Latest news with #multifamilyoffices
Bloomberg
27-05-2025
- Business
- Bloomberg
Santander Setting Up Miami, Switzerland Offices for Super-Rich
Banco Santander SA 's new wealth consultancy services for super-rich clients are set to reach Miami, Switzerland and Brazil after launching in Spain. The lender is setting up independent multifamily offices under the Beyond Wealth brand, people familiar with the plans said. The Spanish office is already registered and has 10 employees, charging clients annual fees of at least €100,000 ($114,000) for consultancy services, they said, asking not to be named discussing internal information.
South China Morning Post
13-05-2025
- Business
- South China Morning Post
Multifamily offices could yield bigger benefits for Hong Kong, industry executive says
Hong Kong should strive to become a hub for multifamily offices to enhance its economy and global standing in a volatile market, as these entities wield greater influence than single-family offices, according to the group CEO of Raffles Family Office. Multifamily offices can enhance Hong Kong's 'economic landscape, contributing to greater gross domestic product, job creation and a positive global image for the city', said Kwan Chi-man. Such offices serve multiple ultra-high-net-worth families and typically need a licence as they operate as commercial ventures. 'For the wealth management industry to advance, multifamily offices are undoubtedly a key growth engine,' said Kwan, who is also the chairman of the Family Office Association Hong Kong. 'Hong Kong should look to diversify its focus beyond single-family offices.' These 'institutional-grade entities' would contribute to the city's financial ecosystem, he added. Raffles Family Office group CEO Kwan Chi-man at the company's new office in Central. Photo: Jonathan Wong The Hong Kong government has taken several steps over the past three years to become a family office hub, with the number of single-family offices reaching 2,700 thanks to tax incentives and immigration policies. Meanwhile, there were only 'a couple of hundred' multifamily offices in Hong Kong, according to a March report by the Centre for Family Business at the Chinese University of Hong Kong.
