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Family offices: Singapore’s pain could be Hong Kong’s gain

A busy street in Hong Kong’s Central district.

Following a high-profile money laundering case last year, private banks have been tightening their requirements for onboarding clients looking to set up family offices in Singapore. As a result of longer waiting times, clients have begun eyeing Hong Kong as a preferred family office destination, wealth managers told Asian Private Banker. “A lot of people who perhaps were considering Singapore…

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