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Asia’s family office frenzy comes with plenty of imposters
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A rapidly growing wealth management industry is spurring a rise in allegations of fake family offices from Singapore to Hong Kong.
ST PHOTO: LIM YAOHUI
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Singapore - As Mr Edoardo Collevecchio was getting ready to speak at a conference in Singapore, he recognised the family office that employed a fellow panellist. But as they exchanged small talk, Mr Collevecchio noticed something was off – the executive could not answer basic questions about his firm and did not even recognise the name of an owner.
It soon became clear the “executive” had never worked for the family office directly, and had misrepresented his status. An awkward snip later, the panel went ahead – minus one speaker.
