Wealth platform Wrise expands in Hong Kong as more family offices set up shop
Wrise, a wealth management platform, has expanded in Hong Kong after seeing an increase in rich clients setting up family offices
Wrise Chairman Derrick Tan said his firm opened a second office in the city, spanning 17,000 sq ft, in Lee Garden One in Causeway Bay. The new office is four times the size of the first one, which is in nearby Hysan Place.
Tan set up Wrise two years ago to serve family offices and ultra-high-net-worth clients in Asia, mainland China and the Middle East.
The company is an independent platform that is linked with 150 financial partners, including Goldman Sachs, JPMorgan, UBS and others – including 30 in the insurance industry – who can sell their products to rich clients via Wrise offices in Hong Kong, Singapore, Tokyo and Dubai.
At present, Wrise serves ultra-high-net-worth customers with investment assets of US$25 million or more. And with a new affiliate, Wrise Prestige, it has expanded its services to people with assets of US$500,000 to US$5 million.
Henry Shin, a Hong Kong financier with more than 26 years of experience serving high-net-worth clients, has been named CEO of Wrise Prestige in the city.
