Cover Standard Chartered Global Private Bank Standard Chartered serves UHNW families and their family offices through bespoke wealth solutions and a comprehensive suite of services available, while leveraging the group’s wider network across more than 50 markets worldwide
Standard Chartered Global Private Bank Standard Chartered serves UHNW families and their family offices through bespoke wealth solutions and a comprehensive suite of services available, while leveraging the group’s wider network across more than 50 markets worldwide
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In an age of uncertainty, resilience is the new measure of enduring wealth. Standard Chartered Global Private Bank empowers the world’s most successful families to navigate complexity and secure their legacies across generations
Shifting geopolitics; an increasingly volatile world economy; disruptive innovations such as artificial intelligence (AI); climate change: these are just some of the challenges that ultra-high-net worth (UHNW) families must contend with as they navigate the complexities of investment, governance and succession.
The difficulties of doing so have become increasingly evident; a recent global study by Standard Chartered Global Private Bank revealed that nearly three-quarters of the more than 300 UHNW families and their advisors surveyed have observed a rise in conflict among family members due to market volatility.
“The world is more complex and volatile than ever, and this trend is unlikely to reverse,” notes Raymond Ang, global head of Private Bank and Affluent Clients, and head of Wealth and Retail Banking, Greater China and North Asia, at Standard Chartered. “Given this new reality, resilience will be the defining trait for families to successfully navigate towards their legacy goals.”
Above Raymond Ang, global head of Private Bank and Affluent Clients, and head of Wealth and Retail Banking, Greater China and North Asia, at Standard Chartered
Raymond Ang, global head of Private Bank and Affluent Clients, and head of Wealth and Retail Banking, Greater China and North Asia, at Standard Chartered
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The new playbook
Indeed, as revealed by the same Standard Chartered global study, sophisticated UHNW family offices are modifying their approach to managing, preserving and growing wealth amid uncertainty. Rather than focusing solely on risk management, they are now prioritising agile geographical positioning, professionalised and technologically enabled governance, and robust succession planning, with the end goal being to foster the resilience needed to withstand the myriad uncertainties ahead.
Standard Chartered Global Private Bank is actively supporting UHNW families and their family offices undergoing this transition. As Standard Chartered group’s dedicated private banking arm, it serves its clients through key advisory centres in Hong Kong, Singapore, the UAE and the UK while leveraging the group’s wider network across more than 50 markets worldwide. The bank complements its global reach with bespoke wealth solutions and a comprehensive suite of services available on its open architecture platform, from investment and private market opportunities to dedicated services for external asset managers and family offices. These are, in turn, underwritten by deep expertise in working with UHNW families across both geographies and generations, to help them grow, manage and preserve their wealth.
In case you missed it: Strategic wealth solutions for the UHNW and their families from the experts at Standard Chartered Global Private Bank
Unique circumstances, universal concerns
Of course, the paradigm shift towards a resilience-focused operating model is far from simple. “Family offices will need to continuously adapt and evolve the way they are structured in order to react to changes in global operating environments,” observes Mike Tan, global head of Wealth Planning and Family Advisory at Standard Chartered Global Private Bank. “Based on the clients we have interacted with, and the research we have done, there are some common issues and concerns family offices seem to be focused on today.”
For a start, many families are now grappling with the issue of location for their family offices. The aforementioned Standard Chartered study, for example, revealed that 54 per cent of the respondents are considering a move in the next 12 months. This reflects a growing list of considerations in addition to traditional ones (think financial infrastructure), as factors such as geopolitical stability and access to talent become increasingly important.
Succession is yet another challenge. According to Standard Chartered’s report, 90 per cent of the UHNW families surveyed agree that next-generation engagement is essential, but one-third of them are dissatisfied with current levels of involvement. Interestingly, dissatisfied respondents are evenly split between feeling that their successors are not sufficiently engaged and believing that they are overly so, which hints at the difficulty of striking a balance.
Read more: Opinion: “Passing on wealth isn’t merely a numbers game; it’s a battle against human nature”
Developing the capabilities to leverage advanced technologies in operations has become a priority as well. According to Tan, families “increasingly view tech as a strategic wealth management partner”, and use it to “enhance portfolio management as well as to detect and anticipate risk”. Adopting a tech-centric approach demands expertise though, in terms of both execution and oversight.
Above Mike Tan, global head of Wealth Planning and Family Advisory at Standard Chartered Global Private Bank
Mike Tan, global head of Wealth Planning and Family Advisory at Standard Chartered Global Private Bank
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Navigating the above challenges, and more, requires a banking partner that is more than just a counterparty. This is where Standard Chartered Global Private Bank sets itself apart. From structuring deals to setting up permanent capital vehicles, the bank provides advisory and executional services that support the unique objectives of each family while taking the long view for enduring resilience. Specialist teams across functions such as investment strategy and tax/estate planning are also on hand to address a family or family office’s every need.
The power of connection
Beyond its role as a partner, Standard Chartered Global Private Bank serves as a platform for UHNW families to build connections with one another. Key to this is the Global Families Network Forum, the bank’s exclusive flagship programme for UHNW families to network as well as engage with both peers and experts on topics related to business, investments, family, wealth and legacy in a private and dedicated setting.
The 2025 edition of its Global Families Network Forum, with Shifting Paradigms as its theme, took place last month in Dubai. The event hosted over 80 UHNW families, presenting insights into investments, wealth planning and family advisory as well as forward-thinking perspectives on global issues. Preceding the main conference was a NextGen Programme tailored to engage next-generation family members through interactive workshops on venture building. It also tackled communication challenges that stem from differing values, expectations and decision-making styles across generations.
Securing tomorrow today
As the world grows ever more uncertain, building resilience has become ever more critical for UHNW families seeking to secure the future they foresee. The earlier families embrace change—whether in the areas of governance, succession or elsewhere—the greater the flexibility and control they will have in shaping their futures. With its global reach and deep expertise, Standard Chartered Global Private Bank stands ready to help families navigate this transformation.
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Images: Standard Chartered and Getty Images
