The new Beijing office is headed by Annie Hu, who recently joined Raffles FO to oversee the firm’s business in mainland China.
The addition of its Beijing branch, means that Raffles FO now has five locations across Asia, including offices in Shanghai and Taipei. This translates to a regional physical footprint of 35,000 square feet and capacity to house 350 employees; a headcount it aims to reach within the next two years in line with its growth rate, according to a statement by the firm.
“With its existing presence in Shanghai and now an on-the-ground team in Beijing, I believe Raffles FO is well placed to understand and serve the needs of China’s fast-growing [ultra-rich],” said Wu.
Raffles FO has also expanded its headquarters at The Center building in Hong Kong, with concurrent expansion in Singapore, which the firm expects to support its business growth and the rollout of its so-called “Raffles Ecosystem” offering, which the firm’s CEO and founder Chiman Kwan describes as an “incubation facility”.
Designed to help single-family offices (SFOs) in the region through the use of its networking services, Raffles Ecosystem is a physical workspace in which SFOs can house their operations.
The new facility is located next to Raffles FO’s Hong Kong headquarters and is already hosting two Raffles Ecosystem partner firms.
Each of the partner firms is provided with a private office and access to RFO’s supporting fund, governance and advisory services.
Meanwhile, Ecosystem partners in Singapore now receive access to a “hot desk” area next to the firm’s enlarged office
Hong Kong-based Raffles FO is a multi-family office with a suite of services for ultra-high-net-worth families and individuals.
Hong Kong aims to become a family office hub, and with the wealth management connect scheme soon to be implemented, the city’s family office industry should be a major beneficiary, Family Office Association Hong Kong said a few days ago.
