The growth of multi-jurisdiction family offices is complicating wealth planning matters for Asia’s ultra high net worth families, exposing them to heightened risk, ranging from matrimonial laws to migration to tax, and could ultimately threaten the stability of the family unit if not tackled head-on. “As families become more global, the jurisdictions that they have connections with become more diversified. […]

The post Global ambitions demand better governance, says DBS PB appeared first on Asian Private Banker.

Boutique financial services firm Klay Group has appointed a wealth planning expert from EFG.  Based in Singapore, Rohit Ganguli has been appointed as group head of wealth planning, according to a statement released today.  Ganguli will work closely with ultra high net worth individuals and families to deliver tailor-made wealth planning solutions across succession planning, family governance, tax, insurance, pensions […]

The post Ex-EFG Asia head of wealth planning joins Klay Group  appeared first on Asian Private Banker.

AXA Group has launched a unified platform targeting Asia’s wealth families, offering specialised lifestyle coverage which includes kidnap and ransom protection. The unified platform, called AXA Global Private (AGP), will serve as a centralised gateway offering multi-jurisdictional wealth planning and lifestyle protection for affluent clients with complex financial needs, the Paris-headquartered insurer announced on Monday.  “For the first time in […]

The post AXA rolls out kidnap, ransom protection in new offering for Asia’s wealthy appeared first on Asian Private Banker.

RBC Wealth Management is tapping rising demand for complex cross-border wealth planning, supported by its bank-owned trust infrastructure, as it expands in Asia’s wealth market. The Canadian wealth manager was among the most active hirers in Asia in 2025, with higher RM headcount and redesigned team structures that place greater accountability on team leaders. “If we drill down to wealth, […]

The post RBC WM grows RM ranks in Asia — scale or shift to advice-led banking? appeared first on Asian Private Banker.

A massive intergenerational wealth transfer in China is fundamentally altering the wealth-planning landscape, as globally educated, next-gen heirs increasingly bypass traditional family generalists in favour of institutional-grade, specialised advisors, according to Union Bancaire Privée (UBP). Previously, Chinese clients were guarded, often gathering fragmented information from different sources for wealth planning in the past, observed Nelson Hon, senior wealth planner for North […]

The post China’s next-gen heirs driving shift to specialised advisors, says UBP appeared first on Asian Private Banker.

As women assume central roles in family wealth succession in China, HSBC Private Bank is sharpening its focus on this strategic client base, which has traditionally been underserved by the wealth industry. “These women are not passive beneficiaries; they are active decision-makers who demand clarity, structure, and real-world execution,” said Edith Wong, head of the southern region for the private […]

The post HSBC PB bets on women as key drivers of family wealth in China appeared first on Asian Private Banker.

Three decades ago, Paul Chua, now the head of family office and wealth advisory at Bank of Singapore, avoided the word “death” when consulting with clients. At the time, the subject was considered a conversational third rail in the world of private wealth. Today, that cultural barrier has largely dissolved. A shift is underway in the industry as high net […]

The post Bank of Singapore wealth planning hits record as insurance take-up doubles appeared first on Asian Private Banker.

When Rajmohan Krishnan picked up his first paycheque in 1993, India was a different place. A liberal-minded premier, PV Narasimha Rao, was reforming a fragile economy. The country’s first private lender, IndusInd Bank, wouldn’t open for business for another 12 months. Anyone with wealth and ambition moved to Hong Kong, London or New York. He moved up the financial value […]

The post India’s wealth dilemma: Who grinds, who inherits and who squanders appeared first on Asian Private Banker.

Asian ultra high net worth (UHNW) families have appeared to reach an apex: set clear rules to govern their fortunes today, or watch them slowly disappear over time. This, according to Cameron Harvey, chief executive officer, Landmark Family Office, is one key trend the private multi-family office is seeing emerge among wealthy Asian clients as the region quietly undergoes the […]

The post Family offices must prioritise governance over gains, says Landmark CEO appeared first on Asian Private Banker.

Forget simple wills. For ASEAN ultra high net worth individuals, succession planning has morphed into a multi-jurisdictional arms race where common law trusts and civil law heirship rules run into direct conflict against a backdrop of 11 different legal systems and a combined GDP exceeding US$3.6 trillion. “Succession and transition conversations have become multi-faceted, shaped by asset situs, tax residency, […]

The post J.P Morgan, Indosuez, Julius Baer on Southeast Asia’s $3.6tn wealth puzzle appeared first on Asian Private Banker.

Wealthy individuals in Asia with US exposure risk being caught out by recent changes in US tax policy, including measures under President Donald Trump’s One Big Beautiful Bill Act (OBBBA), Jessica Cutrera of Leo Wealth, a Hong Kong-based independent wealth advisor, told Asian Private Banker. “There are a lot of individuals in Greater China and Southeast Asia, especially Indonesia and Thailand, […]

The post “Never advised properly”: Leo Wealth flags US tax risks for Asia’s HNW appeared first on Asian Private Banker.

