DBS Private Bank hires veteran wealth advisor as new executive

Terry Alan Farris has been the bank’s Senior Vice President and Head of Family Office since January 2011.

A family office is a private company that is set up to manage investments and trusts for a single wealthy family. Services provided by a family office include family governance, financial and investment education, philanthropy coordination, and succession planning.

In a statement, DBS Private Bank said the appointment will enable it to maximize opportunities offered by high net worth individuals and families interested to allocate more of their assets to philanthropic activities.

Farris has over 20 years of experience advising and managing high net worth individuals and families, private wealth, family governance and philanthropy throughout the region.

Previously, Farris served as wealth advisor to the key client segment of UBS and MeesPierson Private Bank. He also launched UBS’ Philanthropy Services for Asia-Pacific.

As a SVP of DBS Private Bank, Farris will be responsible for growing the family office and philanthropy advisory business, as well as creating an Asian-centric structure for the investments and wealth of multi-generation families.

Farris will report to Tan Su Shan, Head of Wealth Management at DBS Bank.

Farris said affluent families running corporations and those interested in philanthropy will benefit from the long term family governance plan and family wealth oversight services offered by DBS Private Bank.

“[As] philanthropy [is] trending towards… philanthropists [incorporating] giving strategies in their wealth accumulation plans… they would need professional advisory services to help them with those investments,” Farris said.

Apart from private banking services, DBS’ clients can also gain access to numerous investment opportunities in equity and debt capital markets, mergers and acquisitions, structured finance and private equity.