DBS Private Bank has appointed a veteran banker to lead its family office and advisory business.

Terry Alan Farris, who previously served as wealth advisor at UBS and MeesPierson Private Bank, joined the company in January 2011 as senior vice president and head of family office. Farris brings over 20 years of experience advising and managing high net worth individuals and families throughout the region. He is better known for launching UBS' philanthropy services for Asia-Pacific.

"Many businesses in Asia are family-run and they will benefit from a long term family governance plan and oversight of the family wealth for future generations. In addition, more family offices in Australia and Europe are also looking for investment opportunities in Asia," Farris said in a statement.

In his new role, Farris will aim to grow DBS' family office and philanthropy advisory business and create an Asian-centric structure for the investments and wealth of multi-generation families. Services provided by a family office include family governance, financial and investment education, philanthopy coordination, and succession planning. Farris reports to Su Shan Tan, the head of wealth management.

The appointment supports the expansion plans chief executive Piyush Gupta laid out in 2010 for DBS' wealth management business in Asia. According to the bank, the current trend among Asians involves the so-called "giving while living" practice, where philanthropists incorporate gift-giving with their wealth accumulation plans.

Philanthropic activities saw an increase in 2010 after decreasing sharply at the height of the 2008 global crisis, the latest World Wealth Report by Merrill Lynch and Capgemini shows. Eight out of ten affluent investors are driven by a sense of social responsibility to give to charity, it added.