According to Henley & Partners, a large number of wealthy Chinese individuals are looking to take their wealth offshore and it estimates that in 2022, China’s total estimated outflow was around US$48 billion. Top destinations include US, Canada, Australia, UK and Singapore. Singapore particularly has seen an influx of wealth from Greater China in recent years. A recent FT.com article has reported that as many as 1,500 Single Family offices have been set up by wealthy Chinese individuals and families. However, rules around setting up a Single Family office in Singapore have been tightened and it can be challenging for such family offices to both meet the Monetary Authority of Singapore’s (MAS)’s rules and secure top tier talent.

In response to growing demand, Lighthouse Canton is bolstering its Wealth Management team’s capabilities to better service and scale the Greater China client segment. It has added Kenneth Yeo as Managing Director & Senior Client Partner, Wealth Management to its Greater China team. Kenneth brings with him two decades of Investments and Wealth Management experience spanning global markets. He was previously Chief Executive Officer in Aurous Capital Pte Ltd and oversaw the firm’s expansion to offer products such as Pre-IPO Deals, Private Equity, Private Credit, Co-Investment and Co-GP funds/Fund of Funds. He has also held previous roles in CreditEase Asset Management, HSBC Private Banking, HSBC Global Markets and Citibank.

“The Greater China client segment is a key demographic for our firm’s growth and we are excited to welcome Kenneth into the Greater China team.” Shilpi Chowdhary, Group Chief Executive Officer for Lighthouse Canton commented, “This is a dynamic client segment, one which is rapidly evolving and that presents numerous opportunities for growth and success. As more and more families move into Singapore, our Greater China team is committed to providing innovative investment solutions and meeting the needs of their family offices. Together with Kenneth and the Greater China team, we look forward to our continued growth in this critical segment.”

Commenting on his appointment, Kenneth said, “I am honored to be joining Lighthouse Canton’s Greater China team and look forward to helping with the firm’s strategic expansion efforts in this dynamic and rapidly evolving client segment. With Lighthouse Canton’s strong reputation and its commitment to serving the Greater China client segment, I see great potential for growth and innovation.”

Lighthouse Canton’s hiring of Kenneth Yeo is a strategic move by the firm to provide its expertise and Multi-Family Office services to a growing client base. By expanding its proposition to this segment, Lighthouse Canton looks to help Greater China clients navigate their journey through the complex landscape of offshore wealth management and secure their financial future. With its deep knowledge of the local and regional market, its expertise in wealth and asset management and its reputation for delivering innovative investments and high-quality wealth management solutions to its clients – Lighthouse Canton is poised to play a leading role in serving this growing segment through their offices in Singapore.

Headquartered in Singapore, Lighthouse Canton services an international client base and oversees over US$3Bn of assets under management and advisory (as of 30th September, 2022). With over 100 experienced professionals across its global offices in Singapore, Dubai and India, it offers both wealth and asset management services to accredited private clients, institutional investors and an ecosystem of founders and entrepreneurs globally.

Its Wealth Management business provides corporates, ultra-high net worth individuals, family offices, founders and entrepreneurs, assistance with their personal and business investment needs, with tailored investment advisory, portfolio management, treasury, business & family office solutions.

It also has strong internal Asset Management product capabilities across private and public markets. It runs strategies like private equity in real estate, direct lending, venture equity, venture debt, public equities, and global macros.

Lighthouse Canton’s innovative investments and exceptional client experience have been recognized by leading industry publications and it has been awarded several accolades including

Asian Private Banker’s Awards for Distinction 2022

·         Best Independent Wealth Manager Asia Pacific

Asian Private Banker’s Awards for Distinction 2021

·         Best Independent Wealth Manager Investment Advisory Services

·         Best Independent Wealth Manager Wealth Planning Services

Global Private Banking Innovation Awards 2022

·         Outstanding Digital Transformation in Covid-19 by a Family Office

·         Best Family Office – United Arab Emirates

·         Best Family Office – Middle East