Operating out of Asia’s two wealth hubs of Singapore and Hong Kong, a new «Asian centric» Family Office has been launched. The board of directors includes a non-resident Ambassador to Switzerland and a former wealth management head.
Fusang Family Office, a privately-owned and family-run organisation, will operate out of Singapore and Hong Kong, offering local, regional and global services. These services include creating single family offices in order to support the unique needs of different individual families, as well as providing all solutions, structures, governance and platforms that are required.
Fusang’s Board of Directors includes; Marcel Kreis, CEO of Branded Trust Assurance Systems, and a former Managing Director and Head of Private Banking at Credit Suisse; Tan Sri Tee Tua Ba, former Singapore Commissioner of Police, non-resident ambassador to Switzerland, and Chairman of the Singapore Red Cross Society.
The Chairman David Chong is the founder and President of Portcullis Group and Managing Director of David Chong Law Corporation, Singapore and is credited with shaping family-office services for ultra-high net worth individuals and families in Asia.
Wealth Preservation Overlooked
The Fusang team consists of family office principals, members and managers, all of whom have long- standing and in-depth experience of working with family offices. Lee Pang Tye and Samir Rajpal possess decades of experience from large Southeast Asian family conglomerates where they have been advising on portfolio construction, risk management and investment structures. Pooja Gurbani oversees a portfolio of investments for her family and serves as an Advisor to Mesitis. Tye, Rajpal and Gurbani are Managing Directors of Fusang.
«We believe the wealth that is earned today should also be taken care of for the generations to come. Investment and growing wealth is important, but wealth preservation is too often overlooked in Asia. We are here to change that,» said Henry Chong, Chief Executive Officer of Fusang.
A Trillion Dollars
An estimated trillion dollars are expected to pass down through generations over the next few decades, however, 88 percent of Asian families are said to be unprepared for this wealth transition. To prepare them properly, Fusang intends to deliver a comprehensive approach to family wealth, expanding the conventional investment - focused model found in Asia, and providing a protective legacy-planning model that builds, preserves and enhances legacies for future generations.
