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.

The Monetary Authority of Singapore’s (MAS) revised framework for single-family offices (SFOs) came into effect on 15 June 2026, introducing a simplified regulatory regime designed to make it easier for wealthy families to establish operations in the city-state while enhancing regulatory oversight. Under the revised framework, qualifying SFOs can benefit from a class exemption from licensing requirements regardless of their […]

The post Singapore’s streamlined framework for single family offices kicks in appeared first on Asian Private Banker.

Investors can expect “robust scrutiny” rather than a “light touch” as the Monetary Authority of Singapore moves to prevent Variable Capital Companies (VCCs) from being abused for money laundering, independent wealth managers warn. The MAS issued a warning to fund managers in January regarding the use of VCC structures for money-laundering purposes. The warning, which had not been reported until […]

The post MAS VCC crackdown: Expect “robust scrutiny,” wealth managers warn 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.

Maybank’s private banking in Malaysia saw assets and fees surge in 2025, with new assets rising 20% to RM 31 billion (US$7.78 billion) and fee income up 15%. The bank expanded its presence beyond Kuala Lumpur into Penang, Sarawak, Sabah, and opened a private wealth desk in Johor. Rising demand from wealthy individuals, who now allocate over half of their […]

The post From KL to Johor — Has Maybank found the right UHNW formula in Malaysia? appeared first on Asian Private Banker.

If you ask Paul Lee, CEO and CIO of Paragon Capital Management, how the independent asset manager (IAM) has multiplied its AUM by six in under a decade, he might point to the firm’s discretionary model, and, perhaps surprisingly so, the complete lack of exposure to private credit investments. “Now, whatever I say at this point in the market, you […]

The post IAM that skipped ‘private credit’ sees AUM surge sixfold appeared first on Asian Private Banker.

Southeast Asia’s family office surge is entering a more complex phase. After years of rapid proliferation — particularly in Singapore — many families are now reassessing whether the single-family office (SFO) model remains fit for purpose. The shift is not about abandoning the model altogether, but about confronting the realities of scale. What began as lean, founder-led structures are evolving […]

The post New phase for SEA family offices? Julius Baer, DBS PB, Raffles FO weigh in 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.

On any given day, Bryan Goh finds himself having to strike a delicate balance. This careful balance, said the CEO and CIO of Singapore’s Tsao Family Office, lies between creating value for the benefit of the firm and its beneficiaries and deciding when to forgo income-generating opportunities because those investments are simply too unsustainable and decidedly harmful to the planet. […]

The post “It can be tempting”: Tsao Family Office on returns vs impact appeared first on Asian Private Banker.

Raffles Family Office has teamed up with software company GoUpscale and management consultancy firm Synpulse to launch an operating platform for Asian external asset managers (EAMs) and multi-family offices (MFOs).  The platform, dubbed Quantive Partners, aims to reduce fragmentation across custodians, improve risk visibility and data integrity, and aid EAMs and MFOs in the portfolio decision-making process, according to a […]

The post Raffles Family Office collaborates to launch an operating platform for EAMs appeared first on Asian Private Banker.

Hong Kong is sweetening the pot for single-family offices (SFOs) by expanding tax concessions to include digital assets, specified commodities and precious metals, a move designed to cement the city’s status as a top-tier wealth hub amid fierce regional competition. It will introduce an amendment bill in the first half of this year, with a view to implementing it from […]

The post Hong Kong 2026 Budget: Government lures SFOs with tax concessions for gold, digital assets appeared first on Asian Private Banker.

The number of single-family offices (SFOs) in Hong Kong has increased by around 25% over the past two years as the Asian financial hub continues to see strong growth momentum for its wealth management industry. Hong Kong has attracted an additional 681 SFOs to establish their businesses in the city since the end of 2023, when there were 2703 family […]

The post Hong Kong family office boom: New SFOs jump 25% in two years appeared first on Asian Private Banker.

US-based multi-family office (MFO) Avestar Capital has opened a new office in Singapore, joining a growing list of private wealth firms seeking to court wealthy individuals in the city-state. The new office will serve as Avestar’s Asia Pacific hub, and will provide tailored wealth management services for ultra high net worth (UHNW) families across the region, the firm said on […]

The post US-based MFO branches into Singapore, appoints ex-Citi exec as CEO appeared first on Asian Private Banker.

As private banks compete fiercely for single-family office (SFO) wallet share, Pictet Wealth Management in Singapore is seeing SFOs emerge as a fast-growing segment, driving net new money. The Swiss pure-play is leveraging its long-term, investment-led approach to capture a larger share of this expanding market. “Family offices have always been a cornerstone client group for Pictet globally,” Alison Lim, […]

The post Pictet WM Singapore CEO: Single-family offices main source of net new money appeared first on Asian Private Banker.