To keep up with the needs of Asia’s ultra and high net worth individuals, family offices need to pick up the pace and have plans in place to serve generations ahead, says Hemant Tucker. This is driving Farro Capital, a Singapore-headquartered multi-family office, to proactively devise new strategies for the Asian wealth segment amid a shift towards more “institutional” frameworks, […]

The post Quick wins or lasting wealth? MFO reveals what matters to UHNWIs appeared first on Asian Private Banker.

Divorce, widowhood and business exits are transition points where control of wealth shifts, and client loyalty is tested. As more women inherit and create wealth, private banks face a simple challenge: listen better or risk losing assets. “It’s really important to listen,” said Gillian Gordon, head of alternative investments & responsible investing at JBWere, a private bank owned by Melbourne-based National […]

The post IWD 2026 — The moment women decide which advisors stay  appeared first on Asian Private Banker.

Morgan Stanley Private Wealth Management Asia (Morgan Stanley PWM Asia) is targeting the bank’s investment banking and institutional clients for wealth planning services, betting on a cross-divisional strategy to drive asset growth in 2026. “Within PWM Asia, wealth planning and solutions is always a core competence for our UHNW clients. We are striving to extend this capability firmwide in 2026, given […]

The post Tax and geopolitics? That’s driving Morgan Stanley’s firmwide wealth planning push appeared first on Asian Private Banker.

Independent wealth manager WRISE is moving to cut brokers out of the equation, with founder Derrick Tan arguing that “middlemen don’t add value” as the firm seeks direct partnerships with global insurers to serve ultra high net worth (UHNW) clients. This “upstream” approach, developed over the last few years, has allowed the firm to fully customise and quickly launch structured […]

The post WRISE’s Derrick Tan: “Middlemen don’t add value” — EAM bypasses brokers appeared first on Asian Private Banker.

Goldman Sachs is expanding its art and collectibles advisory business into Asia and the Middle East, aiming to serve more first-generation collectors who are beginning to plan for wealth transfer and legacy. The bank launched its art and collectibles practice in the US six years ago and brought it to Europe three years later. It is now shifting focus to […]

The post Goldman Sachs bets on art advisory in Asia and Middle East as legacy needs rise appeared first on Asian Private Banker.

Despite the financial focus of most family offices, the truth is stark: only 3% of wealth transfer failures over three generations are due to financial issues, such as poor investments or tax planning. The overwhelming majority (97%) stem from relational issues and a lack of next-generation preparedness, according to Citi Private Bank’s Alexandre Monnier. But to tackle these issues, how […]

The post Citi Private Bank leans on global benchmarking to win family office mandates appeared first on Asian Private Banker.

Representing what might be the world’s largest wealth pipeline, with US$83 trillion expected to pass down from generation to generation over the next 25 years in Asia, Patricia Quek gives an exclusive breakdown of how UBS Global Wealth Management (UBS GWM) is engaging the Next Generation (NextGen) of clients. It starts with having difficult conversations about family wealth and legacy. […]

The post “High touch, high tech”: Patricia Quek details UBS’s NextGen playbook appeared first on Asian Private Banker.

Life insurance, traditionally viewed as a simple cash payout upon death, is being repositioned among Asian ultra high net worth (UHNW) individuals as the “ultimate hedge” against portfolio volatility and global estate tax regimes. Rising demand is powering rapid growth for life insurers like Sun Life, despite a fiercely competitive landscape in hubs like Singapore. “As the high net worth […]

The post Singapore life insurers see UHNWs turn to “ultimate hedge” appeared first on Asian Private Banker.

Lombard Odier has maintained a relatively quiet presence in Asia, but certain factors give the bank a competitive edge, even without a booking centre in Hong Kong, according to Omar Shokur, who became regional head of private clients, Asia, in March. Speaking to Asian Private Banker, Shokur outlined the bank’s strategy to “Asianise” its product platform, hire selectively, and strengthen […]

The post Lombard Odier eyes “at least 50%” more bankers in Asia: Omar Shokur appeared first on Asian Private Banker.

A critical fear is haunting the region’s affluent: a majority worry their wealth won’t endure beyond their children’s generation, raising the spectre of a massive, rapid reversal of Asian fortunes, Sun Life Asia’s new survey has revealed. This widespread anxiety stems from a lack of confidence in their heirs. The survey, released on Thursday, found that more than half fear […]

The post Passing the baton or dropping it? Wealthy Asians aren’t so sure appeared first on Asian Private Banker.

Singaporean independent wealth manager WRISE Group has partnered with CTF Life Bermuda to deliver integrated wealth management and legacy planning solutions for clients. In this strategic partnership, WRISE will use CTF Life Bermuda’s solutions to provide tailored strategies addressing the global integrated wealth, health, and legacy planning needs of clients, the wealth manager announced in a statement on Wednesday. This […]

The post WRISE, CTF Life Bermuda team up on legacy planning for private clients appeared first on Asian Private Banker.

Lioner International Group (Lioner) has appointed a general manager with a background in brokerage, bancassurance, and fiduciary-linked services to lead its Hong Kong business. Gary Mak has joined the firm, which specialises in insurance, trust and family offices, as its general manager for Hong Kong, the firm said in a statement on Monday. In his new role, Mak will oversee […]

The post Lioner appoints bancassurance veteran to lead Hong Kong business appeared first on Asian Private Banker.

