Tatler Singapore teamed up with private bank VP Bank to unearth the complexities of family succession

Succession is a hot topic—and we’re not just talking about the hit series on HBO. 

Singapore is one of the wealthiest countries in the world, and many of the city’s billionaires can attribute their personal wealth to multi-million dollar family businesses. But generational wealth is a tricky subject, and family succession can be a sensitive area to navigate. 

On July 13, Tatler Singapore partnered with VP Bank, the Liechtenstein-based private bank, to host a dinner and fireside chat with some of VP Bank’s experts about how to better manage family succession. 

The event took place in the Atlantic Dining Room at Singapore's prestigious Tower Club. Surrounded by soaring floor-to-ceiling windows, guests mingled amidst magnificent views of the city's dynamic skyline. 

Guests in attendance included beauty mogul Jean Yip and Mervin Wee, of Jean Yip Group; Marilyn Lum, executive director of Lum Wen Kay Holdings; Jevan Tan, owner of The Citadel Group; Shann Sok, CEO of Kingsland Development; anaesthesiologist power couple Adrian Ng and Loh May-Han; Don Cheng and Queenie Lee-Cheng

The evening began with opening remarks from Pamela Phua, chief executive officer of VP Bank Singapore, followed by a few words from VP Bank’s global CEO Paul Arni, who was visiting Singapore from the bank’s headquarters in Liechtenstein. 

Edmund Leow, senior partner at Singapore's oldest legal practice, Dentons Rodyk, led a fascinating keynote speech where he presented real life examples of family succession he has witnessed or advised during his illustrious career, including during his time as a judicial commissioner for the Supreme Court. 

Leow was then joined by Johnny Heng, head of VP Bank in Singapore, and Esther Fung, a senior wealth planning specialist, for a panel discussion led by Tatler Singapore’s Features Editor, Coco Marett. 

Throughout the lively discussion, VP Bank’s experts shared their tips for seamless family succession—with the takeaway being the importance of planning ahead, encouraging open communication to better understand the next generation’s financial goals and interests, and of course, finding a bank that is well versed in navigating the complexities and nuances of family succession. 

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