Crossbridge Expands Eastwards With New Singapore Office
Crossbridge Capital, the investment firm for high net worth entrepreneurs and families which launched its first operation in the UK two years ago, has opened its Singapore office after securing local regulatory approval.
“This is our first international expansion and it gives us a key toe-hold in Asia and gets us into these markets,” Tarek Khlat, chief executive, told this publication ahead of the launch announcement.
Crossbridge has already moved a long way from its origins in September, 2008, when it was founded by a group of ex-Credit Suisse bankers. Its foray into the Singapore wealth management arena puts it in good company: dozens of Western firms are branching out into the region, attracted by the fact that Asia Pacific’s HNWI population surged by almost 26 per cent last year to 3 million, according to figures cited by Crossbridge.
The firm has in the past told this publication that it offers a personalised service that is sometimes not provided by the biggest banking groups; many entrepreneurs require the kind of attention to detail provided by a family office and Crossbridge will often be the first stepping stone in such a process - which explains the firm's name.
“Crossbridge has established a premium quality offering for its existing clients and it is an exciting prospect knowing we will be driving business in the region and getting the brand out in the market place,” said Yai Sukonthabhund, partner at the Singapore office.
At present, the firm employs more than 25 professionals, covering regions including the Middle East, Russia, CIS and Turkey. Early in November, Crossbridge launched an advisory board, with Marwan Alireza, Reem Al-Bahar, Pooja Budhrani and Maher Mikati as its founding members. Crossbridge shareholders include Swiss wealth management major Julius Baer.
Crossbridge Capital (Holding) Co. Limited is a company incorporated in Malta with a regulated UK investment advisory subsidiary.