Golden Equator Group has refreshed its business structure, putting a renewed focus on building linkages between the older and younger generations of wealth owners.

It aims to grow its assets under management (AUM) to US$1 billion over the next couple of years, from the current “integrated” asset size of US$600 million, which includes wealth assets and private capital funds.

Golden Equator Group has two main business pillars – capital and community. Most of the AUM sits in the capital segment, comprising the multi-family-office (MFO) service under Golden Equator Wealth, and private capital funds under Golden Equator Capital.

To beef up the MFO business, the firm roped in two finance veterans last year. Formerly with Credit Suisse, Rai Rummaan Kharal joined as a managing partner of wealth and capital, and Haroon Tufail as an executive director. They are part of a plan to grow the team of family office advisers.

Says Golden Equator founder and Group CEO Shirley Crystal Chua: “With more senior family office advisers on board, they bring strong in-market and regional experience, and, where it makes sense, they will explore the possibility of establishing our presence in other markets.”

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Golden Equator Wealth (GEW) is aiming to grow its assets under management (AUM) by another $1 billion, according to founder Shirley Crystal Chua in a conversation with finews.asia. 

The multi-family office (MFO) specified no timeline for achieving this goal but noted that growth would be driven by its home market in Singapore as well as a planned 2024 entry into a second market: Dubai.

Read the full interview in the link here.

Wealth management industry players said the recent probe into a money laundering ring should be viewed in a positive light, and should enhance Singapore’s position as a hub for the region’s richest.

Authorities in August conducted several simultaneous raids and seized the assets of 10 individuals, who have been charged for alleged forgery, money laundering and/or resisting lawful apprehension. The value of the assets seized has since grown to S$2.4 billion, making this the largest anti-money laundering operation in Singapore’s history.

Some players flagged a risk that the crackdown would spur the implementation of measures that are even more stringent.

Such moves could put off clients who prioritise both security and efficiency in transactions, said Shirley Crystal Chua, founder and group chief executive of multi-family office Golden Equator Wealth. "Overly stringent measures may slow down the opening of accounts and result in additional barriers to overseas funds", she added.

Read the full article here.

Vishal Nanwani, Senior Portfolio Manager of multi-family office Golden Equator Wealth (GEW), recently spoke to The Business Times on banks’ AT1 bonds also known as Contingent Convertibles (CoCos), on the back of the Credit Suisse takeover.

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