Investment Committees Gain Prominence and Displace Founders in Family Office Decision-Making

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The evolution of family offices toward increasingly professionalized management models is transforming the way these structures make decisions regarding investments, governance, and wealth planning. This is the conclusion of a new global study conducted by Ocorian, an international provider of services to asset managers and asset owners, including private clients, fund administration, capital markets, and corporate and regulatory solutions.

The research, based on responses from members of entrepreneurial families and senior family office executives responsible for a combined $119.37 billion in assets, reveals a significant shift in internal leadership models.

Today, nearly half (47%) report that an investment committee has the final say on major investment decisions or wealth structures, compared with just 6% who still leave this responsibility to the family founder. In addition, 39% say decision-making authority rests with members of the next generation, while 6% delegate this role to external advisors and 3% to family councils or boards of directors.

The report also reveals a unanimous consensus: all surveyed family offices believe their organizations have become more professional over the past year and have implemented significant changes to achieve that goal.

Among the most common initiatives is the development of a more diversified and professionally managed investment portfolio (54%), as well as greater use of specialized external advisors (51%).

Meanwhile, 46% report having strengthened their compliance, tax, and legal infrastructure, while the same percentage have advanced the development of more robust succession plans.

Other measures aimed at strengthening these organizations include the creation of more cohesive philanthropic programs (42%) and the enhancement of management teams responsible for overseeing the family office (41%).

In terms of governance, the study shows a clear consolidation of formal mechanisms. Sixty-five percent of family offices now have an investment committee that includes independent members, while 60% have established an advisory board for the next generation.

More than half (56%) have created a formal risk committee, and 54% have independent external trustees or a board of directors. In addition, 35% have established a family council, and 18% have adopted a formal family constitution or charter.

Despite these advances, the sector continues to face significant challenges, particularly in relation to the increasingly complex international regulatory environment.

Only 8% of respondents believe they are very well advised and fully prepared to meet current regulatory requirements. Most (74%) consider themselves to be in a reasonably strong position, while 18% rate their preparedness as average.

According to Dion Yee, Chief Commercial Officer at Ocorian, “Family office operations and management are undergoing an increasingly rapid process of professionalization, and many organizations have already introduced substantial changes to their governance structures and the way they make investment decisions.”

“Many are looking ahead and preparing for succession, and investment committees are progressively replacing founders in decision-making rather than automatically transferring that responsibility to the next generation. However, there is still work to be done, particularly given global regulatory requirements that continue to evolve and become more complex,” he adds.

Ocorian’s specialized family office division offers a comprehensive approach to helping families navigate the challenges and opportunities associated with wealth management. Its model is based on long-term personal relationships and a deep understanding of clients’ priorities.

Its core services include family office formation and administration, human resources support, luxury asset and lifestyle management, family governance advisory, residency and relocation services, as well as specialized support in immigration, visas, payroll, maritime and aviation crew management, and financial reporting.

Europe Leads the Top Vacation Home Markets for HNWIs

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Global Citizen Solutions, a residency and citizenship planning consultancy, has published its report, Best Destinations for Owning a Vacation Home as an HNWI: The Lifestyle Perspective. The study ranks 20 global markets and concludes that seven of the top ten destinations for HNWIs (high-net-worth individuals) are located in Europe.

The analysis examines 20 established global markets, represented by their flagship luxury vacation home destinations, and evaluates them based on three criteria: real estate market quality, quality of life and lifestyle, and destination accessibility.

The study’s main conclusion is that the highest-ranked destinations are not those that excel in a single category, but rather those that perform strongly across all three simultaneously.

The fact that seven of the top ten destinations are European is due, according to Global Citizen Solutions (GCS), to a combination that is difficult to find in other regions: favorable weather, high-quality infrastructure, political stability, and accessible rules for foreign buyers. In the words of Patricia Casaburi, CEO of Global Citizen Solutions: “Europe’s leadership here is structural, not accidental. The leading markets share a rare alignment of climate, luxury infrastructure, security, and ease of purchase that continues to make the continent attractive to lifestyle-oriented buyers.”

Spain stands out for its balance between strong property appreciation and the highest quality-of-life score in the study. Portugal, meanwhile, recorded the highest appreciation in the ranking (a 17.7% increase in median bank appraisal values through October 2025), a strong safety index, and relatively accessible entry prices—factors that support rental yield potential in markets such as the Algarve and Comporta.

