News

Singapore PE firm and Swiss wealth manager launch family office

Singapore, PE firm, Swiss wealth manager, family office, private equity, Tembusu Partners, teamed up, Swiss, wealth manager, Reuss Private, officeSingapore-based private equity firm Tembusu Partners has teamed up with Swiss wealth manager Reuss Private to launch a multi-family office in Singapore. Tembusu Wealth Management will be headed by managing partner Jonathan Ng, a veteran of the wealth management market. Ngho was previously in charge of Pictet Private Wealth’s Southeast Asia wealth management arm. The launch comes at a prosperous time for Singapore’s wealth management market, which rose by US$350 billion between 2017 and 2021, according to data from the Monetary Authority of Singapore. It is also becoming a more competitive market. The number of family offices launched in Singapore has risen sevenfold since 2017 and 2021 to almost 700, which is double the number in 2020.   ©2023 funds global asia

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