The Monaco-based business, its founder has said, is designed to appeal to ultra-high net worth individuals looking for solutions, such as forms of collateralised credit, a service not always on offer from their existing banks, particularly in cases where lenders are squeezing balance sheets to protect capital.

Wealth management boutique Azura, which concentrates on ultra-high net worth clients, has opened an office in Singapore. 

Trevor Lau is heading up a team of six wealth management professionals and solution providers. Prior to this role, Lau was a managing director for UBS in Singapore. Before working at UBS, he spent 14 years at Credit Suisse, covering Singapore and Malaysia markets. 

Azura received a new licence from the Monetary Authority of Singapore this week, Ali Jamal, founder of the firm, told this news service on Friday. (We interviewed Jamal in 2019 about the business and its strategy.) 

Jamal wants to expand the Azura team in Singapore. The Asia city-state is the Monaco-based firm’s first Asia office. It also has an office in London.

Azura plans to grow its $2.7 billion in assets under management and advisory to $5 billion in the next three years, with Asia accounting for half of the business.

A report said the Singapore office chief compliance officer Willie Ong joined from Thirdrock Capital.

The business, Jamal has said, is designed to appeal to ultra-high net worth individuals looking for solutions, such as forms of collateralised credit, a service not always on offer from their existing banks, particularly in cases where lenders are squeezing balance sheets to protect capital.