France and Italy, meanwhile, attract HNWIs through long-term demand and prestige, even with more moderate growth or higher entry prices. Austria and Switzerland offer near-maximum levels of security and a limited supply of properties. The United States leads in air connectivity, while Greece ranks highest for climate, with the greatest number of sunshine hours in the study. Niseko, Japan, and Queenstown, New Zealand, are also attractive from a portfolio perspective, offering diversification and high levels of safety.

The analysis also identifies a clear divide between two types of markets. Southern European destinations—Spain, Portugal, France, and Italy—appeal to buyers seeking lifestyle, capital appreciation, and a property they will use throughout the season. Alpine markets, by contrast, are favored by those seeking intergenerational value: limited supply and buyers who tend to hold properties for generations. Austria and Switzerland achieved the highest safety scores in the study. Austria is the more accessible of the two for foreign buyers, with less restrictive purchasing rules.

Liana Simonyan, researcher at the Global Intelligence Unit of GCS, adds: “Using a three-pillar framework, this index ranks twenty established luxury markets, with deliberately greater weight assigned to lifestyle and destination appeal than to real estate fundamentals—a methodological decision based on how high-net-worth individuals actually experience their vacation homes.”

Condoleezza Rice Warns That the AI Race Between the United States and China Will Define the World Order

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Condoleezza Rice en el Summit Insite 2026

Former U.S. Secretary of State Condoleezza Rice argued that the world is undergoing a profound transition away from the international order built after World War II, and that artificial intelligence (AI) represents the greatest technological disruption within that reconfiguration. Rice spoke before financial industry executives at INSITE 2026, an event organized by BNY, where she analyzed the new geopolitical landscape, the risks facing the West from China’s technological advances, and the challenges AI poses for education and institutional leadership.

“For nearly 80 years, we had a system that progressively moved toward an international economy that was not zero-sum. My growth did not come at your expense,” said Rice. That system, she argued, is breaking down, driven in part by the inability to integrate China as a cooperative actor within the global order.

Rice noted that Xi Jinping stated in 2015 that China would surpass the United States in frontier technologies such as AI, and that since then the Asian country has behaved more like a challenger to the system than a participant in it. Added to this is a domestic backlash in the United States against 80 years of globalization, with broad segments of the population who did not benefit from the model now calling for manufacturing to return home. “There is a recalibration underway, and we are somewhere in the middle of that recalibration,” she said.

On artificial intelligence, Rice was direct: it is a two-horse race, and she wants a democracy to win it. Her argument is not only technological but also political. It will never be possible to predict all the problems AI will create or all of its power, she warned, which is why it is preferable for its development to occur in an open society, with investigative journalism and institutional checks and balances. Regarding China, she was categorical: it will manage AI very differently from a democracy, just as it did with COVID, hiding problems and lying about them.

The former official acknowledged that the United States holds an advantage in cutting-edge innovation, partly thanks to restrictions on exports of advanced chips to China. But she warned: “We make a mistake if we believe everything China does is simply copying.” As an example, she cited DeepSeek, the Chinese AI model that shook the sector at the beginning of 2025. All national security experts were stunned, she said, but no AI scientist was surprised because “they were reading the academic papers.” Rice also emphasized that none of the company’s scientists studied outside China, revealing the strength of its domestic research ecosystem.

She identified two areas where China has an advantage over the United States: the speed of AI adoption and the global spread of its low-cost, open-source models, which are expanding worldwide more rapidly than American models. In light of this, Rice called for preserving the U.S. innovation ecosystem and advocated minimal regulation. She proposed a framework aligning the interests of major infrastructure providers, frontier-model developers, and the federal government in order to avoid what she described as “an AI 9/11,” without slowing innovation.

The debate over AI has also reached the classroom. Rice, a professor at Stanford University, argued that students must learn how to use AI agents with judgment: as assistants to critical thinking, not substitutes for it. If the agent does all the work, the brain stops exercising itself, she warned. She cited a recent article documenting how instant access to information reduces the practice of analytical thinking: where someone once tried to remember the date of the Crimean War, they now simply perform a search. Rice said this phenomenon will force a rethinking of teaching methods and the way organizations train their employees.