As the saying goes, you reap what you sow. And for Invest Hong Kong’s (InvestHK) Jason Fong, Hong Kong’s family office boom is no accident but the result of several years of intense effort behind the scenes, looking to sow the wind to reap the whirlwind. Fong joined InvestHK in 2023, tasked with revamping Hong Kong’s family office ecosystem. This effort, […]

The post “Now, we’re harvesting”: Jason Fong on Hong Kong’s next family office push appeared first on Asian Private Banker.

What are the top priorities for Asia’s ultra high net worth (UHNW) families today? According to a recent report by Julius Baer, the Family Barometer Report 2025, released on Tuesday, their priorities are shifting. In an environment of rising geopolitical and regulatory uncertainty, family legacy now ranks among the top concerns for Asia’s wealthy families. “For the first time, ‘Building […]

The post Julius Baer: Family legacy now a top priority for Asia’s UHNWs 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.

The Monetary Authority of Singapore (MAS) has admitted that processing times for its tax incentive scheme for single-family offices (SFOs) have been too slow, and has vowed to simplify and speed up the process. During a speech at the Global-Asia Family Office Summit organised by the Wealth Management Institute (WMI) on Monday, Chee Hong Tat, MAS deputy chairman and minister […]

The post MAS vows to improve wait times for SFO tax incentive scheme appeared first on Asian Private Banker.

Three months ago, Ling Pong – a Goldman Sachs veteran of nearly 20 years – took the helm as head of North Asia for its Private Wealth Management (PWM) division. Facing an expanding mandate, she told Asian Private Banker how the US bank is capitalising on recent market momentum, while highlighting investment trends among family office clients. With a strong […]

The post Goldman Sachs’s PWM North Asia head talks business momentum 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.

Retaining top professionals is proving a major challenge for Asia Pacific family offices, pushing firms to cover their bases with outsourcing and hastening artificial intelligence (AI) adoption, a recent industry survey by Campden Wealth and AlTi Tiedemann Global has found. Talent is a top concern for Asia Pacific family offices, with 38% of respondents saying it is “difficult” or “extremely […]

The post Asia Pacific family offices have a talent retention problem appeared first on Asian Private Banker.

As Asia’s single-family offices (SFOs) embrace digital transformation, their top concern isn’t portfolio returns – it’s protection. A growing number of SFOs in the region, particularly in wealth hubs like Hong Kong and Singapore, are prioritising cybersecurity and risk controls as they modernise their operations, according to a recent industry report. The findings from Deloitte Private’s Family Office Insights Series: […]

The post Asia’s single-family offices put security first in digital push appeared first on Asian Private Banker.

China’s ultra-wealthy families are expanding their businesses globally amid rising market volatility, while placing greater emphasis on family governance to ensure smooth wealth transfer to the next generation. That is according to leading private wealth advisors at Asian Private Banker’s inaugural China Global Wealth Summit, which was attended by about 500 high-profile delegates. Entrepreneurial families in the world’s second-largest economy […]

The post APB CGWS: Global ambitions and governance drive China’s wealthy appeared first on Asian Private Banker.

Some of Asia’s wealthiest families are looking to scoop up private investment opportunities in Europe and the US, anticipating a pick up in M&A activity will fuel growth for mid-market opportunities, according to industry experts and leading family offices. “The families I have behind me are Asian families. They’re looking at diversification outside of Asia, going into the US and […]

The post Wealthy Asian families hunt for private mid-market gems in Europe and US appeared first on Asian Private Banker.

Being one of the largest property agents in the city, Centaline Property Agency is an instantly recognisable and omnipresent feature on the streets and malls of Hong Kong. But Centaline Group now has its eyes on a new line of business, having recently established its own multi-family office (MFO), which is aiming to hit US$1 billion in assets under management […]

The post “A perfect match”: Why is this Hong Kong property agency entering the MFO market? appeared first on Asian Private Banker.

Political stability remains a top priority for wealthy families in Asia, according to Swiss pureplay Julius Baer’s new flagship Family Barometer Report 2024, while inflation protection has also emerged as a key concern. The report, which surveyed wealthy families around Europe, Asia, the Middle East, and Latin America, also found that topics like succession planning, individual and family growth opportunities, […]

The post Tax, stability, inflation: Julius Baer reveals what’s on the minds of Asia’s wealthy appeared first on Asian Private Banker.

Hong Kong and Singapore have been competing to attract Asia’s wealthy families with benefits such as tax concessions and residency rights. However, while the competition is healthy, the two wealth hubs are missing out on potential opportunities for collaboration in the family office space, believes professor Winnie Peng from the Hong Kong University of Science and Technology. Peng believes Hong […]

The post Better together? Why Hong Kong and Singapore should team up on family offices appeared first on Asian Private Banker.

