60-second interview with Sim Bock Eng

What does your firm or employer do?

WongPartnership is a full service law firm headquartered in Singapore with a strong Asian presence. We are particularly strong in cross-border transaction and contentious work. I head the specialist and private client practice group, whose ambit includes assisting high net-worth individuals and families on both contentious and non-contentious matters. These range from estates, trusts, succession planning and litigation.

What has STEP done for you, individually, or as an organisation?

Private wealth practice often involves various specialised areas and multiple jurisdictions. STEP provides a useful platform to access relevant expertise in a collaborative manner. It also provides me with opportunities to get to know other private wealth practitioners, both on a professional and personal level, to access technical know-how, and to be more alive to practical issues which affect the industry.

What is the most important thing STEP does, in your opinion?

STEP provides the public with the confidence that its members are professionals who maintain high ethical standards.

What made you decide to volunteer at STEP?

I was very attracted by the camaraderie amongst STEP members when I attended STEP events. Not only were the STEP members passionate about their areas of expertise, they were generous in their sharing. For instance, the Singapore branch actively liaises with other associations with similar objectives and regulators as to possible legislative and regulatory changes which can be implemented, to make the jurisdiction more attractive to high net-worth individuals and families. I recall one occasion when the regulators solicited feedback under very tight timelines, and there was no shortage of members who voluntarily stepped up to the task. It has been a most fulfilling and enjoyable four years volunteering with STEP.

Your branch has run some online events recently. How did they go, and do you have any recommendations to share?

It took the COVID19 pandemic to nudge us into making the technological leap. The webinars have been a great success, allowing members to both catch up on their continuing education and to stay in touch with each other. It’s ironic that as the world went into lockdown, it also became more borderless with online events. Technology allows us to reach out to fellow members in other jurisdictions to exchange ideas and explore how we may work together. This will be one of our objectives for the Singapore branch to adopt going forward.

What do you most like about your job, and what do you feel is most worthwhile?

‘Advising families across the generations’ means a lot to me. In my practice, I have had occasion to advise not just the first generation, but the second and third generations of the same family. It’s been very satisfying to know that giving proper advice in the early years, as well as continual assessment and adjustments as legal, regulatory and tax regimes change, has spared the families much grief, stress and cost, as well as preventing disputes. I do take a certain pride in seeing families in a good place for wealth and succession planning.

What would you say to a young person thinking of a career in this industry?

This area of law is multi-faceted and offers challenges in the structuring of diverse portfolios and assets. It is ideal for a young lawyer with a keen interest in the establishment, management and maintenance of private wealth assets. There is a strong personal element - family dynamics typically plays a major role, and inevitably, there's a need to balance interests. What is invaluable is a genuine interest in getting to know and help your client, and the generations that come after.

Which social media channels do you use and why?

I am on LinkedIn, but I really respond better to emails and WhatsApp messages.

Sim Bock Eng TEP is a partner with the firm of WongPartnership and heads its specialist and private client practice. She has over 20 years of experience in trust, estate and family laws – in both front-end and contentious work. She was secretary to STEP Singapore in 2018 and has served as Chair since 2019. She teaches cross-border succession for the STEP Professional Postgraduate Diploma in Private Wealth Advising.