment outcomes. Its Balanced mandate achieved a one year return of 13.9% net of fees, with measured volatility contributing to an improved Sharpe ratio versus its benchmark. These results were driven by disciplined asset allocation, timely adjustments around market events, and effective positioning across equities, fixed income and gold related exposures.
Finally, the bank strengthened its DPM franchise through the practical use of innovation. The integration of generative AI for research, portfolio construction and client communication enhanced the speed and quality of decision-making while supporting more accessible engagement with clients. Together, these developments reflect a thoughtfully built and forward looking DPM platform.
Best for alternative investments: Bank of Singapore
Bank of Singapore is recognised as the best private bank in Singapore for alternative investments in 2025, thanks to its focus on long-term innovative solutions, a growing ecosystem and research leadership.
Its commitment to broadening client access to alternative investments has been evident through initiatives such as Family Office Catalyst, which offers ultra‑high‑net‑worth investors a practical route to professional investment capabilities without the need to establish a traditional family office. This approach reflects the bank’s focus on providing structured, relevant solutions aligned with clients’ long‑term needs.
The bank has strengthened the alternative investment ecosystem through specialised digital platforms and partnerships. The launch of the FIM Alternatives Select platform, developed with global fintech leader iCapital, allows intermediaries to access curated private equity, private credit, real asset and hedge fund opportunities alongside post‑investment monitoring tools. As the first private bank in Asia to introduce a platform of this scale, it has enhanced transparency and accessibility in a segment often limited by complexity.
Finally, its leadership in research and portfolio construction, including the work of the CIO Investment Institute and the introduction of a new strategic asset allocation framework, ensures clients benefit from informed analytical guidance.
Best for digital solutions: DBS
DBS pushed Singapore’s digital private banking landscape forward throughout the review period, with the bank’s excellence in digital solutions powered by a scaled artificial intelligence (AI) engine that delivers tangible economic performance – S$750 million in measurable AI impact in 2024 alone, with expectations to exceed S$1 billion in 2025.
Its thousands of machine‑learning models across hundreds of use cases drive hyper‑personalised engagement, from millions of AI‑powered nudges to precision investment insights across client segments.
DBS also evolved its institutional‑grade autonomy and execution capabilities. Technology such as its advanced fixed‑income pricing engine, which drove close to a doubling of revenue uplift after the launch of credit-linked notes, demonstrated a relentless focus on product excellence and automation leadership.
The bank’s digital architecture is distinguished by integration: the DBS digibank app delivers a unified view of traditional and digital assets, 24/7 trading, instantaneous fiat conversion and direct connectivity to the wider wealth platform.
Finally, DBS’s leadership in digital assets is unparalleled. The DBS Digital Exchange (DDEx) has scaled volumes eight‑fold since 2022, while uniquely integrating digital assets into succession planning through Singapore’s only bank‑backed digital‑asset trust capability.
DBS pushed the frontier of digital private banking in Singapore throughout the review period – proving it to be secure, predictive and future‑ready.
Best for digital assets: DBS Private Bank
DBS Private Bank has built Singapore’s most comprehensive institutional-grade digital asset platform, combining regulated market access, custody, structured products and integration into broader wealth planning – an offering that no other private bank in the city-state currently matches.
The centrepiece is the DBS Digital Exchange, Asia’s first bank-backed digital exchange, which links cryptocurrency trading with institutional-grade custody within a fully regulated environment. Launched in 2021, it has come into its own as digital assets have entered the mainstream. In the first half of 2025, high- and ultra-high-net-worth clients traded billions of dollars in cryptocurrencies and crypto-linked instruments through the platform, with volumes growing more than four times year-on-year and eight times against 2023 levels.
The product architecture extends well beyond spot trading. Clients can execute options strategies on cryptocurrencies, access crypto ETF-linked notes and take advantage of yield-enhancing structures tied to digital assets. The platform is already positioned for the next wave of innovation, including Ethereum staking, tokenised real-world assets and stablecoin applications.
What sets DBS apart in Singapore specifically is its integration of digital assets into trust and succession planning – a first for any bank in the jurisdiction. DBS Trustee, Singapore’s oldest bank-owned trust company, now holds digital assets including Bitcoin as trust property, using fully segregated contractual structures with clear beneficial ownership protections. Clients can view and manage both traditional and digital asset positions within a single app, enabling round-the-clock trading and seamless integration into advisory conversations.
Custody standards are uncompromising. All assets held through the exchange are stored in 100% air-gapped cold storage, supported by rigorous cryptographic key management and strict segregation of client assets from proprietary holdings.
In a market where regulatory alignment and institutional discipline matter as much as product breadth, DBS has built the most credible digital asset proposition in Singapore private banking.
Best for sustainability: Bank of Singapore
Bank of Singapore has built its sustainable investing proposition around the principle that ESG should be a standard part of the client experience rather than an optional add-on. The approach is structured, measurable and embedded across the full client lifecycle – from acquisition through to reporting.
The bank’s internal framework, Project Seed, coordinates sustainability efforts across three pillars: people, planet and prosperity. On the people side, 650 staff have been trained in ESG capabilities. Client engagement runs through four Compass Dialogue webinars, a joint event with Singapore Exchange focused on sustainable investing, and a dedicated session with the bank’s London office.
Product and tool development sits at the centre of the proposition. The bank’s proprietary “Shades of Green” overlay classifies recommended funds into three tiers – Emerald, Sage and Garden – based on each fund’s MSCI ESG rating and the extent of ESG integration in its investment process. This gives clients a consistent, standardised way to express sustainability preferences across third-party funds.