Sun Life Financial has hired a senior industry veteran from Citi Wealth to lead its high net worth (HNW) business as wealthy clients in Asia increasingly turn to insurance products for their legacy planning and wealth accumulation needs. Based in Singapore, Sujoy Ghosh will join Sun Life as chief executive officer, high net worth, effective 4 November 2025. He will […]

The post Sun Life taps Citi Wealth veteran to lead HNW business appeared first on Asian Private Banker.

Singapore-headquartered multi-family office Farro Capital has launched philanthropy advisory services to help families build legacies beyond financial wealth. The new platform provides tailor-made plans, governance structures, and impact measurement frameworks, with Farro Capital advising families in collaboration with vetted partners. Managing over US$2 billion, Farro Capital already advises ultra high net worth families on investment management, legacy planning, and philanthropy. […]

The post Singapore multi-family office launches philanthropy platform appeared first on Asian Private Banker.

The thorny issue of succession planning has been thrust into the spotlight for wealthy Chinese families as China expands its enforcement of global income tax and a family dispute much-discussed on the Chinese internet raises important questions for dual-jurisdiction trust structures. China’s crackdown and enforcement of global income tax began last year by targeting the ultra rich and has, in […]

The post Wahaha Case and tax crackdown shine spotlight on China’s family trusts appeared first on Asian Private Banker.

The Middle East has been the epicentre of geopolitical uncertainty over the past six months, with flare-ups of tensions between Israel and Iran and in the wider region impacting markets and client portfolios. With clients geographically closer to conflict, WRISE Private Middle East CEO told Asian Private Banker how he has been advising staying “tactically agile” to seize opportunities where […]

The post Build in tactical agility to capitalise on geopolitical volatility – WRISE Middle East CEO appeared first on Asian Private Banker.

The Julius Baer Lifestyle Index, which tracks the cost of luxury goods and services for high net worth individuals (HNWIs), recorded a rare 2% decline in US dollar terms. While the wealthy continue to spend, they are increasingly focusing on health, wellness, and long-term financial security. These findings come from Julius Baer’s Global Wealth and Lifestyle Report, which examined 25 […]

The post HNW spending turns to wellness amid luxury cost decline: Julius Baer appeared first on Asian Private Banker.

Family offices in Asia Pacific may now lead the world in structured succession planning and responsible investing, challenging traditional perceptions of informal governance, according to a recent report by BNP Paribas Wealth Management (BNP Paribas WM). The French bank’s latest 2024 Asia-Pacific Family Office Report, which was jointly conducted by Campden Wealth, surveyed 360 family offices worldwide, including 76 from […]

The post Think APAC lags in succession planning? Think again, says BNP Paribas WM’s Asia CEO appeared first on Asian Private Banker.

HSBC Global Private Banking (HSBC GPB) has appointed a regional head of wealth planning and advisory for APAC, the bank announced in a statement on Friday. Effective 1 July 2025, Ann Ling will be HSBC GPB’s regional head of wealth planning and advisory, APAC. Based in Hong Kong, Ling will report to Lok Yim, regional head of HSBC GPB, APAC. The […]

The post HSBC GPB names APAC wealth planning head appeared first on Asian Private Banker.

Trillions of dollars of wealth in Asia is set to be passed down to the next generation over the coming decade, but how can private banks play a bigger role in capturing those flows with their discretionary portfolio management (DPM) propositions? HSBC Global Private Banking and Goldman Sachs Private Wealth Management shared their strategies for doing so at Asian Private […]

The post DPMLC 2025: HSBC GPB and Goldman Sachs on how to crack the next-gen code appeared first on Asian Private Banker.

Legal complications are becoming more common for divorce and wealth and estate planning matters among U/HNWIs in Hong Kong and mainland China, as the two regions draw ever nearer, legal experts told Asian Private Banker. “The difference in divorce laws between mainland China and Hong Kong is not new, but as wealth has increased so much and people have assets and […]

The post Closer Hong Kong-mainland China ties complicating U/HNW succession planning appeared first on Asian Private Banker.

A former senior executive at Lombard Odier Asia has resurfaced at the family office of Indonesian billionaire Sukanto Tanoto. Based in Singapore, Lee Wong has joined Pacific Eagle Group as a general manager and head of wealth planning, according to her LinkedIn profile. In her new role, Wong will be responsible for ownership structures, family governance and next generation education. […]

The post Ex Lombard Odier Asia family service head joins Indonesian billionaire’s FO appeared first on Asian Private Banker.

BNP Paribas Wealth Management (BNP Paribas WM) APAC held its flagship next-generation event in Hong Kong last week, gathering hundreds of next-generation leaders at Hong Kong’s brand new landmark building, The Henderson. This year marked the 17th year that BNP Paribas WM hosted its flagship “Asia NextGen Experience” for next-generation and emerging leader clients in Asia to explore the future […]

The post BNP Paribas WM targets next-gen leaders with flagship Hong Kong event appeared first on Asian Private Banker.

Indian family business owners face a dilemma. How do they balance family obligations with those of their business stakeholders when it comes to safeguarding and growing their wealth? Poonam Mirchandani thinks she has the answer. Balancing these responsibilities requires careful planning to make sure both the family legacy and the needs of the broader business are well-managed and work together […]

The post LGT believes it has the answer to Indian families’ succession drama appeared first on Asian Private Banker.

