Family Office

Latest News for Family Office

• July 25, 2010 - Second Generation Management Uncommon With Malaysian Family Businesses
  

  Malaysians are less likely than the Chinese to pass on family businesses to second generation members, according to an entrepreneurship expert from University Brunei Darussalam, the Borneo Bulletin reports. In a speech at a recent seminar entitled Leading & Managing Family-Owned Enterprises, Dr Habrizah Hussin, a expert in entrepreneurship and SME development, said that cultural and business values between the Chinese and Malay communities play a key role in the lifespan of family businesses.

• July 15, 2010 - Westpac Opens Up To Sports Stars And Celebrities
  

  Westpac is hoping to reach out to a greater number of potential clients in the sports and entertainment industries with the appointment of Grant Hackett to head its new wealth management team. The Olympic gold medalist for swimming was brought in after the bank set up a dedicated division towards banking cashed-up sports stars under its retail unit.

• July 15, 2010 - Ex-StanChart Executive Joins Barclays Wealth India
  

  Barclays Wealth, the wealth management arm of Barclays PLC, has appointed Rahul Ahuja director in India. Ahuja steps in from Standard Chartered Bank, where he was team leader for North India for the middle market segment.

• July 11, 2010 - DBS Bank Eyes Chinese Corporates, HNWIs, To Grow Business
  

  Singapore's DBS Bank says it is looking forward to expanding its Asian franchise by partnering with China-based firms trying to grow their businesses. The increased global interest in Chinese companies seeking access to international markets creates an opportunity for DBS to further strengthen its operations, the company said in a statement.

• March 30, 2010 - SocGen Names MD, Head of ASEAN in Singapore
  

  Societe Generale Private Banking has named Benedikt PA Maissen as managing director and head of ASEAN region. Maissen has over 26 years of experience in private banking, including 22 years with major European private banks in Asia and was most recently the head of the Southeast Asia, Europe and Japan desks at .

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Latest Features for Family Office

• January 31, 2010 - Australia's Pension Industry Is Driving Self-Managed Family Offices
  

  Australians, perhaps more than most other nationalities, are into do-it-yourself activities. In wealth management, that has manifested itself firstly in the move for self-managed superannuation (or pension) funds, and now in a growing interest in what are – effectively – self-managed family offices. It is well documented that Australia has the world’s fourth largest funds management industry, with A$1.

• November 1, 2002 - Deutsche Bank Australia shrinks headcount to grow profits
  

  Deutsche Bank Australia has almost halved its private banking headcount and refocused on ultra high net-worth clients, in response to an increasingly crowded domestic marketplace. Deutsche's private banking team will shrink from 28 to 15, as the bank concentrates on a smaller number of more profitable, high-end clients. Ralph Morton, Deutsche Bank Australia's head of private wealth management, told Private Client Management the move was in line with the bank's global migration towards a 'private wealth management' business model.

• November 7, 2002 - Taxing times for Australia's ultra wealthy
  

  Twenty-four of Australia's richest individuals were slugged an extra A$918m in taxes last financial year — an average of $38m each — following a crackdown on tax avoidance among ultra-high net-worth individuals. Tax commissioner Michael Carmody, launching his annual report for 2001-02, said the sum included $451m in penalties for fraud and evasion. He said the Australian Tax Office was focusing on the use of offshore tax havens to hide income, as well as capital gains tax avoidance and intellectual property arrangements.

• November 5, 2002 - Australian hedge funds surge as investors chase performance
  

  Investment in Australian hedge funds has doubled over the past year amid volatile equities markets, though perhaps more due to their popularity among retail investors than the traditional high net-worth individuals. According to new figures from Rainmaker Information, the financial services analysts, investment in Australian hedge funds surged from $540m in September 2001 to $1. 1bn this year.

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