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Straight to the source: Asia’s family offices and the slow drive towards disintermediation

When news broke mid-2015 that Joseph Tsai, Alibaba’s executive vice chairman, planned to launch an endowment-styled family office, Asia’s private banking industry was quietly impressed. Tsai’s ambition portended a new generation of ‘smart wealth’, driven to create structured, well-governed entities to manage excess cash. But times may be changing, with a growing number of Asian family offices opting to disintermediate…

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