HSBC Global Private Banking (HSBC GPB) has seen a significant increase in demand for wealth and succession planning services, the bank’s Henry Lam told Asian Private Banker. “In the past, many discussions [about wealth and succession planning] were often at the fact-finding level, but now clients are genuinely focused on getting it done by investing time in understanding the process […]

The post Wealth planning “cannot take backseat” as next-gen take reins – HSBC GPB appeared first on Asian Private Banker.

With an estimated US$83.5 trillion in assets to be passed down to the next generation over the next 20 to 25 years, private banks recognise the urgency of capturing the next-gen opportunity, private banking CEOs said at Asian Private Banker’s Hong Kong Summit. However, understanding the wants and needs of next-gen clients, as well as how to cater to them, […]

The post APB Summit 2024: BNP Paribas WM, Julius Baer, UBP on engaging next-gen clients appeared first on Asian Private Banker.

Hong Kong’s Raffles Family Office aims to double its manpower in the next two to three years as it sees more ultra high net worth (UHNW) families seeking professional support for their wealth and legacy planning needs amid Asia’s family office boom. “There is a clear lack of professionalised multi-family office (MFO) services in Asia where families in different countries […]

The post “We are competing with PBs, AMs for talent”: Raffles FO aims to double headcount in 2-3 years appeared first on Asian Private Banker.

Insurance broker Charles Monat Associates (CMA) is seeing strong growth in Asia as the firm continues to benefit from a rising interest among Asian families for wealth planning. “In recent years we have observed a significant increase in wealth planning needs, a strong correlation on the growing affluence of Asians. Life insurance plays a crucial role in striking a holistic […]

The post Insurance broker CMA books double revenue in Hong Kong fueled by demand for wealth planning appeared first on Asian Private Banker.

LGT Wealth India has hired a managing director from Barclays Private Bank, the firm said in a statement on Wednesday. Based in Mumbai and effective August 2024, Poonam Mirchandani has been appointed as a managing director for the wealth planning and family solutions division. In her new role, Mirchandani will be responsible for expanding the wealth manager’s offerings in succession […]

The post LGT Wealth India hires MD for wealth planning team from Barclays PB appeared first on Asian Private Banker.

The United Arab Emirates is set to be among the beneficiaries if the UK follows through with proposals to raise taxes affecting U/HNWIs, leading wealth advisors told Asian Private Banker. Following the summer’s election of a Labour government, wealthy individuals with UK exposure will likely face more stringent treatment when it comes to taxation. Prime Minister Sir Keir Starmer teased […]

The post With 9,500 HNWIs set to flee higher UK taxes, which wealth hubs will benefit? appeared first on Asian Private Banker.

Japan’s onshore wealth market is notoriously difficult for international firms to crack. However, Swiss boutique private bank Lombard Odier believes its multi-generational family background resonates with the needs of Japanese clients in the midst of a great intergenerational wealth transfer and will be key to its success. The stickiness of the Japanese markets since the 1980s for domestic names has […]

The post How to succeed where others have failed – Lombard Odier on cracking Japan’s onshore wealth market appeared first on Asian Private Banker.

The Gulf Cooperation Council (GCC), with the United Arab Emirates (UAE) at the forefront, has seen a significant influx of Asian high net worth individuals (HNWIs) post-pandemic. With this inflow of wealth expected to continue, Middle Eastern independent asset managers (IAMs) highlighted to Asian Private Banker how regional firms are adapting their services to cater to the different cultural and investment […]

The post Middle East IAMs: What advisors should know about Asian HNWIs rushing to the UAE appeared first on Asian Private Banker.

Law firms in Hong Kong and Singapore have identified private wealth as a growth area amid huge inflows of mainland Chinese capital, and with more clients seeking wealth protection and succession planning services in an increasingly volatile world. The great wealth transfer in Asia has prompted some law firms to form a dedicated team with full services to clients, add […]

The post Private wealth business booms for Asia law firms amid IPO slump appeared first on Asian Private Banker.

Global private banks operating in Thailand’s onshore market are confident that a new offshore wealth tax will not damage their business in the country, leading private bankers said at Asian Private Banker‘s inaugural Thailand Private Banking Leaders Conversation. The regulatory change, which came into force at the start of this year, means that Thai residents who intend to bring foreign-sourced […]

The post “The uncertainty has lowered”: Global private banks on Thai wealth tax appeared first on Asian Private Banker.

It is not uncommon for private banks and wealth managers to have fine art hanging on the walls of their offices to stun clients. AlTi Tiedemann Global, however, takes a rather different approach to interior design. Instead of art – or perhaps its own twist on modern art a la Marcel Duchamp – the US$65 billion independent asset manager (IAM) […]

The post How a “Wall of Shame” inspires US$65bn IAM to hit new heights appeared first on Asian Private Banker.

Affluent parents in Asia are spending heavily on international education for their children, even at great cost to their retirement plans, a recent HSBC report has found. At the extreme end, the cost of international education can use up to 66% of parents’ retirement savings in markets like India and Indonesia, according to the HSBC Global Quality of Life Report […]

The post Affluent parents sacrificing retirement funds to pay for international education appeared first on Asian Private Banker.

