Singapore’s thriving family office sector is set to bolster the wealth management businesses of DBS, OCBC, and UOB, analysts said. The influx of family offices has supported onshore deposits and liquidity, according to Macquarie Capital’s Asean research head, Jayden Vantarakis. Tareck Horchani, head of prime dealing at Maybank Securities, noted the trend is boosting local banks’ assets under management. Enhanced due diligence requirements are attracting sophisticated families, driving demand for premium services and higher wealth management fees, Horchani said. He added that banks with expertise in structuring philanthropic contributions stand to gain as family offices allocate more to charitable causes. Singapore’s appeal as a family office hub is expected to continue driving growth across the local banking sector.