Raising the Bar
Singapore drives forward in raising capabilities for family offices, says FOO Mee Har, Chief Executive Officer of the Wealth Management Institute.
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Foo Mee Har, Chief Executive Officer of the Wealth Management Institute (WMI) in Singapore, plays an influential part in driving and guiding the rapid expansion of the city- state’s family office sector.
The institute, which was founded by GIC and Temasek, is viewed by many as Asia’s center of excellence for education and research in the economically vital areas of wealth and asset management.
Under Foo’s leadership, it has grown to become a key provider of specialized training for private banks, wealth managers, asset managers, lawyers, trust professionals, regulators, family offices and members of high-net-worth families who need practice-based, industry- focused education. In the space of family office, this covers topics such as family office governance, leadership, investments and social impact.
“There has been much interest in the arrival of family offices in Singapore recently,” Foo noted in a speech to the nation’s Parliament, where she has served as an elected member since 2011. “They come from a diverse range of countries and represent some of the most successful entrepreneurs and business owners around the globe.”
Family businesses are choosing Singapore to establish their offices for a variety of reasons. Some are attracted by the safety and stability. Others come in search of new investment opportunities in Southeast Asia, good growth prospects, an uncomplicated regulatory framework, and steady returns.