Singapore has seen continued growth in its family office sector this year and has vowed to continue to welcome legitimate wealth with an enhanced ecosystem of service offerings. “In the first eight months this year, we added another 250 to reach 1,650 single-family offices (SFOs),” said Chee Hong Tat, minister for transport and second minister for finance, at the Global-Asia […]

The post Singapore sees continued single-family office momentum as total hits 1,650 appeared first on Asian Private Banker.

In Singapore, two Chinese former relationship managers (RMs) were charged in court earlier today for offences linked to a major money laundering case last year, including money laundering, forgery and obstruction of justice. Wang Qiming and Liu Kai were charged in court on Thursday morning for their roles in assisting a group of ten Chinese nationals now convicted in a […]

The post Singapore money laundering case: Two Chinese former RMs charged in court appeared first on Asian Private Banker.

Net fund inflows into Hong Kong’s private banking and wealth management industry more than tripled in 2023, representing a significant bounce back for the industry. However, they remain well below pre-pandemic levels. This is according to official data published by financial secretary Paul Chan in a blog post on Sunday. The data show net fund inflows into Hong Kong’s private […]

The post Hong Kong enjoys US$50bn private wealth bonanza in 2023 appeared first on Asian Private Banker.

Family offices in Asia Pacific are returning to balanced portfolios and looking to increase their allocations to developed market fixed income and alternatives, according to UBS Global Wealth Management’s (UBS GWM) flagship global family office report 2024. The report found family offices are moving towards more balanced portfolios, which saw allocations to developed market fixed income rise by the largest […]

The post Balanced portfolios are back for APAC’s family offices – UBS GWM appeared first on Asian Private Banker.

As family office interest in alternatives continues apace, these firms are still finding their interests out of alignment with alternatives fund managers. According to a recent report from alternative intel provider Preqin, family offices in APAC and ME are demanding more transparency regarding fund conditions and fees, which may be in part due to lacking the due diligence capacity and […]

The post APAC family offices demand greater transparency from alts managers appeared first on Asian Private Banker.

A Dubai royal who announced his intention to establish a US$500 million family office in Hong Kong, only to then delay the launch, has seen parts of his online presence disappear. The Private Office of Sheikh Ali bin Rashid Al Maktoum’s LinkedIn page and that of its chief marketing officer were inaccessible as of Thursday afternoon Hong Kong time. The […]

The post Dubai sheikh behind US$500m HK family office sees parts of internet presence vanish 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.

A Dubai royal has postponed the high-profile launch of his US$500 million Hong Kong family office, in a minor setback for the Asian wealth hub’s push to attract Middle East capital. Sheikh Ali bin Rashid Al Maktoum – whose putative family office had been targeting investments in Asia ranging from fintech, to artificial intelligence, to sustainability – had scheduled an […]

The post Bottom Line: Dubai royal delays launch of US$500m HK family office appeared first on Asian Private Banker.

Dubai could provide family offices with opportunities distinct from Hong Kong and Singapore, due to the Middle Eastern wealth hub’s unique strengths, challenges and prospects. Meanwhile, the age-old Hong Kong-Singapore rivalry is in fact completely overblown. These are some of the views of family office leaders in Final Word 2023, Asian Private Banker’s annual review of the insights and opinions […]

The post Final Word 2023: Family offices see new frontier in Dubai appeared first on Asian Private Banker.

The way in which family offices think about philanthropy is changing, with the next generation putting more emphasis on developing an effective philanthropic strategy, going beyond traditional charitable donations. This is according to a recent report from DBS Private Bank, The Asian Family Office: Driving Impact and Innovation, which surveyed over 200 senior executives in single-family offices across the region to […]

The post Next gens going beyond “chequebook philanthropy”, says DBS PB report appeared first on Asian Private Banker.

Patrick Tsang has made it his mission to bring more Middle Eastern investors to Hong Kong to show them what the city has to offer. As a single-family office, Tsangs Group might be one of the most well-known family offices in Hong Kong. Patrick Tsang, group chairman, is a 14th-generation family member, and like many old-money Hong Kong families, the […]

The post Patrick Tsang is on a mission to bring the Middle East to Hong Kong appeared first on Asian Private Banker.

2023 was the year in which the Hong Kong government ramped up the dial on promoting family offices in the city. But why now? Outside the industry, the prosaic concept of families setting up private offices to manage their own wealth was suddenly thrust into the limelight – not only as a key selling point for Hong Kong as an […]

The post APB Deep Dive: Inside Hong Kong’s grand plan for family offices appeared first on Asian Private Banker.

