Raffles Family Office Africa expansion is gaining momentum with the appointment of former Rwandan government official Jean de Dieu Uwihanganye as principal for emerging markets and business development. Uwihanganye will be based in Hong Kong and report to Group CEO Chi Man Kwan as the multi-family office seeks to deepen its engagement across the Africa-Asia investment corridor. He previously served as Rwanda’s minister of state for infrastructure and as the country’s high com

Singapore family office philanthropy channelled more than USD30m to overseas causes during 2024 and 2025 under a tax incentive designed to encourage regional charitable giving. The Monetary Authority of Singapore said there are currently eight approved recipients of incentives under the Philanthropy Tax Incentive Scheme, according to a written parliamentary reply from Deputy Prime Minister and Trade and Industry Minister Gan Kim Yong. Introduced in 2024, the scheme provides a

Asia family office global investment strategies are becoming more diversified as wealthy investors seek opportunities across regions and asset classes, according to private capital markets firm Ascentivelab Group. The New York-based firm is expanding its investor coverage into Asia, the UK and Europe as family office capital becomes increasingly international. A UBS survey cited by Ascentivelab found that 60% of family offices plan to change strategic asset allocations within

Hartono family overseas investments have reached at least USD1.4bn through nine Singapore- and London-based entities as Indonesia’s wealthiest family diversifies beyond its domestic holdings, Bloomberg reported. The Hartono family, estimated to be worth around USD30bn, has traditionally kept most of its wealth in Indonesia but is increasingly acquiring businesses overseas. Transactions include the purchase of a US specialty paper company for USD669m and an Austrian cigarette-

Singapore younger wealthy clients are becoming an increasingly important target for banks as millennials and Generation Z investors start investing earlier and progress more quickly into higher wealth segments. DBS said the number of millennial retail customers entering its Treasures segment, which covers clients with SGD350,000 (USD277,000) to SGD1.5m in investible assets, tripled in the first half of 2026 from a year earlier. OCBC recorded an almost 50% increase in customer

Asian wealth management growth could increasingly favour banks in Singapore and Hong Kong as household assets shift from deposits and property towards equities, bonds, funds and alternative investments, according to Morgan Stanley. The trend is expected to increase demand for private banking, investment management and advisory services as household wealth across Asia continues to expand. Morgan Stanley said Singapore should benefit from its position as a centre for family off

The UBS family office funds programme is giving wealthy Asian investors access to strategies typically reserved for institutions, with a minimum overall commitment of USD5m. The Exclusive Manager Access Fund Program will initially launch in Singapore and Hong Kong before expanding to Taiwan, targeting high-net-worth individuals, ultra-high-net-worth investors and family offices. Clients must allocate at least USD500,000 to each underlying fund. The programme will begin with s

The OCBC Lee family fortune has risen to USD13.8bn as shares in the Singapore bank nearly doubled over the past year, supported partly by expansion of its wealth-management business. The family, whose largest asset is its OCBC holding, ranked fourth among Singapore’s wealthiest and recorded the largest increase in both absolute and percentage terms. OCBC’s wealth-management business grew 11% in the first quarter and accounted for 39% of total revenue. The bank has been expand

Barclays Singapore private bank capabilities are expanding with the launch of a new booking centre aimed at family offices and ultra-high-net-worth clients across Asia. The move marks Barclays’ return to an onshore private banking booking model in Singapore, around a decade after the British lender sold its regional private banking business to OCBC. The centre combines local booking capabilities with Barclays’ international network, giving clients access to banking, lending,

Asia-Pacific family office sustainable investment exposure is increasing as more wealthy families and asset owners allocate substantial portions of portfolios to impact and environmental, social and governance strategies. A Sustainable Finance Initiative survey found that 27% of respondents allocated more than half of their assets to impact and ESG investments in 2026, up from 17% in 2025. The Hong Kong-based organisation surveyed 121 family office representatives and princip

Hong Kong billionaire hub status remains firmly established after the city retained its position as the world’s second-largest billionaire centre in 2025, according to Altrata’s Billionaire Census 2026. Hong Kong had 106 billionaires, two fewer than a year earlier, but their combined wealth continued rising to USD319bn. Property-sector weakness and relatively limited exposure to artificial intelligence-related gains weighed on the city’s billionaire population. New York remai

Hong Kong family office succession services are attracting Asian business-owning families seeking a base for governance, investment management and generational wealth transfer. Advisers say founder-led businesses increasingly want to separate operating capital from family wealth, while internationally dispersed families are looking for an Asian hub capable of supporting assets and heirs across multiple jurisdictions. Hong Kong had 3,380 single-family offices at the end of 202

Raffles Family Office CIO responsibilities will be assumed by Citi Private Bank veteran Ken Peng following his appointment as the multi-family office’s first chief investment officer. Peng will be based in Hong Kong and report to group CEO Chi Man Kwan. He will lead the firm’s investment function, shape overall investment strategy and provide stakeholders with views on macroeconomic developments, investment themes and portfolio sustainability. He brings more than 20 years of

The Lawrence Ho family office is expanding into space technology through a USD1bn de-SPAC transaction involving Singapore-based satellite communications company Astrum Space. Black Spade Capital, the family office of Macau billionaire Lawrence Ho, will merge Astrum with Black Spade Acquisition III in its third de-SPAC transaction. The combined company intends to seek a listing on the New York Stock Exchange. Founded in 2023, Astrum is developing a satellite-to-device communic

Singapore family office gold allocations can now increase without breaching tax-incentive conditions after the Monetary Authority of Singapore removed a 5% portfolio cap on precious metals from Aug. 1. The change applies to funds and family offices operating under the Section 13O and 13U tax-exemption schemes, giving qualifying investors greater flexibility to hold physical gold as a geopolitical and portfolio hedge. Raffles Family Office said its baseline allocation remains

Family office relocation is being considered by more than half of wealthy families surveyed as geopolitical risk, cybersecurity concerns and access to specialist talent drive demand for multi-jurisdiction structures. Standard Chartered's The Great Repositioning report found that more than 54% of respondents were weighing a move. Foo Tian Ong, Southeast Asia regional head at Standard Chartered Global Private Bank, said Singapore remains attractive because of regulatory and tax

Asia family office sustainable investment allocations are rising, with more family offices committing substantial portions of their portfolios to impact and environmental, social and governance strategies. A Sustainable Finance Initiative survey of 121 family office representatives and principal asset owners found that 27% allocated more than half of their portfolios to sustainable investments in 2026, up from 17% a year earlier. Overall, 58% invested more than 10% of portfol

Singapore family office legal services are expanding with the launch of The Little Law Corporation, a boutique firm targeting founders, family offices, private equity managers and multinational companies involved in cross-border transactions across Asia. Founder and managing director Shen Xiaoyin has more than 14 years of experience spanning commercial litigation, international arbitration, mergers and acquisitions and investment advisory work. Her previous roles include Alle

The responsAbility Asia Climate Fund has closed at USD461m with backing from family offices, institutional investors, foundations and development finance institutions. The private credit vehicle targets companies operating in renewable energy, electric mobility, energy efficiency, circular economy and infrastructure across South and Southeast Asia. Its blended-finance structure uses concessional public-sector capital to mobilise commercial investment, with private commitments

The Asia wealthy insurance market could generate USD100bn to USD140bn in annual new-business premiums by 2030 as family offices and private banks expand insurance-based wealth planning, according to McKinsey & Company. Only around 15% to 20% of Asia’s wealthy individuals currently incorporate life insurance into their financial plans, leaving a substantial portion of the market underserved. Asia-Pacific personal financial assets are forecast to reach USD120tr by 2030, while a