UBS’ Post

Some of you may know that before I was more involved in #healthcare and started my own consultancy firms as an #entrepreneur, I spent more than 13 years as in #investmentbanking. Days when it was thought to be glamourous, pay was good but work hours insane. I covered mainly M&A and #IPO deal execution for Southeast Asia and apart from healthcare, I was also involved in numerous deals in #realestate, #retail, #industrial and others. One of the greatest banks I worked in and for the longest period was ABN AMRO (which was then acquired by RBS and we all know what happened next in 2012). It was great mainly because of the people in the teams I worked with in Singapore and Hong Kong. Recently some of us managed to catch up over dinner and drinks in Singapore with Nicholas Chua travelling in from Hong Kong and through the region. Great to catch up with Nick, Francis Ansvananda , Nellie Manktelow. Great reminiscing about the good old ABN days. We were all about Director level back then and time really flies and our analysts and interns who are still in banking are now Managing Directors! Great to laugh over our parenting antics ("When I was your age...") as we are all parents now. I think the greatest thing about any job is the people and team we work with. 😄 We need to do this again and with more of us. #investmentbanking #friends

🏦 Hong Kong is quickly becoming the go-to hub for family offices in Asia, with Citigroup noting a pivotal trend: 📈 50% of Asia-Pacific family offices they serve are on the brink of a major succession event within five years. 🌱 These offices are seeking expert guidance on succession and wealth planning, more so than their older counterparts in the West. 🎯 Citigroup is strategically focusing on wealth management in Hong Kong, alongside Singapore, UAE, and London, to cater to the affluent Asian market. This spotlight on Hong Kong comes as no surprise. With favorable tax policies and an abundance of professional talent, the city is not just an investment center but a full-service hub for high-net-worth families looking to navigate the complexities of wealth transfer and investment diversification. Check out the full article by South China Morning Post SCMP here: https://lnkd.in/dgt9EP9E #HongKong #WealthManagement #FamilyOffice #FinanceTrends

🏦 Hong Kong is quickly becoming the go-to hub for family offices in Asia, with Citigroup noting a pivotal trend: 📈 50% of Asia-Pacific family offices they serve are on the brink of a major succession event within five years. 🌱 These offices are seeking expert guidance on succession and wealth planning, more so than their older counterparts in the West. 🎯 Citigroup is strategically focusing on wealth management in Hong Kong, alongside Singapore, UAE, and London, to cater to the affluent Asian market. This spotlight on Hong Kong comes as no surprise. With favorable tax policies and an abundance of professional talent, the city is not just an investment center but a full-service hub for high-net-worth families looking to navigate the complexities of wealth transfer and investment diversification. Check out the full article by South China Morning Post SCMP here: https://lnkd.in/d8yy8nka #HongKong #WealthManagement #FamilyOffice #FinanceTrends #ventures

Bain & Company and #InvestHK collaborated on an exclusive event for leaders in wealth management, banking, and insurance. Our partners, Phil Leung and Herbert Lee, shared emerging trends in wealth management and the latest insights on the Chinese Private Wealth landscape. We are witnessing a trend where the average age of Chinese high net worth individuals is decreasing, with nearly half of them being under 40 years old. These HNWIs have key needs such as wealth protection, wealth creation and children's education. Additionally, the importance of lifestyle experiences and corporate social responsibility is also growing. Hong Kong remains the most preferred overseas investment destination, followed by Singapore and the US. Read more about our trends in wealth management.

According to Preqin, Singapore ranks fourth in the share of family office with the US leading followed by Germany and Switzerland. Monetary Authority of Singapore estimated that we had about 1,100 family offices at the end of 2022, up from a mere 200 in 2020. Our acceleration is laudable however, we must also be able to handpick from a select group of professionals, those who are highly competent in wealth management and emotionally intelligent to handle the complexities of private families. "Being great at a finance job doesn’t always translate well to this line of work. Three family office principals gave Bloomberg rather unconventional criteria when asked for their ideal hires..." '“The soft skills are more important than the hard or technical skills because the latter can be imported or outsourced,” said Manish Tibrewal, who helped run the Tolaram Group’s family office before launching Farro Capital, a multi-family office in Singapore.' #philanthropy #familyoffice #UHNW #wealthmanagement

News on Foreign Companies and Family Offices (Investment Objective) ------------------------------------------------------------------------------- For the last few months, Singapore has been tighter when comes to accepting new applications for Foreign companies and family offices as tighter scrutiny, but this does not stop for Foreign Fund flowing into Singapore. Throughout the journey of Singapore's independence, Singapore has been built for a stable political status, safety of funds and business flexibility which made Singapore the top "Business Hub" for Asia. As we can see due to the inflow of new businesses and family offices, there is more employment arising from the influx of business roles to set up in different business sectors mostly related to Real Estate, Financial Services and Investment Management. It is important to set up a proper business with trustworthy partners. Thus, I am building a community to host and provide help to support the setup of these businesses. You are welcome to DM me to discuss further details on how we can get you started. ------------------------------------------------------------------ Networking Group for C Suites, Family Offices, New Businesses and Funds Managers https://lnkd.in/gMhKJFfQ (Subjected to review for non-related role) ------------------------------------------------------------------ Networking Group for Individual Trader or Proprietary Trader https://lnkd.in/gKVDKRUz (Subjected to review for non-related role) ------------------------------------------------------------------ Telegram Group https://lnkd.in/g-dMmFnC (Subjected to review for non-related role) ------------------------------------------------------------------ #cryptocurrency #stockindices  #futuresoptions #spotfx #personalinvestment #vietnamstockindex #commoditiestrading #proprietarytrading #equitiestrading #assetmanagement #tradercommunity #quantitativetrader  #portfoliomanagement #familyoffice #csuites #newceo #newcoo #newcio #cfd  #futures  #business  #hedgefund  #newbusinessowner #portfoliomanager #investmenttrends #investmentview #phillipnova #tradingsolution #tradingcommunity #phillipcapital #networking #businessoverrum #wealthmanagementservices      #businesssynergy #coworkingspace

