The concept of a modern Family Office existing to protect and serve the interests of a single family has been popular in Europe and the US for decades. It has become a popular reference term in Asia only in recent years with the proliferation of Asian wealth. Although the term is widely used, few outside the industry truly understand the concept. This masterclass will address questions such as:
- What really constitutes a “Family Office”? Why set one up and what factors should a family consider? What is the overlap between a Family Office and a Family Business?
- Is wealth the only factor to consider in choosing to establish a Family Office? Is the family truly committed to the concept, including the sharing of controls, governance and investment decision processes that come with it? What are the cost implications?
- Are all family offices the same? What makes one different from the next? What typically makes Asian Family Offices different than those of the West and how does this affect how they are managed?
- What determines whether a Family Office will succeed? Whether it is “successful”? Why Private Banks simply cannot be “your Family Office”
- What types of people do Family Offices hire?
This Masterclass will remove the ambiguity surrounding what truly constitutes a Family Office, explain the rationale for creating a Single-Family Office and the elements that are essential to ensure its proper structure and long-term success.
This session is delivered by David Chong who is the Founder & President of the Portcullis Group. He is also the Executive Chairman of Fusang Exchange, the first fully-licensed securities exchange in Asia focused on digital assets.
Portcullis Investment Office Ltd holds Type 4 (Adviser on Securities) & Type 9 (Fund Management) licences issued by the Securities & Futures Commission of Hong Kong; and Portcullis Investment Office Pte Ltd holds a Capital Markets Services Licence for Accredited & Institutional Investors issued by the Monetary Authority of Singapore. The Portcullis Group also owns Baxian Private & Investment Bank Ltd, which is regulated by the Labuan Financial Services Authority.
David is a qualified lawyer in the UK; Singapore; Malaya; Brunei; British Virgin Islands; NSW, Queensland & Victoria, Australia.
David is the former President of the Singapore Trustees Association. He served as the Founding President of STEP Singapore Branch; and was the Founding President of the Singapore Fund Administrators Association.