China’s ultra high net worth (UHNW) families are discovering new ways to give to charitable causes which better suit how they grow their own wealth, such as making equity donations, philanthropy experts told APB. Kitty Liu, head of global family office and managing director at China International Capital Corporation (CICC), told Asian Private Banker that philanthropy has become an important […]

The post Common Prosperity pushes China’s philanthropists to discover new ways of giving appeared first on Asian Private Banker.

Singapore’s Temasek Trust has launched a philanthropy advisory services arm and appointed an ex-UBS banker to oversee the platform. The new entity, TT Foundation Advisors (TTFA), will seek to be a one-stop independent provider of philanthropy advisory and management services to philanthropic foundations, family offices, corporations, philanthropists, and charities across Asia. TTFA will be managed by Dickson Lim, a philanthropy […]

The post Temasek Trust taps ex UBS banker for new philanthropy advisory service appeared first on Asian Private Banker.

One of the biggest hidden risks to family wealth is dementia. Along with the stress and care-related concerns, the condition can also leave elderly wealth owners at high risk of financial exploitation. Often a failure to put basic mechanisms in place, such as a will and power of attorney, can lead to families suffering unnecessarily, wealth managers and lawyers told […]

The post The biggest hidden risk to family wealth: Here’s how advisors can plan ahead appeared first on Asian Private Banker.

Hong Kong’s newly established wealth legacy academy aims to support family offices and wealth owners with private, intimate conversations that encourage them to think beyond investments. “For families making decisions about investing in a place, it is not just about whether you have enough policies,” Angel Chia, the Hong Kong Academy for Wealth Legacy’s (HKAWL) executive director, told Asian Private Banker. […]

The post Is the new wealth legacy academy Hong Kong’s secret weapon in FO push? appeared first on Asian Private Banker.

UBS’s foundation has teamed up with a non-profit to help support young people in addressing pressing climate issues in Hong Kong. UBS Optimus Foundation Hong Kong will be the seed funder of the ‘UBS x Melo Social Challenge’, a programme the bank jointly launched with Hong Kong-based non-profit Project Melo, according to a statement on Wednesday. The programme takes the […]

The post UBS foundation seeds youth programme to tackle climate issues in Hong Kong appeared first on Asian Private Banker.

With philanthropy central to Hong Kong’s ambition to build itself as a family office hub, HSBC Global Private Banking (HSBC GPB) believes the key to unleashing this potential is understanding donors’ life experiences to better find projects that resonate with them. The message from the UK bank is a timely one, given the Hong Kong government has just unveiled a […]

The post “Story sharing is crucial”: HSBC GPB on how personal experience shapes giving appeared first on Asian Private Banker.

The CEO of UBS is aiming to boost the Swiss bank’s Asia-derived AUM to 20% of its global total within five to six years, as he struck a confident tone on the integration of Credit Suisse one year after the historic rescue of its once rival. Speaking at an event hosted by the Milken Institute in Hong Kong on Tuesday, […]

The post Sergio Ermotti: Asia will make up 20% of UBS global AUM appeared first on Asian Private Banker.

Family offices in Asia are still “dragging their feet” when it comes to putting in place an appropriate system of family governance, an industry expert told Asian Private Banker, leading to more instances of dramatic fallings out between members worthy of the hit TV show Succession. While many families recognise the importance of passing on legal ownership of their assets, some […]

The post How Asia’s wealthy families can avoid “Succession-like” drama appeared first on Asian Private Banker.

HSBC Life has issued a US$250m life insurance policy to an UHNW, breaking the Guinness Wold Record for the most valuable policy ever sold. The policy, issued and fully underwritten by HSBC Life, was taken out earlier this year by an UHNW customer, the company said on Thursday. The bank added that the contract is an HSBC Life Paramount Global […]

The post UHNWI takes out Guinness record-breaking US$250m HSBC Life policy appeared first on Asian Private Banker.

Engaging with next-generation family members can be challenging, time-consuming and not very profitable. However, engaging the next-gen is still essential, as banks which fail to do so could see their assets under management shrink, BNP Paribas Wealth Management’s (BNP Paribas WM) Taiwan market head, told Asian Private Banker. “There is a lot of noise out there about what banks should […]

The post “Cruel and brutal reality”: Banks that don’t engage the next-gen will see assets shrink – BNP Paribas WM appeared first on Asian Private Banker.

Asia’s great wealth transfer is setting the stage for trust businesses in the region to thrive as wealthy families look to preserve their assets and pass them on to the next generation. A growing number of families in the region are deciding to set up trusts after years of consideration and Singapore stands out as a choice jurisdiction for many […]

The post Bank of Singapore: HNW clients look to trusts amid great wealth transfer appeared first on Asian Private Banker.

We have queried four private banks about how their wealth planning offerings for 2024 compare to the strategies employed in 2023, and the key trends influencing their direction for the new year. Here are their responses, considering the backdrop of increasing efforts of wealthy families in Asia to enhance their wealth planning structures to safeguard assets onshore while employing multiple […]

The post Wealth planning: UBS, StanChart, Pictet, Deutsche Bank’s blueprints for 2024 appeared first on Asian Private Banker.

