A generational shift is transforming private banking, as millennials and Gen Z inherit or create wealth at unprecedented rates.



Younger clients prioritize digital engagement, sustainability, and entrepreneurial investments. Unlike older generations, they prefer venture capital, ESG funds, and cryptocurrency exposure.

Private banks in Singapore are adapting by hiring younger RMs, offering fintech-integrated solutions, and hosting innovation forums. Some banks also establish mentorship programs pairing next-gen clients with business leaders.

This evolution requires banks to balance tradition with modernity—retaining discretion while embracing transparency and innovation.

millennial HNWIs, Gen Z wealth, next-gen private banking

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Sophia Tan

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Marks Toms – Editor-in-Chief
Marks oversees editorial policy, compliance, and fact-checking at bankaccountsopen. Read more articles

Disclaimer:The BankOpen Singapore Editorial Team consists of financial analysts, banking industry professionals, and experienced writers. We are dedicated to providing accurate, up-to-date, and practical insights to help readers navigate Singapore’s banking landscape and make informed financial decisions. The information provided in this article is for general informational purposes only and does not constitute financial, investment, or legal advice. Always consult with a qualified professional before making any banking or investment decisions.