Swiss asset manager Reuss Private AG in partnership with private equity fund manager Tembusu Partners to start a new multi-family office in Singapore
Reuss Private AG, in partnership with Singapore-based Tembusu Partners, has launched a new multi-family office (MFO) Tembusu Wealth Management in Singapore. The MFO will be led by private wealth veteran and Managing Partner Jonathan Ng, formerly from Pictet Singapore, where he was the Market Leader for Southeast Asia Wealth Management Unit. With over 25 years of extensive experience in renowned financial institutions, Jonathan brings a deep understanding of the Southeast Asian market and a remarkable track record of success. His expertise in serving high-net-worth and ultra-high-net-worth families, combined with the expertise of wealth manager Reuss Private and private equity fund manager Tembusu Partners, offers a new comprehensive solution for managing family office wealth in Singapore.
The establishment of Tembusu Wealth Management comes at a time when the region is experiencing a significant influx of private funds. Recent statistics from the Monetary Authority of Singapore (MAS) reveal that assets under management held by family offices, clients of external asset managers, private trusts and high-net-worth individuals rose by USD 470 billion from 2017 to 2021. These developments underscore the need for experienced wealth management services.
The genesis of Tembusu Wealth Management has been several years in the making. Mr Andy Lim, founder and Chairman of Tembusu Partners, said, “We are delighted that Jonathan has chosen Reuss Private and Tembusu as his partners for the newly established multi-family office business. With his extensive experience in Southeast Asia’s wealth management landscape, we are confident our multifamily office will provide exceptional service to high-net-worth families seeking independent advice for their wealth preservation needs across generations.”
Michael Bögli, Partner of Reuss Private AG, said, “This collaboration sparks an exciting journey fuelled by shared resources, network and expertise.”
Jonathan Ng also shared his thoughts on launching Tembusu Wealth Management, stating, “The financial landscape is constantly evolving, this new partnership platform unites the best ideas and expertise to create a tailored solution for each unique client, ensuring financial harmony and a legacy that lasts.”