Rice also warned about a troubling domestic trend: Americans are more skeptical of AI than any other population in the developed world. She attributed this skepticism to the prevailing narrative that technology will destroy jobs, increase energy consumption, and threaten people. “With that narrative around AI, is it any surprise that people are nervous about such a powerful technology?” she asked. To illustrate the point, she recounted the story of an 11-year-old daughter of a friend who was remarkably polite to her chatbot. When her father pointed out that it was only a program, the girl replied: “When they come for us, I’ll be on the list of people who were nice to it.”

At the conclusion of her remarks, Rice described AI, robotics, synthetic biology, and space exploration as “civilizational technologies.” If future generations can look back and say these technologies were managed wisely, given their immense power, then humanity will have met the greatest challenge of its time, she argued. The former U.S. official also warned that the answer is not to lay off workers and replace them with agents, but rather to explore combinations that enable greater productivity with the same number of people, enhanced by AI tools.

UBS Strengthens Its International Platform in Florida with Two New Hires

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UBS continues to strengthen its presence in one of the most dynamic markets for wealth management with the appointment of Juan Antonio Sánchez Braña to UBS Wealth Management – Florida International. The executive will be based in Coral Gables and will be joined by Delvis Dominguez, who will assume the role of Senior Wealth Strategy Associate.

The Swiss firm is seeking to expand its capabilities to serve internationally connected clients with increasingly sophisticated wealth management needs, a segment that has become increasingly important in South Florida due to the presence of Latin American families and clients with assets spread across multiple jurisdictions.

Sánchez Braña brings more than 20 years of experience in private banking and investment advisory, with expertise in global wealth planning, portfolio construction, alternative investments, and risk management. He also holds three of the financial industry’s most respected professional designations: Chartered Financial Analyst (CFA), Financial Risk Manager (FRM), and Chartered Alternative Investment Analyst (CAIA).

According to information available in his professional profile, he spent a significant part of his career at Santander Private Banking International in Miami and also has prior experience in Spain. He is also a member of the CFA Society Miami.

Joining him is Delvis Dominguez, who also comes from Santander Private Banking International and has a strong academic background. He graduated from the Master of Science in Finance program at Florida International University, where he received distinctions including the Best Student Award and the Leadership Award, and graduated with highest honors after achieving a perfect academic record. Dominguez has also passed Level I of the CFA Program.

The arrival of both executives reflects the growing strategic importance of Miami and Coral Gables as key hubs for the international wealth management industry. In recent years, the region has established itself as one of the leading centers for serving Latin American clients and families with complex wealth structures.

With these additions, UBS aims to strengthen one of the fastest-growing areas within private banking: providing comprehensive advisory services to global clients by combining investment capabilities, wealth planning expertise, and specialized solutions for the management of substantial fortunes.

The Great Dilemma Returns to Central Banks: How to Curb Inflation Without Choking the Economy

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The task facing central banks in the coming months will not be an easy one. With a new round of policy meetings just a week away, experts point out that inflation risks are rising on the one hand, while growth forecasts continue to be revised downward on the other. Markets are pricing in interest rate hikes in both Europe and the United States; however, uncertainty regarding the duration of the reopening of the Strait of Hormuz is adding skepticism around those expectations.

What is clear is that markets are being driven by shifts in interest rate expectations and geopolitical developments, with tensions between the United States and Iran adding further volatility.

“Fixed income rallied as moderating inflation and central bank signals reinforced a more cautious monetary policy outlook. Equities remained resilient, supported by strong corporate earnings, particularly in the technology sector. The U.S. dollar remained firm thanks to the Federal Reserve’s relatively hawkish stance, while weaker European data weighed on the euro. Overall, interest rate expectations continue to dominate performance across asset classes,” explain analysts at Union Bancaire Privée (UBP).

The Impact of Hormuz and Iran

According to Raphael Olszyna-Marzys, International Economist at J. Safra Sarasin Sustainable AM, interest rates have shown a very close correlation with oil prices.

“The longer crude oil prices remain elevated, the greater the likelihood of second-round effects emerging. This is precisely the scenario central banks want to avoid, and their messaging has been clearly hawkish since the conflict began. In fact, they have been successful: market-based inflation expectations remain well anchored, especially at the longer end of the curve,” he explains.

This environment implies that much of the rise in bond yields reflects an increase in real interest rates. According to Olszyna-Marzys, if all other factors remain unchanged, this increase represents a tightening of financial conditions. As a result, it will weigh on growth and labor markets, in addition to the direct impact of higher energy prices.