With rising wealth in China, Hefeng Family Office is aiming to offer international best practices in a way that is suitable to mainland investors, Leon Liu, partner at the multi-family office, told Asian Private Banker. Although China has significant wealth, local investors have some catching up to do with investment philosophy and methodology, as well as with establishing a framework […]

The post Why Chinese wealth clients need to “change their mindset” appeared first on Asian Private Banker.

While family offices are on the rise in Hong Kong and Singapore, the need for effective governance to mitigate investment risk can be overlooked. In the years following the headline-grabbing collapse of Archegos Capital Management, have family offices learnt their lesson? This is according to Professor Winnie Peng, director of the Roger King Center for Asian Family Business and Family […]

The post Governance planning still lacking among Asia’s family offices appeared first on Asian Private Banker.

This is a sponsored article from Bank of Singapore. Traditionally cast in a more inconspicuous backstage role in the world of private banking in Hong Kong, the family office has suddenly moved into the full glare of the spotlight. As Teresa Lee, Head of Greater China at Bank of Singapore’s Hong Kong Branch puts it, “this year the family office […]

The post The family office comes to the fore in Hong Kong appeared first on Asian Private Banker.

Singapore is overwhelmingly the region’s preferred destination for establishing family offices, according to the latest APB Pulse data, despite recent efforts by Hong Kong to boost its toehold in this market. Of the hundreds of executives from private banks, family offices and asset managers polled by APB Pulse across the Asian Private Banker website and LinkedIn, 60% said that Singapore […]

The post Hong Kong vs Singapore: Which is on top for family offices? appeared first on Asian Private Banker.

The former Southeast Asia market leader at Pictet Wealth Management (Pictet WM) has resurfaced at a new multi-family office (MFO) in Singapore, according to a recent announcement. Jonathan Ng, whose departure was first reported by APB last month, will lead newly-established MFO Tembusu Wealth Management in Singapore. The MFO is a partnership between Singapore-based boutique private equity firm Tembusu Partners and […]

The post Former Pictet WM SEA market leader resurfaces at new MFO appeared first on Asian Private Banker.

Interest in digital assets is growing with around 20% of high-net-worth (HNW) families in APAC having exposure to the new asset class, while single-family offices (SFOs) are moving the fastest into this space, according to Matt Long, general manager APAC of digital assets platform prime brokerage FalconX. “The families and the investors that we speak to have a definite interest […]

The post HNW interest in digital assets growing, led by SFOs appeared first on Asian Private Banker.

Family offices in Asia Pacific are increasingly turning to alternatives, particularly private debt and hedge funds, amid an environment of rising macroeconomic and geopolitical risk, according to a report from Preqin. According to the report, which surveyed more than 50 single-family offices and multi-family offices in Asia Pacific, family offices are looking toward private debt over the next 12 months […]

The post APAC family offices turn to alts amid macroeconomic risk appeared first on Asian Private Banker.

Over the next five years, family offices in Asia Pacific plan to increase their allocations to alternative investments, and are more likely to diversify with hedge funds than their global peers, according to research revealed on Thursday. “Asia Pacific family offices continue a strategic asset allocation shift towards alternatives as their private equity investments were mostly allocated to funds last […]

The post Hedge funds “recipe for success” for APAC FOs: UBS appeared first on Asian Private Banker.

Sharon Sim may not be a familiar name to many, but her experience working in wealth management and her drive to pursue her passions may inspire others who want to step out of private banking. Sim first started her career in equity sales during the dot-com bubble in the late 1990s and later moved to wealth management when the industry […]

The post Want to leave private banking? It takes more than a leap of faith, says Sharon Sim appeared first on Asian Private Banker.

Hong Kong-headquartered Tsangs Group has hired an industry veteran to explore the North American market. Christopher Myers has joined the family office as director of the Group, focusing on North American opportunities. Myers will bring his knowledge and experience to the Group through his experience as a CEO, an investor, a professor and an author. He is the CEO of […]

The post Hong Kong family office makes senior hire to tap North American market appeared first on Asian Private Banker.

Family offices are on the rise in Hong Kong, with the government announcing a raft of measures to attract family offices to set up in the city. While this space is gaining traction, there is a palpable lack of certainty surrounding an upcoming shakeup of the family office tax regime, according to Katie Graves, a Hong Kong-based private client and […]

The post Hong Kong’s family office tax concessions “in limbo” appeared first on Asian Private Banker.

UBS Global Wealth Management (GWM) is taking a leading role in working closely with the Hong Kong government to bring global family offices to the city, according to Andrew Lo, the Swiss bank’s head of family advisory & family office solutions, Greater China. The family office industry in Hong Kong had a busy week in late March in welcoming global […]

The post UBS GWM: Why Hong Kong is first choice for family offices appeared first on Asian Private Banker.

