The group's collection of offices are intended to cater to as many as 350 staff and the firm said it intends to reach that number in the next two years.

Raffles Family Office, the Asian wealth management group, has opened its new and expanded headquarters at The Center in Hong Kong, announcing that it is boosting its Singapore business.

RFO now has five locations across Asia, including offices in Shanghai and Taipei, capable of housing 350 employees, a headcount target it intends to reach within the next two years. The organisation has about 100 staff in the region at present, a spokesperson told this publication when asked about the matter.

The Hong Kong office aims to serve single-family offices from Asia and beyond. The “Raffles Ecosystem” is a physical workspace in which SFOs can house their operations. The facility, which is situated next to the firm’s Hong Kong headquarters, already houses two Raffles Ecosystem partner firms. 

Besides the larger Hong Kong and Singapore offices, RFO has expanded to Beijing. Its new office in the Chinese capital is headed by Annie Hu, executive director, who recently joined to oversee the firm’s business in mainland China.

The multi-family office has appointed a number of figures to its ranks, such as Edward Sit as executive drector and Greater China corporate development head - an example of how wealth management is evolving into a variety of business models across Asia.

Last July this news service spoke to Kendrick Lee, who is managing partner and Derek Loh, head of equities at the Singapore-based firm.