“Central banks face a delicate balancing act: if they do not act decisively enough, inflation expectations could rise again; if they tighten too aggressively, the economy could slow more than necessary,” warns the expert from J. Safra Sarasin Sustainable AM.

For Olszyna-Marzys, market expectations for interest rate hikes are excessive, particularly given that investors are pricing in three additional hikes by the European Central Bank (ECB) before year-end.

“As a result, we expect some decline in yields once energy prices retreat. That decline will likely follow some form of agreement between the United States and Iran,” he notes.

A Broader Perspective

Against this backdrop, what can be expected from the major central banks?

For François Rimeu, Senior Strategist at Crédit Mutuel Asset Management, an objective reading of current U.S. data suggests that a near-term increase in interest rates could be justified.

“In our view, risks currently appear greater in U.S. interest rates than in eurozone rates, which could ultimately support further appreciation of the U.S. dollar against the euro. Naturally, much will depend on developments in the conflict with Iran and commodity prices. But absent significant improvement in the coming months, Mr. Warsh’s task appears particularly challenging,” says Rimeu.

David Rees, Head of Global Economics at Schroders, agrees that a rapid and lasting resolution to the conflict in the Middle East would eliminate significant tail risks. However, he argues that the damage already caused by higher commodity prices and supply chain disruptions appears to have pushed the global economy toward a more stagflationary direction that markets may not yet have fully priced in.

“We doubt that growth will prove resilient enough to force the hawkish central banks of Europe and the United Kingdom to raise interest rates. For the same reason, the rate cuts that markets had expected this year in the United States also appear unlikely to materialize,” argues Rees.

Regarding Asia, Rees notes that Japan should benefit from fiscal stimulus and robust wage growth.

“This, together with higher energy costs and a weaker currency, will keep inflation above target. As a result, the Bank of Japan is likely to continue moving forward with a gradual normalization of monetary policy,” he says.

He also notes that optimism surrounding growth and emerging price pressures has fueled hopes that the Chinese economy may finally emerge from three years of deflation.

“China could export supply-side price pressures and add further upside to global goods inflation. However, the continued collapse of the property sector suggests that hopes for sustained domestic reflation will ultimately be disappointed. The macroeconomic backdrop has already begun to weigh once again on equity markets and could, over time, also limit appreciation of the renminbi,” he adds.

Institutional Investors and Wealth Managers Believe Tokenized ETFs Will Drive Mass Adoption in the Markets

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Barriers to the expansion of tokenization are beginning to fall as major investment firms consider launching tokenized ETFs, according to new global research conducted by London-based Nickel Digital Asset Management (Nickel), Europe’s largest digital-asset-focused hedge fund manager, founded by former professionals from Bankers Trust, Goldman Sachs, and JPMorgan.

The study, conducted among institutional investors and wealth managers from organizations that collectively oversee more than $14 trillion in assets, found that almost all respondents (97%) believe that the potential launch of tokenized ETFs—such as those being considered by BlackRock—will be significant for the sector’s expansion. Nearly one-third (32%) view this development as very important.

The research also reflects a strong conviction that tokenization will continue to grow. Nearly 70% of respondents believe that the number of asset managers seeking to tokenize investment funds and asset classes will increase over the next three years.

The survey, which included firms from the United States, United Kingdom, Germany, Switzerland, Singapore, Brazil, and the United Arab Emirates, highlights growing awareness of the benefits of tokenization.

Private markets are viewed as the segment with the greatest potential. Nearly 70% of respondents identified private equity as the asset class offering the most opportunities, followed by fixed income (55%) and listed equities (42%).

Shorter settlement times, enhanced risk-management capabilities, and lower costs were cited as the least compelling benefits.

The study also confirms that concerns surrounding the expansion of tokenization remain. Nearly three out of four respondents (73%) identified distribution challenges as one of the five main barriers to adoption among professional investors, while 70% pointed to the lack of maturity among service providers.

The Latin American Offshore Market Enters a New Era of Global Oversight

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For decades, offshore structures in Latin America were associated with financial privacy, wealth diversification, and access to jurisdictions with more sophisticated legal frameworks.

However, the international regulatory environment has changed dramatically and is giving way to a new era characterized by more intensive oversight, greater transparency obligations, and unprecedented cooperation among tax authorities and supervisory bodies.

Rather than signaling the end of the offshore business, what is taking place is a profound transformation in the rules under which it operates.