A great wealth transfer is on the horizon in Asia as entrepreneurs plan to take a back seat from running their businesses, yet most have not yet started the ‘inheritance conversation’ with their families, a recent HSBC Global Private Banking report has found. The inaugural HSBC Global Entrepreneurial Wealth Report revealed that on average more Asian entrepreneurs are planning to […]

The post Asian entrepreneurs unprepared for next-gen wealth transfer, HSBC report says appeared first on Asian Private Banker.

Bank of Singapore (BOS) expects the number of its UHNW clients who set up trust structures in the city-state to more than double this year. In the first six months of 2023, the number of such trust structures that were established through the bank’s wholly-owned subsidiary, BOS Trustee, exceeded the whole of 2022, BOS said on Wednesday. The bank did […]

The post Trust in us: Bank of Singapore eyes wealth planning boom in 2023 appeared first on Asian Private Banker.

One of Singapore’s most famous philanthropists is on a mission to take the hassle out of giving. Laurence Lien, a former nominated member of parliament and chairman of the Lien Foundation, has launched the Asia Community Foundation (ACF), along with other philanthropists, to make the philanthropic efforts of the region’s U/HNWIs simpler, more streamlined and – most importantly – more […]

The post “An MFO for philanthropy”: Is Laurence Lien’s ACF the ultimate vehicle for giving? appeared first on Asian Private Banker.

The transformation of Singapore, Indonesia, and Malaysia from import substitution to thriving economies, coupled by shifts in wealth management and improved credit ratings, underscores the vital role of the next generation, says David Lim, BNP Paribas Wealth Management. Drawing from extensive experience in banks such as Julius Baer and Credit Suisse, with a focus on Southeast Asia, the seasoned wealth […]

The post BNP Paribas WM’s David Lim spots three SEA wealth trends in globalisation appeared first on Asian Private Banker.

Mainland Chinese UHNW clients prefer ‘jumbo’ life insurance, also known as universal life insurance, due to its immediate leverage and minimal costs while maintaining liquidity, Shirley Shen, CEO of DL Emerald, a Hong Kong-based licensed insurance broker that serves family office clients, told Asian Private Banker. “Jumbo life insurance policies serve as the cornerstone and fundamental firewall for UHNW families’ […]

The post Why Chinese clients prefer jumbo life insurance appeared first on Asian Private Banker.

Following the merger with Credit Suisse, UBS will manage approximately US$800 billion in Asia, Edmund Koh, president of UBS Asia Pacific, revealed on Friday at a closed door family office event in Singapore. Speaking at the UBS Family Office Forum 2023, Koh said with the recent combination of UBS and Credit Suisse, the group is now a global wealth management […]

The post Post-merger APAC AUM is about US$800 billion: UBS’s Edmund Koh appeared first on Asian Private Banker.

Preserving client wealth is the number one priority for private bankers and asset managers this year, according to the latest APB Pulse survey, amid myriad risks from volatility to banking crises to geopolitical uncertainty. The APB Pulse poll asked readers across our website and LinkedIn page: “What is the Top Priority for Clients in 2023?’, giving them the options of […]

The post Private banking clients want this one thing in 2023: APB Pulse appeared first on Asian Private Banker.

Earlier this year, the Hong Kong government announced that it would soon relaunch its residency-by-investment scheme, allowing investors and their dependents to gain residency status by investing in local assets. While such schemes can offer the chance of relocation to high-net-worth individuals (HNWIs) willing to make local investments, navigating such schemes requires careful planning, says Jennifer Lai of DL Holdings […]

The post Hong Kong’s residency for investment scheme a ‘golden opportunity’ for HNWIs appeared first on Asian Private Banker.

With Hong Kong competing to be a philanthropy hub in Asia, the city has a unique edge when it comes to supporting philanthropists, Anthony Gao, head of Philanthropy Services, Asia, Pictet Wealth Management, told Asian Private Banker. “Hong Kong has a long history of giving, and many families in Hong Kong have been working on philanthropy for a long time,” […]

The post Pictet: Three ways Hong Kong has an edge in philanthropy appeared first on Asian Private Banker.

While the bank’s acquisition of Credit Suisse may have grabbed headlines, UBS has also been busy making trophy additions of a very different kind. At the recent Art Basel Hong Kong 2023 event, the Swiss bank was busy showcasing some of the highlights of its collection of more than 30,000 works by artists of differing profiles – a collection that […]

The post “Art is a passion we share with our clients”: UBS appeared first on Asian Private Banker.

China has three cities sitting among the world’s top wealthiest, according to a report compiled by investment migration firm Henley & Partners. In addition, six of the top ten spots globally were taken by cities in Asia Pacific. Hong Kong, Beijing, and Shanghai take the 7th, 8th and 9th places for having 129,500, 128,200 and 127,200 millionaires, respectively. Hong Kong […]

The post Where does Asia fit among top ten cities for millionaires? appeared first on Asian Private Banker.

UBS hopes that its new charitable offering in Hong Kong will help “lower the barriers so that we can do good together” alongside clients. Among the new philanthropic offerings announced by the bank this week is a new foundation, as well as a new donor-advised fund offering in Hong Kong, as an alternative to clients setting up their own foundation. […]

The post How UBS wants to ‘simplify giving’ with new philanthropy offering appeared first on Asian Private Banker.