Singapore’s new tax incentive scheme for philanthropic donations has been lauded for its “immense potential” to attract further UHNWI capital to the Southeast Asian city-state, by Raffles Family Office, a major multi-family office which operates in Singapore and Hong Kong. In its 2023 budget announced this week, Singapore’s Ministry of Finance said it would introduce a tax incentive scheme for […]

The post Singapore tax break a “unique opportunity” – major MFO appeared first on Asian Private Banker.

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 […]

The post No appetite for “cookie cutter” approach on family offices: EFG appeared first on Asian Private Banker.

Family offices in mainland China will increasingly look to set up shop in Hong Kong in 2023 following the re-opening of the world’s second-biggest economy, according to a leading academic in this field. However, more work still needs to be done to attract family offices. Professor Winnie Peng, director of the Roger King Center for Asian Family Business and Family […]

The post Why China’s family offices are setting their sights on Hong Kong in 2023 appeared first on Asian Private Banker.

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.

COVID-19 and volatile geopolitics have prompted Hong Kong’s wealthy to look at setting up additional family offices outside the city as a way of diversifying their risk – but they are not leaving. That is according to Angel Chia, the new chairperson of the Family Office Association of Hong Kong (FOAHK). Chia told Asian Private Banker that the association is […]

The post Why wealthy families are “absolutely not” leaving Hong Kong appeared first on Asian Private Banker.

Despite their stomach-churning volatility, digital assets are still capturing the attention of family offices (FO) and HNWIs in Hong Kong and Singapore. This is according to KPMG’s Investing in Digital Assets – Family Office and high-net-worth investor perspectives on digital asset allocation report, co-launched with Aspen Digital on Monday. For the report, KPMG surveyed 30 FOs and HNWIs in the two […]

The post What 60% drop? Family offices and HNWIs are still keen to dabble in crypto appeared first on Asian Private Banker.

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 […]

The post Wealth planners as holistic navigators: Morgan Stanley appeared first on Asian Private Banker.

Hong Kong-based Raffles Family Office (Raffles FO) has launched a new investment platform that will make it easier for UHNW families to tap into digital assets. The Revo Digital Family Office (Revo DFO) provides a one-stop solution including aggregation, independent asset management, gatekeeper and private wealth advisory services for both UHNW families with traditional assets and crypto-native investors. “Revo DFO […]

The post Raffles Family Office launches platform for digital assets appeared first on Asian Private Banker.

FamilyOfficeHK wants to bring more family offices from the Middle East to Hong Kong to support the city’s venture capital (VC) ecosystem. The government unit, which was created in mid-2021, has brought 14 family offices to Hong Kong in the past year, with 30% of that coming from mainland China. Christine Ho, deputy global head of Family OfficeHK, which is […]

The post Hong Kong looks to Middle East family offices for VC investment appeared first on Asian Private Banker.

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 […]

The post Why Singapore is a “rising star” for China’s family offices appeared first on Asian Private Banker.

The Monetary Authority of Singapore has set new requirements for family offices to qualify for tax incentives, according to a circular seen by Asian Private Banker. From 18 April, under the new section 13O, funds managed by or advised directly by a family office must have a minimum fund size of S$10 million at the point of application. Previously, there […]

The post Singapore hits family offices with new tax incentive requirements appeared first on Asian Private Banker.

When Shirley Crystal Chua took a leap of faith to go independent 10 years ago and set up Golden Equator Wealth in Singapore, she was entrusted with the wealth management needs of eight UHNW families. Today, her multi-family office (MFO) helps to manage the wealth of 40 families across Asia, and the business has evolved into a holding company. For […]

The post “It wasn’t easy”: Golden Equator group CEO talks past, present and future appeared first on Asian Private Banker.

As the bank seeks to strengthen its service proposition in family advisory, UBS Global Wealth Management (UBS GWM) has made two senior appointments to its Advisory & Sales (A&S) client services team in Greater China, according to an internal memo seen by Asian Private Banker. The Swiss bank named Amy Lau as family advisor, director, in a memo distributed internally […]

The post UBS GWM makes two senior appointments to Asia family advisory team appeared first on Asian Private Banker.

Credit Suisse has appointed a new head of external asset managers (EAMs), Asia-Pacific, from Swiss rival UBS Wealth Management (UBS WM), according to an internal memo seen by Asian Private Banker. Hugo van Kattendijke, currently head of financial intermediaries, APAC, at UBS, will join Credit Suisse from 13 June, according to the memo. He will move from Hong Kong to […]

The post Credit Suisse appoints head of EAM APAC from UBS appeared first on Asian Private Banker.

When describing the Pictet Group, three words – independent, organic, and partnership – come to mind. The Swiss pure play, whose history in Asia dates back to 1981, is owned and managed by eight managing partners. New partners are appointed every five to ten years, with the youngest ones in their early 40s, and the most experienced ones generally aged […]

The post AUM growth is only a “second priority”: Marc Pictet appeared first on Asian Private Banker.

