Latest news with #investmentdiversification
Yahoo
2 days ago
- Business
- Yahoo
Goldman Sachs looking to bolster private wealth management team in Australia
Goldman Sachs Group is planning to expand its private wealth management team in Australia, reported Bloomberg. The expansion aims to serve self-made multimillionaires and families seeking to diversify their investments on a global scale. Currently, Goldman Sachs has a team of approximately 13 individuals, including eight advisers, operating out of Sydney and Melbourne, the report said. This team is focused on providing services to ultra-wealthy clients, each with investable assets of at least A$100m ($65m). In an interview, Goldman private wealth management head for Southeast Asia and Australia Jean-Paul Churchouse said: 'We are absolutely looking to grow. 'We are looking to hire, but it's really about finding the right people rather than hitting a target.' Goldman Sachs' private wealth division was established four years ago and was the sole new private wealth team in the Asia-Pacific region at that time. The bank has expressed that this initiative is in its initial phase, with further growth anticipated. Goldman Sachs is offering Australian investors a gateway to the firm's global network of investment bankers and exclusive access to private deals. Churchouse stated: 'We've seen huge growth in family offices. Once families generate meaningful wealth, they're looking for professionals to manage that for them. 'They are very aware that they need to be thinking about investing from a global perspective, not just in Australia, and we really cater to that need.' Goldman Sachs' offerings for this segment include the management of complex family office portfolios, facilitating entry into specialist asset classes like private equity, and providing expert connections. The wall street bank also hosts client events, such as conferences and seminars, covering topics from philanthropy to climate change. He further added: 'Ultra-high-net-worth businesses take a really long time to grow because developing the relationships take so long. But we are very confident the business is going to continue to grow meaningfully and we will invest in it.' In terms of client servicing, the bank expects to align the number of clients per adviser with its international standard, which typically ranges between 20 and 25 clients per adviser. Recently, a Bloomberg report disclosed that Erich Bluhm is departing from Goldman Sachs Group, concluding a three-decade career in the financial sector. Bluhm, who has played a significant role in the bank's equity capital markets coverage for financial institutions in the Americas, is leaving due to personal reasons and does not intend to pursue another role in banking. "Goldman Sachs looking to bolster private wealth management team in Australia " was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Independent Singapore
20-06-2025
- Business
- Independent Singapore
Singapore family offices pivot investment amid global volatility
SINGAPORE: Family offices (FOs) worldwide, including those based in Singapore, are set to diversify their investment portfolios. This is according to the 2025 Global Family Office Survey by US multinational investment firm BlackRock, which responds to rising tariff tensions and a potential US economic slowdown. This will drive further investment in non-US developed market stocks. The survey, which included FOs that oversee Singapore's estimated S$5.4 trillion in assets under management (AUM), indicates a clear shift away from traditional US-focused investments. The spectre of US tariffs on the horizon, plus indications of a possible economic downturn, have led 62% of FOs to focus their attention on European and Japanese equities and away from the traditional focus on US equities, bonds, and cash assets. They are seen as a strong hedge, due to generating stable returns amid uncertainties and US market volatility. The move by FOs worldwide comes amid growth in Singapore's FO sector. The city-state saw over 2,000 single-family offices (SFOs) operating there at end-2024, up from 400 SFOs in 2020. Singapore's central bank is promoting a diversification push. Incentives like the Section 13O and 13U tax schemes are meant to foster an environment where FOs can explore alternative assets. Beyond equities, FOs surveyed are also looking to channel investments into fixed-income securities and private markets, such as private equity and real estate. 51% of FOs are optimistic about private credit — non-banking debt that is privately traded, while 75% are bullish on infrastructure. Lili Forouraghi, Head of Family Office, Healthcare, Endowment and Foundations for BlackRock in the US, commented: 'The sustained demand and interest in private credit and infrastructure from family offices is a testament to the illiquidity premia and differentiated return opportunity in the current investment landscape.' 'Access to opportunities and the right strategies continue to rise in importance as these asset classes evolve from niche strategies to the cornerstone of client portfolios,' he added. However, analysts caution there are risks ahead. Europe has to contend with energy price volatility and geopolitical tensions, which 84% of FOs consider critical. Meanwhile, the long-term growth prospects for Japan are limited by ageing demographics. Overall, the trend benefits Singapore due to its safe-haven status. The US-China trade tensions and their impact mean Singapore's neutrality, stability and governance framework position it as a destination for reallocating capital.
Bloomberg
20-05-2025
- Business
- Bloomberg
Nigerian Sovereign Fund Boosts Exposure to Asia, European Assets
By , Jennifer Zabasajja, and Joumanna Bercetche Save Nigeria's sovereign wealth fund reduced its exposure to the US at the beginning of this year and bought other investments to diversify its portfolio. The fund, which had 4.42 trillion naira ($2.76 billion) under management as of December, reduced the exposure of its Future Generation Fund to US markets and bought more Japanese, Australian and European assets, Umar-Sadiq said in an interview with Bloomberg TV on the sidelines of Qatar Economic Forum in Doha on Tuesday.