HSBC Global Private Banking (HSBC GPB) has appointed a new head of regional wealth planning advisory for Asia-Pacific from Credit Suisse, several months after the previous occupant of the role departed to join a single-family office. Henry Lam, who begins his new job on 28 March, was since 2017 managing director and head of wealth solutions, Asia-Pacific, at Credit Suisse, […]

The post HSBC GPB hires APAC wealth planning head from Credit Suisse appeared first on Asian Private Banker.

VP Bank may be smaller compared to some of its larger private bank peers, but its history of serving intermediaries and family offices, as well as its nimble structure, allows for it to out-compete in this space. That was reflected in the lender having  been named as Best Private Bank – Intermediary Services at Asian Private Banker’s Awards for Distinction […]

The post Why size doesn’t matter for VP Bank when it comes to serving FOs appeared first on Asian Private Banker.

Asia’s U/HNW clients are catching up with their international peers when it comes to sophistication in wealth preservation and asset protection, according to Wai Soon Lum, managing director of Wealth Management Advisory & Sales and head of Wealth Planning Greater China, UBS Global Wealth Management, speaking to Asian Private Banker. Clients today in Asia are very different from 10 years […]

The post How Asia’s HNWIs are catching up with wealth planning appeared first on Asian Private Banker.

Clients are asking wealth managers more questions about relocation and residency planning following the pandemic, wealth managers at UBP told Asian Private Banker. UBP’s Asia business has a focus on serving UHNWIs and family offices in its offshore hubs of Hong Kong and Singapore. According to Fan Choi, UBP’s head of wealth planning, North Asia, based in Hong Kong, the long […]

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While conversations between private banks and their clients on wealth planning and family offices have become increasingly common over the last couple of years, EFG has warned that taking a cookie cutter approach to these solutions will not work. Based in Singapore, Rohit Ganguli, head of wealth planning Asia, at the Swiss boutique, works closely with a global team of […]

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Rapid wealth creation in mainland China in the past two decades has created a huge opportunity for the likes of DL Family Office (DLFO). The Hong Kong-based business, which also has offices in Shanghai, Singapore and San Francisco, was founded in 2012 to tap surging demand for wealth management services. “We are proud to say that DL is one of […]

The post How one “pioneering” MFO rode China’s wealth boom appeared first on Asian Private Banker.

Credit Suisse has a positive outlook for its family office and wealth planning businesses this year in Hong Kong, as the government is introducing an incentive scheme aimed at setting up the city as a family office hub, Thomas Ang, global head of family office services of Credit Suisse, told Asian Private Banker. With the government scrapping COVID-19 restrictions such […]

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Philanthropy is an important focus for the next generation of rich families in Asia as they prepare to take responsibility for the wealth their elders have built up. HNWIs and their families – those with a net worth of US$5 million or more – are expected to transfer a combined US$18.3 trillion across generations by 2030, of which Asia will account […]

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Private bank clients are becoming increasingly concerned about social inequality and justice as the COVID-19 pandemic recedes, according to Deutsche Bank International Private Bank’s (Deutsche Bank IPB’s) head of wealth planning solutions in Asia-Pacific. That is prompting them to think more closely about succession planning. If families are to achieve their financial goals, the wealth planning services that banks offer […]

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This is a sponsored article from Morgan Stanley. The pandemic has added a sense of urgency to the need for succession planning of Asian HNW families, with more families anxious to start earlier with their preparations for passing on wealth to the next generation. Morgan Stanley Private Wealth Management Asia shared with Asian Private Banker what makes a good succession […]

The post This is how family legacy can be succeeded by Next Generations: Morgan Stanley PWM Asia appeared first on Asian Private Banker.

The rapidly changing global economic and regulatory environment is driving families to seek better wealth planning strategies. Angie Han, head of wealth planning, south Asia, Pictet Wealth Management, who has worked in the industry for 15 years, talked to Asian Private Banker about the trends she is seeing in the region. The need for governments around the world to raise […]

The post How Pictet is helping families implement sustainable wealth plans in Asia appeared first on Asian Private Banker.

Many families have used a period dominated by COVID-19, regulatory change and geopolitical tensions to reflect on their priorities and attitude to risk. Julius Baer, the Swiss pure-play, says these complexities have accelerated demand from families for wealth planning. Families have realised the importance of working with wealth planning professionals on issues such as succession planning, family governance and legacy […]

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This is a sponsored article from Morgan Stanley. The private wealth management industry is seeing changes in the wealth planning needs and priorities of HNW families. Morgan Stanley explains to Asian Private Banker how these changes affect the key roles of private banks. Susanna Fung, head of asset planning group, Morgan Stanley Private Wealth Management Asia, has been in the […]

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This is a sponsored article from Credit Suisse. The largest intergenerational transfer of wealth is taking place today among the wealthiest families globally. Between now and 2029, US$8.6 trillion of global high net-worth wealth will be transferred from one generation to another. But that headline figure does not illustrate the challenges and complexities involved in handing down wealth from one […]

The post Planting the seeds of trust now that will bear fruit over a lifetime appeared first on Asian Private Banker.

