Rise in family offices in Singapore necessitates quick development of wealth management talent to manage the challenges and opportunities of this segment
Singapore, 13 July 2022, (Wednesday) - In 2019, the global asset management industry reported stupendous growth, with global Assets Under Management (AUM) growing 15% to reach US$89 trillion. Singapore has seen burgeoning wealth over the past decade, with its AUM matching the global trend, rising 15.7% to reach US$2.9 trillion in 2019. In 2020, Singapore’s AUM grew 17% to reach S$4.7 trillion (US$3.5 trillion). Despite the COVID-19 pandemic, billionaire wealth managed in the country jumped 30% between April and July 2020 to reach US$102.6 billion.
Source: smu.edu.sg