FB Wealth
With more ultra-high-net-worth families deciding to set up an Asian office, the choice of where to make a base is a vitally important one. Hong Kong has long since been a vibrant financial and cultural hub and is increasingly enticing UHNW individuals and families to set up in the city.
With Elon Musk making headlines for the ongoing acquisition of Twitter, his single family office and the man who handles his private finances have been thrust into the limelight. Jared Birchall is in a position of great trust but, asks Paul Westall, how much does the man who works for the world’s richest man make?...
No one is better equipped to take the reins of transformational leadership than family businesses, says KPMG partner Tom McGinness.
With a family line that dates to the year 1000, Octavian Pilati learnt from an early age the weight and importance of legacy. But when a crisis saw him taking over the family business at the age of 26 and subsequently shepherding a successful exit, he saw an opportunity to break out on his own and advise others of the pitfalls of fractured family dynamics and unclear succession planning.
As a well‐recognised premier international financial and wealth management centre with the second largest number of ultra-high-net-worth individuals in the world, Hong Kong offers many unique advantages for family offices to operate and grow, explains Christine Ho, deputy global head of FamilyOfficeHK at Invest Hong Kong.
In this week’s FB Roundup, US president Joe Biden proposes a billionaire income tax; the preferred bid for new Chelsea FC ownership is to be presented by April 18; and BNY Mellon appoints a new head for global family office.
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