Swiss private banking giant UBS is seeing increased interest by HNW investors to take up life insurance policies that have been designed to boost financial resilience in an uncertain financial market environment. HNW clients used to favour universal life (UL) insurance policies, a permanent life insurance with an investment savings element built in. HNWIs liked ULs for their design flexibility. […]

The post The HNWI quest for mortality hedges: Alexander Tan of UBS appeared first on Asian Private Banker.

Partners from law firms Charles Russell Speechlys (CRS) and Withersworldwide (Withers) explain Asian clients’ growing awareness of the need for wealth planning and offer their views on the rivalry between Asia’s two main wealth hubs. Hong Kong and Singapore have been wealth management hub rivals for years. The difference in their approach to tackling the COVID-19 has been stark — […]

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What a difference a few years can make to your business. “Up until the end of 2019, roughly 40% of our customers’ premium inflow was derived from non-resident Chinese customers,” Edward Moncreiffe told Asian Private Banker. And before the pandemic, distribution through-third party brokers was higher than from the HSBC brands. “Now, clearly that non-residents market has gone,” the CEO […]

The post Local pivot offsets loss of mainland Chinese business for this US$60B life insurer appeared first on Asian Private Banker.

With vast amounts of wealth on the cusp of being transferred to the next generation, open and honest conversations around personal preferences and values are still not quite in place among HNW families, according to Lee Wong from Lombard Odier. Although succession planning has gained in prominence — especially during the pandemic — the head of family services for Asia […]

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The growing number of HNWIs in China and elsewhere in Asia is fuelling Singapore’s status as the region’s leading hub for wealth management and family office services, believes offshore law firm Carey Olsen. At a recent event, Rachel Yao, head of Carey Olsen’s trust and private wealth practice in Asia, pointed out that China’s total size of investable assets reached […]

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Hong Kong’s insurance market has shrunk by almost 40% over the last two years after COVID-19 travel restrictions choked off the flow of U/HNWIs from mainland China to the city, according to a study. The survey by Deloitte and BOC Life, published on Friday, found that the value of new standard premiums was HK$79 billion in 2021. That was a […]

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Lioner International Group, an insurance, trust and family office consortium, has established an entity in Singapore to expand its service network. The move, announced on Wednesday, is part of efforts by Lioner to meet the needs of HNW clients in the Southeast Asia market through insurance and other wealth-focused solutions by utilising its partnership model and talent pools in Hong […]

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RBC Wealth Management considers wealth planning as an “educational journey”, during which clients learn and discover the meaning of wealth planning. This approach to wealth planning sets RBC WM apart from other banks, that see wealth planning as a solution-driven service, explained Vivian Kiang. Some banks may immediately lead clients into setting up a trust structure, a will, or insurance […]

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Bank of Singapore on Tuesday announced the appointment of two wealth planning veterans with a view to strengthening its expertise offered to HNW families. Based in Hong Kong, Christine Wong has been named as head of wealth planning for Greater China and North Asia on 19 May. She will report locally to Teresa Lee, head of Greater China for Hong […]

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The gradual but significant transfer of Asian wealth to the next generation is changing how philanthropy is practised in the region. Three banks share their observations with Asian Private Banker. More than merely “cheque writing” Garth Bregman, head of investment services, Asia Pacific, BNP Paribas Wealth Management, told Asian Private Banker that he has observed that many next-gen clients have […]

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As the fifth wave of COVID-19 strikes Hong Kong, straining hospitals and adding hardship to the livelihoods of vulnerable communities, three private banks shared with Asian Private Banker how their philanthropy teams are channelling charitable funding from clients to alleviate the plight of the needy. BNP Paribas WM BNP Paribas Wealth Management has observed increased client interest in supporting local […]

The post As Hong Kong buckles under fifth COVID wave, BNP, HSBC and UBS explain philanthropic advisory services appeared first on Asian Private Banker.

Pictet Wealth Management Asia has created the role of head of philanthropy services in the region to meet the increased demand for professional advisory in that regard, Asian Private Banker has learnt. Anthony Gao has been appointed to lead the philanthropic advisory services in Asia. He reports locally to Alex Ng, North Asia head and CEO Hong Kong Branch at […]

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UBP has appointed a new leader for its wealth planning function in South Asia, replacing Faye Ong who left the bank in mid-2021. Effective last week, Robert Phua has been named as the head of wealth planning South Asia at the Swiss pure play. Based in Singapore, Phua will be responsible for growing the Swiss boutique lender’s wealth planning business […]

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As more next-gen members are becoming the decision-makers in the family business, succession planning is moving beyond preserving the family wealth for future generations. “Wealth planning is not always about the transition of wealth; that’s not necessarily what everyone wants to achieve,” Steven Weekes told Asian Private Banker. Leaving a legacy The head of trust and fiduciary services, Southeast Asia […]

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“Private banks focus on investment, and are of less help to clients dealing with issues such as tax planning, and succession planning,” argued Andrew Chan. “As an insurance brokerage and trust licence holder, we complement private banks in the ecosystem,” the partner at Lioner International Group told Asian Private Banker. “Some private banks may have their in-house trust planning team, […]

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