One of the pillars of this transformation is the Common Reporting Standard (CRS), developed by the Organisation for Economic Co-operation and Development (OECD). The standard enables the automatic exchange of financial information between jurisdictions and has become one of the principal tools for combating international tax evasion.

Today, more than 120 jurisdictions participate in the framework, which requires financial institutions, banks, custodians, and certain investment vehicles to report information on accounts held by tax residents of other countries. The OECD has recently expanded the scope of the system to include digital assets, electronic money, and certain indirect investment structures.

At the same time, the international anti-money laundering framework continues to tighten. The Financial Action Task Force (FATF), whose global network encompasses 205 jurisdictions, has intensified its mutual evaluations of the effectiveness of national systems for combating money laundering and terrorist financing.

This trend has direct implications for Latin America. Countries in the region, grouped under GAFILAT (Financial Action Task Force of Latin America—a regional intergovernmental organization composed of 18 countries whose primary objective is to prevent and combat money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction), are subject to periodic reviews that assess not only the existence of regulations but also the authorities’ actual ability to supervise, identify beneficial owners, and sanction non-compliance.

For financial institutions and firms engaged in international wealth management, these changes represent a significant increase in compliance requirements. Know Your Customer (KYC) procedures, transaction monitoring, and tax documentation have become strategically important functions.

Likewise, the growing adoption of international family structures, trusts, and estate planning vehicles is compelling private banks, asset managers, and multifamily offices to strengthen their compliance capabilities and international tax advisory services.

Industry specialists believe that the traditional offshore banking model based on bank secrecy has been overtaken by events. The new value proposition revolves around sophisticated services, wealth planning, geographic diversification, and access to international markets—but under much stricter transparency standards.

This process also coincides with the expansion of reporting frameworks for cryptoassets. The OECD is promoting the Crypto-Asset Reporting Framework (CARF), which will extend information-sharing mechanisms to the digital asset ecosystem, further reducing areas that have traditionally been considered opaque.

As a result, the Latin American wealth management industry is facing a turning point. International oversight no longer distinguishes between traditional financial centers and emerging jurisdictions. The ability to adapt to regulatory changes and strengthen compliance functions is becoming a key differentiator for market participants.

Far from disappearing, the offshore business appears to be evolving toward a more institutional, more transparent model that is closely aligned with global regulatory priorities.

Tell Me Where You Are and I’ll Tell You Your Family Office’s Asset Allocation

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As geopolitical risk and structural uncertainty reshape global portfolios, family offices are placing a greater emphasis on resilience. According to the UBS Global Family Office Report 2026, most respondents are planning strategic changes to their portfolios, increasing currency diversification, and deepening their investments in artificial intelligence.

According to Benjamin Cavalli, Head of Strategic Clients and Global Connectivity at UBS Global Wealth Management, the latest edition of the report shows that family offices continue to adjust their portfolios gradually and methodically, diversifying across asset classes, currencies, and regions while maintaining exposure to long-term themes such as artificial intelligence, albeit with greater selectivity. “Many are considering reducing their exposure to the U.S. dollar or planning greater regional diversification, but North American assets still clearly account for the largest share of allocations,” he says.

According to the report’s findings, geopolitical conflicts have become the leading risk in both the short and long term, while concerns over rising global debt levels and recession risks continue to increase. In response, family offices are adopting a prudent, medium-term approach, prioritizing diversification across asset classes, currencies, and regions rather than making abrupt changes to their allocations.

Notably, for the first time, 60% of family offices plan to change their strategic asset allocation over the next 12 months, the highest level ever recorded by UBS. According to the report, developed markets remain the backbone of portfolios, but family offices are allocating increasing amounts of capital to emerging market equities and alternative assets such as infrastructure, while reducing exposure to real estate. At the same time, they are making targeted diversification adjustments, reflecting a disciplined, long-term investment mindset.

The report also highlights a significant shift in currency positioning. “Sixty-five percent of family offices expect confidence in the U.S. dollar’s reserve currency status to weaken, and many are reassessing their exposure to assets that are listed or denominated in U.S. dollars,” the report states.

According to the firm, this is driving broader adoption of multi-currency strategies, with the euro and the Swiss franc emerging as preferred alternatives. Regionally, North America continues to account for the largest share of allocations, although family offices are actively seeking to reduce concentration risk. Increasingly, they plan to raise their exposure to Asia-Pacific, Greater China, and Western Europe, reflecting a structural shift toward greater regional diversification.

