Asia’s Next Banking Disruption: Built by and for Family Offices

With Singapore and the UAE in the mix, a serial banking disruptor aims to revolutionize wealth management for the ultra-rich.

Anthony Thomson, the maverick behind Metro Bank, Atom Bank, and Australia’s 86 400, is back – and this time, he’s taking on the exclusive world of family offices (FOs) with his most ambitious banking venture yet.

Dubbed Family Offices Bank (FOB), the new institution will be owned by the ultra-wealthy families it serves, promising bespoke financial solutions and a radical departure from traditional private banking.

And Asia could be the launchpad.

New Bank, Built for the Few – By the Few

With over 12,000 family offices worldwide – many concentrated in Asia’s rising wealth hubs – Thomson says the timing couldn’t be better: «FOs and UHNWIs are increasingly frustrated with their banks. Legacy players are slow, rigid, and inattentive to the needs of today’s global families,» he notes.

FOB promises personalized banking, cutting-edge digital platforms, AI-powered services, and most critically, ownership for clients themselves. It’s a blueprint designed to empower families not only as clients, but as stakeholders with a seat at the table.

Asia in the Spotlight

While the bank’s final jurisdiction is still under wraps, Singapore and the UAE – two global hubs for family offices and private wealth – are front-runners alongside Jersey. An announcement is expected by the end of the year.

The Asian focus is no accident: Singapore alone is home to over 1,500 single-family offices, with that number expected to soar. Thomson’s team is actively courting Asian UHNWIs and FOs as founding investors and core clients.

Dream Team of Global Banking Heavyweights

FOB’s founding team reads like a who’s who of international banking:

  • Paul Pester, ex-CEO of TSB and Virgin Money
  • Stuart Grimshaw, former CFO of Commonwealth Bank of Australia and CEO of Bank of Queensland
  • Samantha Bamert, fintech entrepreneur and Barclays veteran
  • Sudip Dasgupta, ex-CTO of Monument Bank and Deloitte alum

With deep experience across Europe, Australia, the Middle East – and increasing ties to Asia – the leadership brings both pedigree and global reach.

Flexible, Future-Proof, and Family-Led

What sets FOB apart? According to Thomson, it’s freedom from legacy systems and a relentless focus on intergenerational wealth needs. The model welcomes Single, Multi, and Virtual Family Offices, and positions the bank as a long-term partner for both financial strategy and personal legacy.

Investment is currently open exclusively to FOs and UHNWIs, reinforcing its community-driven approach.

With FOB’s launch targeted for late 2026, the race is on to finalize licensing, build infrastructure, and gather founding capital. But one thing is clear: this isn’t just another private bank – it’s a challenge to the global financial establishment, and Asia may be where that challenge begins.