Private banks eye new breed of family office

Amid rising wealth creation, private banks are looking to service family offices such as Joseph Tsai's but face disintermediation from them as well.

Family offices that provide tailored advice to super-rich families are on the rise in Asia. A recent high-profile example is Alibaba executive vice chairman Joseph Tsai's Blue Pool Capital, which manages the wealth of his family and other Alibaba founders.

According to a source familiar with the matter, Tsai's vision is to build a professionally-run investment programme for a few select families and their charitable activities. The Hong Kong-based family office is co-managed by Alexander West and Oliver Weisberg, a former Citadel managing director.

Setting up a family office has certain advantages, such as increased confidentiality and a more personalised approach to managing funds. Consultants and...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222