Asia’s family offices will be ready to seize post-Covid-19 opportunities if they make the most of this break from normality to reinvigorate key systems and structures.
Families come in all shapes and sizes and it follows that there is no one size fits all approach when it comes to establishing an effective governance framework for a single family office (being a private organisation that manages the investments for a single wealthy family) or a multi-family office (being a private organisation which looks after the investments of multiple families).
The coronavirus pandemic has created unprecedented challenges for the global economy and businesses have been compelled to cope with challenges that a mere few months ago were simply unimaginable. Asset and Wealth Management firms are no exception to this economic anomaly. So how is this industry, that excels at problem solving, coping now that it is no longer ‘business as usual’ and as it faces ‘once in a generation’ economic challenges?
First financial steps have been made to cement the planned succession process of Torben Østergaard-Nielsen’s global shipping group United Shipping & Trading Company (USTC), based in Middelfart, Denmark.
Most impact investors recently surveyed by the Global Impact Investing Network (GIIN) expect to maintain or boost their commitment to impact investments this year in response to the coronavirus pandemic, and most plan to stick to strategies focused on addressing the U.N.’s sustainable development goals.
Pictet Family Fund, giving an opportunity to invest into family businesses, will fill what it argues is a gap in the market.
As Covid-19 selloff in March led to losses in equity portfolios, spooked investors started pulling out of debt mutual funds, causing a liquidity crunch for some short-term schemes and plans that invest in higher-yield but lower-rated paper.
BANK of Singapore (BOS), the private banking arm of lender Oversea-Chinese Banking Corporation, plans to grab a bigger share of the fast-growing family office business by expanding its investment products and targeting clients outside the region, its chief executive officer said.
A round-up of people moves and M&A deals across North America
Service providers to some of Asia’s wealthiest families say they are fielding a rising number of calls about shifting away from Hong Kong, with some already moving money to Singapore-based banks.
