Singapore continues to realize its ambition as a wealth hub with over half of Asia’s family offices based in the city-state, according to a report co-authored by KPMG.
Singapore is home to 59 percent of the family offices located in Asia, according to a report by KPMG Private Enterprise and family office consultancy Agreus.
There are around 20,000 family offices globally, of which 9 percent are based in Asia.
Higher Salary
Relative to other regions, Asia boasts higher salaries for chief executive officers at family offices, earning between S$158,001 ($117,000) and S$500,000.
Salaries for family office CEOs in the Americas range between $198,001 and $264,000 while those in Europe range between 198,001 euros ($146,000) to 264,000 euros.
Of the Asia family offices covered in the report, 24 percent have between S$500 million and S$1 billion in assets under management (AUM). Those with AUM of S$1.1 billion to S$2 billion, S$251 million to S$500 million, and less than S$250 million account for 20 percent each.