Taurus Wealth has added a senior private banker in Singapore to further expand its client base in the city-state, Asian Private Banker has learnt. Harpreet Singh has come onboard the Singapore-based multi-family office, which manages about US$3 billion in AUM, as executive director, client investments. Singh joins from Crédit Agricole where he was most recently a senior director focused on […]

The post Singapore multi-family office snaps up Crédit Agricole private banker appeared first on Asian Private Banker.

AL Capital is stepping up its operations in Singapore with plans to become a multi-family office, in addition to opening an office in China. The Sydney-headquartered group, which also has an office in Hong Kong, is aiming to more than double its AUM A$200 million to over A$500 million in 2022. In Singapore, the firm is currently in the midst […]

The post Singapore firm to join multi-family office club appeared first on Asian Private Banker.

More family offices in Hong Kong are set to expand their allocations to ESG investments in 2022, an industry survey has found, with many having dipped their toes into these assets last year. The survey conducted by the Family Office Association Hong Kong (FOAHK) published on Tuesday showed that 85% of FO respondents are set to increase their allocations to […]

The post Hong Kong family offices set to turbocharge ESG allocations in 2022 appeared first on Asian Private Banker.

Hong Kong-based Rockpool Capital has appointed a managing director to build out its real estate investment unit in Asia, with a focus on investing in the hospitality sector. Corey Hamabata has joined the multi-family office in January 2022 from JLL where he was a senior vice-president advising investors on hospitality real estate in key markets including North Asia and Southeast […]

The post Multi-family office picks MD to tap into hospitality sector appeared first on Asian Private Banker.

Sydney-headquartered AL Capital has hired a CIO in Singapore, Asian Private Banker can reveal. Liang Weixiong joined the single family office in January from Reed Capital Partners, a Singapore-based independent asset management firm he co-founded in 2019, with a focus on equity trading. The veteran portfolio manager brings more than 15 years of experience to the new role which will […]

The post Family office hires CIO in Asia equity portfolio push appeared first on Asian Private Banker.

Singapore’s Wealth Management Institute (WMI) is doubling the scale of its family office-related programmes as part of the city-state’s latest effort to expand this part of the investment community. “In the last 12 months, there were over 500 enrolments in WMI’s family office and trusts certification programmes. We are gearing up to double our scale to reach 3,000 enrolments over […]

The post Singapore’s WMI to double capacity in city’s latest family office push appeared first on Asian Private Banker.

More foreign investors, including family offices (FOs), are considering direct investments into Hong Kong startups because they can offer a gateway to the Greater Bay Area (GBA). Foreign investors and foreign FOs have traditionally had a pretty focused market and investment target at home. “But if they wanted to get into the mainland China market, then it could become difficult […]

The post Foreign FOs zero in on Hong Kong startups to tap into the Greater Bay Area: Cyberport CEO appeared first on Asian Private Banker.

Alvarium has hired the head of private wealth from IQ-EQ to lead its family office services business in the region. Having been appointed by the US-based independent investment advisory firm and multi-family office as its managing director and head of family office services for Asia-Pacific, Peter Golovsky told Asian Private Banker that one of his priorities will be to drive […]

The post Alvarium establishes family office services presence in Asia, picks leader from IQ-EQ appeared first on Asian Private Banker.

Global financial services education specialist Inflection Point Intelligence (IPI) has launched a Family Office Education programme that is designed to meet the training needs of the private banking and wealth management industries. IPI believes that the programme can provide practical financial training for sellside people who wish to enter the industry. “We canvassed people on where they felt the need […]

The post New FO education programme targets sellside talent seeking to join FOs and WMs appeared first on Asian Private Banker.

By attracting more FOs to Hong Kong, the newly launched FamilyOfficeHK team under InvestHK wants to help fuel Hong Kong’s economy and benefit different professional pillars in the city. “We are not a profit-making organisation and our ultimate goal is to drive the GDP growth in Hong Kong,” Dixon Wong, head of Financial Services and global head of FamilyOfficeHK told […]

The post New government FO team aims to boost Hong Kong growth by attracting more overseas FOs appeared first on Asian Private Banker.

There is a clear cut line between impact investing and ESG investing, though both belong to the broader “sustainable investing” universe. For one thing, companies’ ESG rating is often not the sole determinant of impact investing strategies — the latter prioritises the “what” over the “how”. Such belief is part and parcel of the impact investing strategy of UBP, said […]

The post ESG rating does not dictate impact investing decisions: UBP appeared first on Asian Private Banker.

