WEALTH TALK SUMMARY - A digital revolution for Asian family offices?
Speaking at Hubbis’ Digital Wealth event in Singapore in June – Shirley Crystal Chua of Golden Equator Capital believes there is a promised land of new investment opportunities for family offices who embrace a digital future.
The fact that global giants such as Facebook, Amazon, Microsoft, Alphabet (representing Google) and Apple are now the five biggest companies in the world, proves that technology is here to stay – and will play a very important part within the development of the wealth management industry over the next five years.
This, according to Shirley Crystal Chua, founder and chief executive officer of Golden Equator Capital, goes hand-in-hand with her belief that wealth is now being created in a shorter time period.
For example, she explains, many families no longer look at only how to make the best individual investment, or at what investment gives the best return. Instead, she sees families looking at more diverse areas, with an appetite for optimisation of information, impacting on their current businesses and the next generation.
Topics such as the operation of bank accounts across different jurisdictions and consolidation across multiple bank accounts are common questions, she adds.
One of the other challenges that Chua and her team now face is finding products that are the right ‘fit’ for their family office clients and others. Golden Equator Capital has a number of business vehicles that span across multi-family offices in addition to a technology and innovation arm that looks into emerging technology and innovation companies in the sector.
Chua says her people review close to 1,000 deals each year, with technology being a strong focus.