For subscribers
Jobs, capital for businesses: Benefits family offices can bring to the economy
Sign up now: Get ST's newsletters delivered to your inbox
The family office sector is said to not only contribute to the growth of the financial industry but also benefited the supporting advisory industry and the philanthropy sector.
ST PHOTO: NG SOR LUAN
Follow topic:
SINGAPORE – Family offices have made a positive contribution to Singapore’s economy and it should not be ignored simply because of a few rogue players, said industry experts, addressing the negative publicity linked to them
Ms Gillian Tan, assistant managing director (development and international) at the Monetary Authority of Singapore (MAS), said: “Single family offices (SFOs) are part of the wealth management ecosystem; they manage the wealth of a single high net-worth family. A thriving SFO sector can provide job opportunities for our people, providing potential patient capital for our businesses and uplifting society overall.”