Alongside this, the bank offers nine funds and managed investment products with an ESG dimension, three ESG-related structured products, and a discretionary portfolio management mandate – the World ESG Equity mandate – that requires a minimum portfolio MSCI ESG rating of A, with at least 50% of holdings in MSCI Leaders (AA or AAA rated).
That mandate has delivered positive alpha against its benchmark in three of four full periods since inception in mid-2022.
ESG quality thresholds are maintained across recommended funds, equities and fixed income. As of the third quarter of 2025, an overwhelming majority of recommended mutual funds and equities and substantial majority of fixed-income holdings met the minimum MSCI ESG BB threshold. The bank is also a signatory to the Singapore Stewardship Principles and is developing a stewardship approach for implementation within its discretionary investment process.
Governance sits at board level, with a sustainable investment governance committee reporting into the global management committee. Twelve ESG-related thought leadership reports were published in the year to September 2025, and a client sustainability preference questionnaire is incorporated into the standard account-opening process.
Best chief investment office: Bank of Singapore
Bank of Singapore presents one of the most well-rounded chief investment office (CIO) platforms in Singapore, shaped by a thoughtful blend of global expertise, disciplined investment methodology and accessible client engagement.
Its CIO global advisory council – comprising about 10 leaders from economics, geopolitics, policy and investment – offers perspectives that are not always offered by its peers. This is reinforced by a consistent flow of publications, from Supertrends to timely event‑driven updates, which position the CIO office as a reliable source of insight rather than solely a portfolio‑focused function.
The bank’s investment framework further supports this credibility. Its SAA 2.0 strategic asset allocation (SAA) approach uses advanced optimisation and scenario stress‑testing, distilling a universe of well over a trillion potential portfolios into a refined set of robust options. Process transparency is a clear priority, with a building‑block SAA layout and practical tactical asset allocation case studies across regional equities, commodities and FX demonstrating how views are translated into portfolio decisions.
The bank also offers large‑scale events, multilingual AI‑supported delivery and a wide range of digital channels, including webinars, podcasts and localised platforms, which help to ensure that clients can engage with CIO guidance in a format that works best for them.
Best independent wealth manager: Lighthouse Canton
Lighthouse Canton secures this year’s award as Singapore’s best independent wealth manager, thanks to its strong financial track record, product shelf and digital solutions.
The business has delivered sustained commercial momentum, reflected in both revenue and client expansion. A 58% year‑on‑year rise in revenue in 2025 – among the strongest in its peer group – alongside surpassing $5 billion in group assets under management and advisory by October 2025, shows broad engagement across its client base. At the same time, an improved cost‑to‑income ratio, moving from 112% to 89%, underlines firmer operational control.
The firm has continued to build depth across alternatives and flagship strategies. Its progress in private credit, venture equity and hybrid solutions, combined with the launch of new fund vintages such as Growth Debt II, Nueva Momentum and the Antarctica Diversified Hedge Fund, has widened its offering. Client participation has also strengthened, with an 8% increase in external fund allocations between December 2024 and August 2025.
Finally, its digital ecosystem, anchored by LC Vantage, has matured considerably. Integrations with Pershing and Clearstream, enhanced customer relationship management and analytics via Salesforce and Einstein, and a proprietary trading desk have together created a more connected and responsive platform for clients.
Best independent wealth manager – digital solutions: Azimut Group
Azimut Group’s Singapore business is a standout winner here, reflecting the firm’s ability to fuse global scale with local delivery in one of Asia’s most demanding wealth markets.
As part of an independent group, Azimut’s Singapore platform leverages the full strength of a diversified global engine across public and private markets, wealth management and fintech.
The franchise is supported by the group’s global wealth solutions architecture, which delivers multi‑asset strategies, unified custody and cross‑border solutions through an integrated CIO and product platform.
Critically, Azimut’s digital offering goes beyond channel enablement to a full super-app concept, powered by artificial intelligence (AI), blockchain, cloud and advanced cybersecurity. Tools such as Metadvisor, Azimut goal‑based plan and the Azimut Finder generative-AI chatbot materially enhanced adviser productivity and client personalisation during the review period, embedding data‑driven decision‑making and goal‑based planning at scale.
Backed by the Azimut innovation lab to industrialise successful pilots and align them with global strategic priorities, the Singapore business stands as a regionally nuanced expression of a high‑performance global platform – one that is technocratic, impact‑oriented and relentlessly focused on client outcomes.
Best independent wealth manager – discretionary portfolio management: Farro Capital
Farro Capital has been recognised as Singapore’s best independent wealth manager for discretionary portfolio management (DPM) in 2025, supported by the consistent development and respective returns of its discretionary platform.
The firm has strengthened client engagement with discretionary solutions. The penetration rate of DPM as a share of total client assets rose from 6% in the first half of 2024 to 16% in the same period of 2025. This steady expansion reflects growing client confidence in delegated portfolio management and the firm’s ability to guide investors towards structured, long‑term portfolio frameworks.
Farro Capital has delivered resilient investment outcomes. Its balanced multi‑asset mandate achieved 6.64% in the first half of 2024 and reached 10.98% by end‑2024 before moderating to 7.36% in the first half of 2025. The trajectory shows a mandate capable of navigating shifting market conditions while maintaining stable performance characteristics aligned with client expectations.
The firm has also demonstrated strong fundraising momentum. Discretionary mandates, including variable capital company structures and individual accounts, expanded by 229% over the past year, supported by both new inflows and migration into discretionary arrangements, illustrating a robust discretionary proposition and a clear commitment to strengthening wealth management standards in Singapore.
