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Unprecedented Growth of Wealth and Greater Economic Integration Augurs Well for the ASEAN Wealth Management Industry
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Labuan International Business and Financial Centre and the Financial Times Host Second ASEAN Wealth Management Summit 2014

SINGAPORE, 18 November 2014 - Labuan International Business and Financial Centre (Labuan IBFC) and the Financial Times today hosted the ASEAN Wealth Management Summit 2014 at the InterContinental Hotel in Singapore.

Titled “The Rise of South East Asia’s Affluent”, the Summit provided a special focus on the future of ASEAN’s wealth management industry in view of the remarkable growth of wealth and greater economic integration in the region.

“The wealth management industry, within the ASEAN local financial institutions, is still very much in its infancy, with most of the substantive assets still being captured by players from outside of this region. This must represent an opportunity for the progressive ASEAN players,” said Dato' Mohammed Azlan Hashim, Chairman, Labuan IBFC Inc, and former Executive Chairman of the Malaysian Bourse, Bursa Malaysia Berhad, in his keynote address.

“Against the backdrop of continued growth within the region, the provision of wealth management solutions tailored from a multitude of domiciles, including home grown ASEAN-based jurisdictions, such as Labuan IBFC, is no longer rare,” he added.

The Summit was co-chaired by Yuri Bender, Editor-in-chief of Professional Wealth Management and Jeremy Grant, Asia Regional Corporate Correspondent, both from the Financial Times.

Yuri Bender, Editor-in-chief, Professional Wealth Management said, “In the ASEAN region, the wealth management industry has the welcome task of accommodating growth in one of the world’s most dynamic economic areas, which is home to 600 million people.”

From left: Yuri Bender, Editor-in-Chief, Professional Wealth Management presenting a token of appreciation to Dato' Mohammed Azlan Hashim, Chairman, Labuan IBFC Inc. Standing in the far right is Saiful Bahari Baharom, Chief Executive Officer, Labuan IBFC Inc.

Videos and photos of the Summit will be available on the event website at www.ft-live.com/labuanibfc. Live tweets of the event can be found under Twitter hashtag #FTLIBFC.

The Summit gathered more than 250 regional industry leaders and professionals from leading private banks, asset management firms as well as family offices. Distinguished speakers that took part in today’s Summit included the following:
  • Saiful Bahari Baharom, CEO, Labuan IBFC Inc 
  • Ernest Chan, Managing Director and Head of Investment Management Services, Asia Private Wealth Management, Morgan Stanley 
  • Millie Chan, Lawyer and Senior Consultant, Asia Pacific Markets, Borden Ladner Gervais 
  • Neal Cross, Managing Director and Chief Innovation Officer, DBS Bank 
  • Frederic Dussaux, Head of APAC e-business, ETS Business Development & Sales, BNP Paribas Global Equities and Commodity Derivatives 
  • Kenny Foo, Head of Wealth Advisory, Asia Pacific, J.P. Morgan Private Bank 
  • Katie Graves, Consultant, Withers Consulting Group 
  • Anthony J. Harper, President and CEO, Managed Investments – Asia Pacific, BNY Mellon Managed Investments 
  • Eric Landolt, Executive Director, Head of Family Advisory Asia-Pacific, UBS AG 
  • Mark Lea, Partner and Managing Director, Lea & White International Advisers Limited 
  • Alvin Lee, Head, Regional Private Wealth, MayBank
  • Nadav Lehavy, Managing Director, SandAire Singapore 
  • Kirill Nikolaev, Managing Partner, NICA Multi Family Office 
  • Eliza Ong Yin Suen, Managing Director, Regional Head of Group Asset Management, RHB Asset Management 
  • Tahnoon Pasha, Chief Investment Officer, The Inner Sanctum 
  • Sonjoy Phukan, Chief Operating Officer and Chief of Staff, AMEA, Barclays Wealth and Investment Management 
  • Sandipan Ray, Chief Information Officer, Asia Pacific, Deutsche Asset and Wealth Management 
  • John Rogers, Managing Partner, Singapore Office, Walkers 
  • Carol Seah, Founder and CEO, WYNNES Family Group 
  • Tan Su Shan, Group Head, Consumer Banking & Wealth Management, DBS Bank


For further information, please contact:

Financial Times

Rebecca Watts
T: +44 (0) 20 7873 3097
Labuan IBFC

Shamillia S Unsworth
Director, Communications
T: +603 2773 8977


About the Financial Times:

The Financial Times, one of the world’s leading business news organisations, is recognised internationally for its authority, integrity and accuracy. Providing essential news, comment, data and analysis for the global business community, the FT has a combined paid print and digital circulation of 690,000 (Deloitte assured, Q3 2014). Mobile is an increasingly important channel for the FT, driving 60 per cent of subscriber consumption, almost 50 per cent of total traffic and 20 per cent of new digital subscriptions. FT education products now serve two thirds of the world’s top 50 business schools. For news about the FT, follow @FTPressOffice.
 

About Labuan International Business and Financial Centre (Labuan IBFC):

Labuan International Business and Financial Centre (Labuan IBFC) presents a comprehensive midshore solution striking the ideal balance between client confidentiality and compliance with international best standards. Its business-friendly environment, anchored by a simple and attractive tax system, is well-supported by a robust, modern and internationally-recognised legal framework enforced by its regulator, Labuan Financial Services Authority (Labuan FSA).

Labuan IBFC boasts Asia’s widest range of business and investment structures facilitating cross-border transactions, business dealings and wealth management needs. These unique qualities offer sound options for regional businesses going global or global businesses looking at penetrating Asia’s burgeoning markets.

Strategically located in the heart of Asia Pacific, Labuan IBFC is well positioned to tap into one of the fastest growing regions in the world, presenting the perfect opportunity for businesses seeking to connect with Asia’s economies and beyond.

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