Reuss Private jointly launching multi-family office in Singapore
07 July 2023 11:24
The Zurich-based wealth management firm Reuss Private and the private equity firm Tembusu Partners from Singapore are jointly launching a multi-family office (MFO). Tembusu Wealth Management, as the new organization is known, is based in Singapore and will offer a new comprehensive solution for managing family wealth. It will be headed up by Jonathan Ng, who, according to a press release issued by Reuss Private, boasts more than 25 years of experience at renowned financial institutions.
The partners are currently seeing significant inflows of private wealth in Singapore. In this context, they refer to statistics from the Monetary Authority of Singapore (MAS), among other aspects. According to this, Assets under Management (AuM) held by family offices, clients of external wealth managers, private trusts and high net worth individuals increased by 470 billion US dollars between 2017 and 2021.
“The financial landscape is constantly evolving, this new partnership platform unites the best ideas and expertise to create a tailored solution for each unique client, ensuring financial harmony and a legacy that lasts”, comments Jonathan Ng in the press release. ce/ssp