A colleague once told me on her experience in Hong Kong and told me "Give Singapore a few years, it will indeed be a financial hub of Asia in years to come and catch up with Hong Kong's standard and surpass it" I completely agree with this. Here are my reasons 1. Political Stability - Singapore is known to be a politically stable environment. it does not have influence of wars/tensions, it focuses on investments. With the ongoing commotion within the China Region, most family offices are moving their head quarters to Singapore. 2. Globally Competitive Economy - Singapore is ranked no 3 globally and number 1 in Asia-Pacific under IMD's World Competitiveness Ranking 2022 3. Regulations - Singapore's legal system protects investors and encourages entrepreneurship by letting foreigners buy 100% of a company without capital gains tax. Surely there is more pull factors to drive investors to Singapore, we shall see in the near future on the outcome of it. #bankingandfinance #singaporebusiness #financeandeconomy Citations: Butcher, S. (2023, August 16). “senior bankers in Asia should be based in Singapore, not Hong Kong.” eFinancialCareers. https://lnkd.in/gNAGMUgi Singapore, M. of A. (n.d.). Why Singapore. https://lnkd.in/g24aFDhu Theaud, B. (2023, July 3). Hong Kong vs Singapore for business. Statrys. https://lnkd.in/gWXEU4b5. 

I’ve got two seemingly contradictory suggestions on how we in Singapore can think about the UBS Global Wealth Report 2024. 👨👩👧👦For everyday individuals and families, may I gently suggest not to focus on inequality. Comparison is the thief of joy. There are things within your power to uplift your wealth. 🕴️ But for anyone in the following roles – policymakers, financial services, philanthropists, employers and union/association leaders - I recommend the opposite. Which is to be quite bothered. Especially about how Singapore had, almost uniquely, had its median household stagnate in wealth over the last 15 years, while average wealth was up 116%. This means that the rise in overall wealth has mainly benefitted the upper segments. 🌹𝐓𝐡𝐞 𝐆𝐨𝐨𝐝 𝐚𝐧𝐝 𝐓𝐡𝐞 𝐍𝐨𝐭 𝐒𝐨 𝐆𝐨𝐨𝐝 🥀 The good news: the stagnation in median wealth is 𝐧𝐨𝐭 due to a stagnation in median incomes. In 2008-2023, median monthly household income from employment increased 69.9%. (Singstat data) From aggregate household balance sheet data (also from Singstat, computed on a different basis from UBS'), we see that total net worth increase in this period was 207.3%. This 2x increase in net worth was driven mainly by property (contributing, net of mortgages, to 37.8% of the increase). This is followed by contributions from growth in #CPF balances (22.2% contribution), cash (21%) and shares/securities (11.1%). Except possibly for CPF, these other asset classes tend to be of the high affluent. The liabilities side is also instructive. Credit card and other personal loans have gone up by more than 100%. The impact on aggregate net worth is small, but if these are among the lower segments, their impact on median/below median individual net worth would be large. 💪 𝐄𝐦𝐩𝐨𝐰𝐞𝐫𝐢𝐧𝐠 𝐨𝐮𝐫𝐬𝐞𝐥𝐯𝐞𝐬 𝐚𝐧𝐝 𝐞𝐦𝐩𝐨𝐰𝐞𝐫𝐢𝐧𝐠 𝐨𝐭𝐡𝐞𝐫𝐬 ✨ From this larger picture, we see that the mindset required for individuals and organisational leaders may be different, but the calls to action land at a similar place: ⭐Can we seek to increase our #financialliteracy individually? Would philanthropists, employers and unions/associations support #finlit efforts at the workplace for all staff? ⭐Could we help ourselves and others save regularly, to transform the increase in income to increase first into savings, and then grow those savings by learning how to invest well, to get rich slowly but surely? ⭐ Could we reduce debt, and support efforts to educate our staff/members and the public on cashflow management? ⭐ Would individuals be more discerning, while policymakers and advisers stand against conflict of interest in the last mile of product recommendations for the everyday person? 🌻Because for Singapore to continue to thrive, everyone must be able to thrive. ❤️ [Credit to Daphne Lye, MoneyOwl's Solutions Lead, for the Singstat data. Link to report: https://lnkd.in/gAb6gYkw]

Despite European and North American investment in APAC falling significantly in 2023, intra-regional transactions have gone up. Contact the Savills Consultancy Services http://savi.li/6042YZtQQ team and find out why Japanese, Hong Kong and Singapore investors remain bullish on APAC investment, and what opportunities might be right for you. #realestateinvestment #realestateinvestors #SavillsConsultancy

Between 2020 and 2022, the number of family offices in Singapore alone almost trebled from 400 to 1100. This trend mirrors the growing need of wealthy individuals and families seeking a more holistic approach towards wealth management and an increased focus on legacy and well-being. Click: https://okt.to/dYQ2wJ https://okt.to/h64Y9Z https://okt.to/6aCgAB