Singapore-based multi-family office Golden Equator Wealth (GEW) has appointed Gary Tiernan as managing partner. Tiernan will head the multi-family office’s (MFO) team of wealth managers as well as drive its expansion into other markets and the growth of its different initiatives.
Tiernan brings more than 30 years of experience in investments, private banking, and independent asset management across London, Geneva, and Singapore, with an extensive leadership track record in building regional and global teams. He was most recently head of investments at Crossinvest Asia, where he led investment asset allocation and security selection recommendations for the independent asset manager’s client portfolios. Prior to that, he has held senior management roles at Standard Chartered Private Bank and Deutsche Bank Private Wealth Management in Singapore.
With clients across 12 countries, GEW is a Singapore-based multi-family office (MFO) offering UHNW individuals and families comprehensive professional services to simplify their complex wealth demands.
Tiernan reports to Shirley Crystal Chua, founder and Group CEO of Golden Equator, the holding company of GEW. With Tiernan’s appointment, GEW aims to double its team strength in 2020 from the current count of 15 staff. GEW currently manages more than S$600 million (US$442.17 million) with wealth managers in Singapore and Indonesia, and has access to alternative investments capability through its in-house venture team and private capital team as part of the Golden Equator Group.
The MFO has also been getting interest from European and Australian families looking to set up personalised family offices in Singapore to get more Asian exposure. It has also been in talks with governments and industry partners in the region to set up more presence, including in Brunei, Europe, Australia, and Hong Kong, in the next few years.
Chua says, “One of our key focus as a group is investing in the future, and one of the ways we do it is via education. As Asia’s founder generations age, we want to help the UHNW families understand the importance of building a personalized family office with integrated structures for an effective wealth transfer, and beyond that, preparing the NextGens and passing on the family values and story to the generations to come.”
The appointment follows Golden Equator Group’s S$24.6 million strategic investments earlier this year by individual investors from Japan, Korea, UAE, Qatar, Indonesia, Brunei, Taiwan, and Singapore to enable the ecosystem builder’s overseas expansions and to continue using Singapore as a base to connect the broader Asia-Pacific and Middle East regions.