March Roundup

Family Office News Roundup – March 2025

The family office sector in March showcased strategic expansions, technological advancements, and regulatory shifts, reflecting the dynamic nature of ultra-high-net-worth wealth management. This month, we explore key investments, cybersecurity concerns, and the evolving role of family offices in global markets.

Key Topics and Insights

1. Strategic Expansions & Market Entries

• UBS Targets Australia’s Wealth Market: UBS Group appointed Tim Clemenger as its first client adviser for wealth management in Perth, aiming to attract high-net-worth Australians (Business Times).
• Hong Kong Attracts Family Offices: Another 150 family offices expressed interest in setting up in Hong Kong, citing its vibrant arts scene and favorable business environment (SCMP).
• Jadewell Family Office Opens Hong Kong HQ: The independent wealth management advisor leveraged Hong Kong’s financial ecosystem to establish its headquarters (The Standard).

What this means: Family offices and wealth managers are expanding into new markets, particularly in Asia-Pacific regions like Australia and Hong Kong, driven by favorable policies and growing wealth pools. This trend highlights the increasing globalization of family office operations.

2. Cybersecurity & Risk Management

• Cybersecurity Named Top Risk for Family Offices: Jason Lau of ISACA emphasized cybersecurity as the single biggest threat to family office assets and reputation at the Bloomberg Family Office Summit (Bloomberg).
• BlackCloak Launches Enhanced Cybersecurity Bundle: The firm introduced tailored cybersecurity services for multi-generational family offices (CPA Practice Advisor).

What this means: With rising cyber threats, family offices are prioritizing robust cybersecurity measures to protect assets and reputations. This underscores the need for continuous investment in digital security frameworks.

3. Tax Incentives & Regulatory Developments

• Hong Kong Plans More Tax Breaks for Family Offices: Financial Secretary Paul Chan announced additional tax concessions to attract family offices (Bloomberg).
• Singapore Family Office Hit by $55M Fraud Scandal: A wealthy businessman accused former employees of misappropriation (Nikkei Asia).

What this means: Governments are using tax incentives to attract family offices, while incidents of fraud emphasize the importance of stringent internal controls and regulatory compliance.

4. Technological & Investment Innovations

• Move Digital Leads Tech Transformation: Unveiled ambitious plans for AI, blockchain, and robotics (Yahoo Finance).
• Family Offices Shift to Alternative Investments: Alternative assets now account for 44% of portfolios (Deccan Herald).
• Lighthouse PropTech Raises $2.5M: Funding led by Turbostart and Dabur Family Office (Business World).

What this means: Family offices are embracing cutting-edge technologies and diversifying into alternative assets, reflecting innovation-driven investment strategies.

5. Leadership & Organizational Shifts

• Nicola Forrest Appoints UBank Boss: Expanded family office leadership (AFR).
• HSBC Executive Launches Family Office: Owen Jenkins departed to establish independent venture (Citywire).
• Blue Owl Capital Appoints New Head: Hired Blake Shorthouse from KKR (Yahoo Finance).

What this means: Leadership changes highlight the growing sophistication of family offices as they attract top talent and refine strategic focus, reshaping wealth management competition.

In Closing

March’s developments underscore the increasing complexity and global reach of family offices, from cybersecurity challenges to innovative investments. With Hong Kong and Singapore emerging as key hubs, and technology driving new opportunities, family offices are adapting rapidly to a changing financial landscape. The coming months will likely see further regulatory adjustments, technological integration, and strategic expansions as family offices continue to evolve.