A growing league of ‘young’ UHNW entrepreneurs with roots in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is giving impetus to the Hong Kong government’s bid to raise the city’s profile as a family office hub. Susanna Fung, head of wealth planning at Morgan Stanley Private Wealth Management Asia in Hong Kong, told Asian Private Banker that the bank has […]

The post ‘Young’ GBA entrepreneurs drive family office interest in Hong Kong: Susanna Fung of Morgan Stanley appeared first on Asian Private Banker.

HSBC on Thursday announced it will make available investment banking services to family offices in Asia, as part of its goal to emerge as the bank of choice for managing wealth for UHNW/HNW clients. HSBC is launching a new Institutional Family Office service in Hong Kong and Singapore to allow single-family offices in the region access to its investment banking […]

The post HSBC to make investment banking services available to single FOs in Asia appeared first on Asian Private Banker.

Direct investments, particularly in technology and sustainability themes, are gaining favour with FOs since the next generation is getting more involved in decision making. Dixon Wong, head of financial services and global head of FO at InvestHK, told Asian Private Banker that FOs are growing into more sophisticated players in the startup ecosystem, because the next generation is usually keener […]

The post Next-gen at FOs keener on direct investments in startups: InvestHK appeared first on Asian Private Banker.

UBS Wealth Management is integrating its family office (FO) servicing teams in Singapore with a view to capturing a larger market share of the over 200 single-FOs in Singapore and the broader region. Effective this month, Catherine Chow and Andre Loh from the family advisory team, and Richard Behmer and Michelle Chang from Private Label Fund, will be seconded to […]

The post UBS WM expands Family Office Competence Center in Singapore appeared first on Asian Private Banker.

Hong Kong’s wealth and asset management (WAM) industry has welcomed initiatives outlined in the government’s budget 2021/22 announcement last week but is asking authorities accelerate progress on amending tax exemption rules to benefit family offices. The budget speech delivered by Financial Secretary Paul Chan last Wednesday detailed measures in three areas targeting the promotion of Hong Kong as a WAM […]

The post Wealth and asset management industry welcomes HK budget initiatives, but wants progress on FO tax exemptions appeared first on Asian Private Banker.

The Family Office Association Hong Kong (FOAHK) has integrated the Association of Independent Asset Managers Hong Kong (AIAM HK) as its subcommittee, it was announced on Thursday. FOAHK is an independent family office trade association established in November 2020 to “lead and drive dialogue between the family office industry, the government and regulatory bodies in Hong Kong”. According to a […]

The post Family Office Association HK joins up with Association of Independent Asset Managers HK appeared first on Asian Private Banker.

Maitri Asset Management of Singapore has named an industry veteran as its advisory board member. Effective from 1 January 2021, Lawrence Lua has been appointed to the advisory board of Maitri Asset Management. Lua will advise Maitri across its portfolio and operations, including providing strategic direction to the business, advising on regulatory matters, as well as enhancing the firm’s investing and […]

The post Ex-DBS PB global head appointed as Maitri AM advisory board member appeared first on Asian Private Banker.

The Monetary Authority of Singapore (MAS) shared with Asian Private Banker its aspiration to become a regional hub for philanthropy, as part of its strategy to develop the city-state into a globally connected family office (FO) ecosystem. “We are seeing wealthy individuals and families taking greater interest in using their wealth as a force for good,” Jacqueline Loh remarked on […]

The post Singapore aims to be regional philanthropic hub: MAS appeared first on Asian Private Banker.

In her 2020 Policy Address on Wednesday, the Hong Kong Chief Executive stated the government’s ambition to develop the city into a regional hub for family offices (FOs). Industry associations have reportedly received tremendous support from various government departments which, they believe, would “fuel the growth trajectory” of the industry. In the section “Consolidating Hong Kong’s Status as an International […]

The post Hong Kong government keen on helping family offices prosper appeared first on Asian Private Banker.

The Family Office Association Hong Kong (FOAHK) has announced its official establishment in a bid to promote the family office (FO) industry in Hong Kong and support the city’s growing role as the FO hub of Asia Pacific. According to a news release, FOAHK will be “fully committed” to connecting stakeholders and facilitating collaboration between FOs and other stakeholders in […]

The post Family Office Association Hong Kong officially goes live appeared first on Asian Private Banker.

Western family offices (FOs) have been increasingly keen on establishing satellite offices in Asia, with some families even terminating the home jurisdiction FO to relocate to Singapore and be closer to the fastest growing markets in the world. On Thursday, DBS PB hosted a client webinar titled The family office boom: Contrasts between East and West to discuss with regulators and industry specialists the latest […]

The post Western FOs transplant to Singapore appeared first on Asian Private Banker.

After a fairly quiet August on the private banking hiring front, bankers may expect bonus cuts as banks’ revenue thinned, but recruiters observed that the hiring momentum seems to have shifted slightly towards the family office (FO) and external asset manager (EAM) side. “Private banks’ business revenue seems mixed this year, as the large firms’ investment banking divisions are suffering […]

The post Movers & Shakers – August 2020 appeared first on Asian Private Banker.