A Regional Focus on Both Sides of the Atlantic

These are the broad conclusions that apply across the family office universe. However, the findings become more nuanced when examined through a regional lens. For example, U.S. family offices display the strongest home-country bias globally, with 88% of portfolios allocated to North America. According to the report, this reflects confidence in the depth, liquidity, and resilience of domestic capital markets despite global uncertainty. “While AI continues to lead investment themes at 65%, respondents are also showing growing interest in defense and security infrastructure (39%) and infrastructure investments more broadly (35%), possibly reflecting geopolitical considerations and growth opportunities,” the report notes.

According to UBS, despite global diversification trends, U.S. family offices remain relatively insulated, with portfolio strategies centered more on domestic strength than on geographic rebalancing. Nevertheless, they are not immune to broader shifts, including increased awareness of currency risk and structural market changes, although to a lesser extent than their counterparts in other regions.

In the case of Latin American family offices, allocations are comparatively more diversified, with 60% exposure to North America and 23% allocated within Latin America itself. “They are among the most active family offices globally when it comes to rethinking portfolio strategies, with 61% planning changes to their strategic asset allocation, above the global average,” the report states.

In the region, thematic priorities are centered on artificial intelligence (77%), infrastructure (55%), and energy and resources (45%), reflecting a combination of technology-driven growth opportunities and exposure to real assets. According to UBS Global Wealth Management, this dual focus may stem both from a global search for investment opportunities and from the region’s familiarity with resource-related investments, positioning Latin American family offices as relatively dynamic investors with a global outlook.

Looking at Europe, European family offices—excluding Switzerland—are among the most active globally when it comes to reassessing their portfolios, with 67% planning changes to their strategic asset allocations, one of the highest levels worldwide. Although North America remains the largest allocation at 45%, European investors are actively rebalancing toward Western Europe and Asia-Pacific, reflecting a strategic effort to reduce concentration risk. Artificial intelligence leads thematic allocations at 57%, followed by infrastructure (33%) and energy and resources (33%), demonstrating a balance between growth themes and structural investments. “These entities are at the forefront of portfolio repositioning, apparently driven by valuation considerations, currency diversification, and evolving global risk dynamics,” the report notes.

As for Switzerland, family offices maintain balanced and internationally diversified portfolios, with 50% allocated to Western Europe and 37% to North America. According to the report, their investment approach places a strong emphasis on stability, diversification, and innovation, with key themes including artificial intelligence (59%), energy and resources (41%), and automation and robotics (38%).

Compared with their global peers, Swiss family offices are moving at a more measured pace, with 43% planning allocation adjustments. Their portfolios stand out for their balanced exposure across both regions and themes, suggesting an approach focused on long-term resilience and technological transformation.

Dynamics in the Middle East and Asia

Turning to other regions of growing importance, family offices in the Middle East exhibit the highest level of planned portfolio changes globally, with 82% intending to adjust their strategic allocations.

According to UBS Global Wealth Management, their portfolios remain anchored in North America (50%), while also maintaining meaningful exposure to Western Europe and the Middle East, reflecting a hybrid investment approach. Their leading investment themes include artificial intelligence (50%), AI-enabled healthcare (35%), and infrastructure (30%), indicating strong interest in both technological adoption and regional development priorities. The region stands out for its proactive and high-conviction approach to capital reallocation, likely driven by a combination of opportunity-seeking behavior and the need to navigate global uncertainty.

Meanwhile, family offices in North Asia are highly technology-oriented and display significant global diversification, with substantial exposure to North America (47%) and Greater China (25%). AI adoption ranks among the highest in the world at 74%, complemented by strong interest in AI-driven healthcare (49%) and energy and resources (34%).

“Seventy-one percent of family offices plan to make changes to their asset allocation, suggesting a proactive willingness to reposition portfolios in response to evolving global conditions. Overall, North Asia stands out for its strong conviction in technology-led growth and cross-border diversification, balancing regional expertise with the pursuit of global opportunities,” the report states.

Finally, family offices in Southeast Asia are the most focused on artificial intelligence globally, with 88% already invested in the theme, the highest percentage of any region. Portfolios maintain significant exposure to North America (58%), while increasingly allocating capital to Greater China and Asia-Pacific, reflecting deeper regional integration. “Eighty-one percent plan to adjust their strategic asset allocation, suggesting an active approach to global economic and geopolitical changes. Beyond AI, the leading investment themes include energy and resources (50%) and automation and robotics (44%), reinforcing Southeast Asia’s position at the intersection of technology adoption and industrial transformation,” the UBS report concludes.

