Citi: APAC Family Offices Lead NextGen Wealth Control
The ultra-rich in Asia are exhibiting leadership in succession with the region’s family offices leading in passing over control of wealth to the second generation, according to a report by Citi.
Family offices in Asia Pacific are the leading region globally in terms of control of wealth by the second generation with 43 percent having passed the torch, according to Citi’s 2025 Global Family Office Report.
In terms of next generation opportunities, education about family wealth was cited as the top issue by 73 percent of respondents in APAC. This was followed by professional experience outside of the family enterprise (47 percent), experience inside the family enterprise (45 percent) and mentoring (45 percent).
Bullish Investment Outlook
On investments, there were concerns from APAC family offices with trade disputes (61 percent) and US-China relations (53 percent) named as the major worries. In fact, the region had a greater response to tariffs than global counterparts with allocations to perceived defensive asset classes (39 percent), geographies (22 percent) and sectors (17 percent).
However, the outlook remains bullish with 83 percent anticipating portfolio returns of over 5 percent in 2025, in line with the global average. APAC families were also among the most international with 76 percent having a global footprint.
«The 2025 report clearly signals a new era for family offices in Asia Pacific,» said Bernard Wai, APAC head of Citi Wealth's global family office group. «We are seeing a proactive and highly confident approach to investment, particularly in public equities, coupled with a commendable dedication to nurturing the next generation of wealth stewards and embracing a global outlook.»
The report was based on a survey of 346 entities from 45 countries across North America (41 percent), APAC (29 percent), EMEA (23 percent) and Latin America (7 percent). 47 respondents had more than $500 million in assets under management.
