Family offices across Asia are reshaping global wealth management practices as entrepreneurs and multigenerational families seek more sophisticated solutions for succession, governance and alternative investments, according to BNP Paribas Wealth Management.
BNP Paribas, which operates regional hubs in Hong Kong and Singapore, is positioning its “One Bank” model to capture the region’s expanding wealth base. The bank says it is seeing rising demand from both first-generation entrepreneurs in China, who are focused on diversification and business continuity, and more established families in Hong Kong and Singapore seeking global portfolios and complex succession planning.
“Asian families are not only writing a playbook rooted in tradition, they’re firmly establishing themselves as future global leaders in wealth stewardship,” said Lemuel Lee, head of wealth management for Hong Kong.
According to the 2024 Asia-Pacific Family Office Report, published with Campden Wealth, Asian family offices now lead globally in structured succession planning, blending cultural heritage with international best practices. Direct private investments in sectors such as artificial intelligence, healthcare and renewable energy are gaining ground as families diversify beyond public markets.
BNP Paribas has bolstered its capabilities with the acquisition of AXA Investment Managers, bringing total assets under management to €1.5 trillion (US$1.76 trillion). “The benefits include unparalleled access to private market opportunities, deep sector expertise, and innovative solutions that reinforce our commitment to supporting Asia’s entrepreneurial families,” Lee said.
Arnaud Tellier, Asia Pacific CEO at BNP Paribas Wealth Management, said the bank’s dual hubs offer clients flexibility across Greater China and Southeast Asia. “Each hub offers distinct strengths, but together they provide seamless access to the region’s most important financial centres,” he said.
With a growing client base spanning three generations, BNP Paribas is extending its services beyond investment advice to include inheritance design, corporate governance support and education for heirs. “We see Asian family offices not merely as clients but as strategic partners in shaping a more connected, resilient, forward-looking wealth ecosystem,” Lee said.
FamilyOfficeNewsAsia.com
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