The investment firm, focusing on UHNW clients, has opened a Singapore office and hired a former Indosuez banker to head it.

Carret Private confirmed that it has opened a new office in Singapore, to be led by former Indosuez Wealth Management banker Eugene Huang.

The multi-family office has already applied for a capital markets licence in Singapore.

At Indosuez Huang looked after North Asian clients and had previously worked at Merrill Lynch, Barclays and Nomura. He started at Indosuez in June 2017.

Carret is an affiliate of Carret Asset Management, a firm that traces its origins to American investment figure Philip Carret, who started out in the late 1920s. Carret Private Capital is described on its website as "a Hong Kong-based independent asset manager that focuses on holistic solutions for ultra-high net worth families".