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Family offices still rare in Asia:
Limited ASIA'S wealth may have burgeoned in recent years at a rate surpassing that of the US and Europe, but family offices remain a rarity.
Lichtenstein-based VP Bank's Patrick Wild, who heads private banking overseas, reckons there are between 10 and 50 Asian family offices, mostly based in Hong Kong.
The bank expects the number of family offices in the region to grow to between 40 and 120 by 2015.
In a joint study with the
University of St Gallen, the bank found that wealthy Asian families are not yet considering issues such as systemic wealth preservation, succession planning and legacy creation.
