“We are excited to be in the region; it has been a long-term objective of ours as a firm to find the right partner in Singapore amid the boom in entrepreneurial output,” AlTi president for international wealth management Robert Weeber tells The Edge Singapore.
Global wealth firms are choosing inorganic channels to expand their businesses in Southeast Asia by acquiring smaller players in Singapore. AlTi Tiedemann Global and AGBA Group Holding, listed on the Nasdaq, respectively acquired independent wealth manager AL Wealth Partners (ALWP) and financial adviser Sony Life Financial Advisers earlier this year.
Both AlTi and AGBA already have a strong presence in Hong Kong. The acquisition marks both players’ increasing efforts in tapping into the growth of the region’s high-net-worth (HNW) and ultra-high-net-worth (UNHW) individuals.