The Institute of Banking and Finance Singapore (IBF) has partnered with the Monetary Authority of Singapore (MAS) to launch a skills map for family office (FO) advisors, in a bid to facilitate Singapore’s FO ecosystem. Developed in the past year in consultation with representatives from FOs, legal and tax advisors as well as private banks, the Family Office Advisor Skills […]

The post MAS and IBF jointly launch map, detailing skills for family offices appeared first on Asian Private Banker.

While the pandemic created a diverse impact on UHNW businesses, most family offices managed to make a profit in their investments after the market tumble in March, thanks to their well-diversified investment strategies. UBS Global Wealth Management launched the Global Family Office Report 2020 on Thursday, the first in-house UBS report on the activity of family offices. The report found […]

The post FOs saw increase in investible wealth despite market sell-off: UBS appeared first on Asian Private Banker.

Looming inter-generational wealth transfers, a rising next-gen, and the COVID-19 pandemic are combining to make Asia’s wealthy families rethink the way they approach wealth preservation. “Asia’s families and their businesses are on the cusp of one of the most significant inter-generational wealth transfers,” Peter Golovsky told Asian Private Banker. The managing director and head of private wealth for Asia at investor services provider IQ-EQ […]

The post Asian HNW families seek independent operating model to manage their wealth appeared first on Asian Private Banker.

The Australia and New Zealand Banking Group (ANZ) has appointed two senior wealth managers to the family office unit of its private bank. Hayden Matthews has been named director of family office. Most recently, he was CEO of HSBC’s private banking franchise in Australia. He also served as business head for international private wealth for HSBC in Singapore, and held […]

The post ANZ Private adds two veterans to family office unit appeared first on Asian Private Banker.

Investor services provider IQ-EQ has named Peter Golovsky as its head of private wealth, Asia, the company announced today. The senior position has been newly created in a bid to drive the firm’s global growth strategy and capture Asia’s expanding wealth pool. In his new role, Peter will be responsible for leading and driving the continued growth of IQ-EQ’s Private […]

The post IQ-EQ names head of private wealth for Asia appeared first on Asian Private Banker.

Envysion Wealth management, a multi-family office (MFO) with around $300 million in assets under advisory, has launched its office in Singapore, Bloomberg has reported. The Singapore office has been established with a view to drawing in more wealthy clients and private bankers from the region. It aspires to reach an AUM of $1.5 billion to $2 billion by the end […]

The post Envysion opens $300 million AUA MFO in Singapore appeared first on Asian Private Banker.

The Hong Kong Monetary Authority (HKMA) has been in close touch with industry participants to enhance the competitiveness of Hong Kong as a private wealth management hub. Shortly after the Securities and Futures Commission (SFC) announced regulatory guidance on the licensing needs for family offices, Edmond Lau, senior executive director at the HKMA highlighted the city’s position as the leading […]

The post HKMA advocates stronger PWM industry appeared first on Asian Private Banker.

The Securities and Futures Commission (SFC) on 7 January published two circulars to clarify licensing obligations for family offices and private equity (PE) firms operating in Hong Kong. In the circular on the licensing obligations of family offices, the regulator emphasised the “activity-based” nature of the licensing regime under the Securities and Futures Ordinance (SFO) and noted that family offices […]

The post SFC rolls out licensing guidance for family offices and PE firms appeared first on Asian Private Banker.

Raffles Family Office has teamed up with Singapore-based wealthtech iFAST Corporation to tap into China’s burgeoning onshore UHNW market. The joint venture (JV), named Raffles China Family Office, will provide family office management services to a market that the two parties deem will have legacy planning needs and demand for independent asset managers. The JV will initially open its doors […]

The post Raffles FO makes China onshore push via JV appeared first on Asian Private Banker.

Digitalising family offices’ board operations is important to overcome complex and ad hoc processes that are prevalent within these family businesses, management consulting Quinlan & Associates told Asian Private Banker. According to Benjamin Quinlan, CEO at Quinlan & Associates, dynamics of boards in family offices and family-run businesses are often conducted in an ad hoc manner, reflecting their personal relations […]

The post Digitalisation needed to “help avoid lapses” in FO governance: Quinlan & Associates appeared first on Asian Private Banker.

DBS Private Bank is capitalising on tax exemption schemes in Singapore to push for growth in their family office business, the bank’s regional head of wealth planning, family office, and insurance solutions Lee Woon Shiu told Asian Private Banker. According to Lee, schemes such as the global investor programme (GIP) — which allow foreign investors to gain permanent resident status […]

The post DBS PB capitalises on SG tax exemption schemes for FO business appeared first on Asian Private Banker.