Insigneo Successfully Completes the Acquisition of VectorGlobal WMG Client Accounts

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Insigneo has announced the successful completion of the integration of client accounts from VectorGlobal Wealth Management Group and its Registered Investment Advisor (RIA), VectorGlobal IAG, further expanding its platform and presence across the Americas.

The transaction, initially announced last year, adds approximately $4 billion in client assets from Chile, Mexico, Colombia, Ecuador, Peru, Venezuela, the United States, and Canada, bringing Insigneo’s total client assets under service to more than $37 billion. In addition, the integration gives the firm a presence in Canada through the launch of Insigneo Canada ULC. With more than 100 investment professionals and support staff joining the international wealth management firm, the transaction further strengthens Insigneo’s capabilities and service offering for clients across the region.

“The acquisition of VectorGlobal reflects the continuation of our focused growth strategy, aimed at expanding our presence and reach throughout Latin America and reinforcing our position as one of the leading wealth management firms serving the region. We welcome all the new investment professionals and clients to Insigneo, where they will have access to a broader range of products and capabilities and will benefit from our full dedication and commitment to meeting their needs,” said Raúl Henríquez, President and CEO.

The completion of this transaction marks Insigneo’s third major Latin America-focused deal in recent years, following the integration of Citi’s international businesses in Puerto Rico and Uruguay in 2022, and the integration of PNC’s offshore accounts serving Mexican clients in 2023.

Luxembourg Consolidates Its Position as Santander AM’s Gateway to Latin American Clients and International Distribution

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Photo courtesyAmaya Martínez Lacabe, Country Head of Santander Asset Management Luxembourg.

The importance of Luxembourg to Santander Asset Management is clear. “It is a key jurisdiction for our clients in Latin America and a strategic hub for the international distribution of investment solutions. The combination of this platform with our recent launches aimed at institutional and private banking clients reinforces the role of Santander Asset Management Luxembourg (SAM Lux) as a key element of our international strategy,” explains Amaya Martínez Lacabe, Country Head of Santander Asset Management Luxembourg.

This statement comes as the firm has just announced a new milestone in its international business, surpassing 15 billion euros in assets under management on its Luxembourg platform for the first time. This achievement consolidates the growth of its European distribution hub and strengthens its position as the Spanish asset manager with the largest volume of assets managed in Luxembourg.

Regarding the firm’s plans following this milestone, the asset manager emphasizes that its focus remains on strengthening its value proposition for clients and expanding its international distribution capabilities. “The results validate this strategy, which has allowed us to double our assets under management over the last two years,” Martínez Lacabe notes.

According to her, the platform has become a key component of the firm’s international strategy, enabling the distribution of funds across multiple markets through a diversified range of UCITS vehicles covering money market, fixed-income, and multi-asset strategies.

She also points out that growth in recent months has been driven, among other factors, by increased demand for liquidity and cash management solutions from institutional, corporate, and private banking clients, in an environment where cash optimization has once again become a priority within investment portfolios. Regarding this “increase in demand,” the asset manager acknowledges that Europe remains the primary growth engine.

“This milestone reflects the strength of our international platform in Luxembourg and our ability to provide solutions tailored to clients’ needs across different markets. Our Luxembourg platform continues to be a cornerstone for the global distribution of investment solutions and product development within Santander Asset Management,” adds the head of Santander Asset Management Luxembourg.

A Diversified Offering for International Clients

The firm stresses that the growth of its Luxembourg platform is supported by a product range designed to meet different investment needs and risk profiles.

Among the strategies experiencing the strongest growth is Santander Money Market, a money market fund focused on liquidity management and capital preservation, which has reached 4.6 billion euros in assets. So far this year, the vehicle has attracted 1.6 billion euros in net inflows, reflecting investors’ interest in this type of solution in the current market environment.

The offering also includes specialized strategies for institutional investors. Among them is the Financial Credit Fund, a vehicle designed for qualified investors that provides exposure to the market for contingent convertible bonds (CoCos), a segment that continues to attract interest due to its return potential within the financial fixed-income universe.

With this new asset milestone, Santander AM reinforces the strategic role of Luxembourg as a central hub for its international operations and strengthens the platform’s ability to support growing global demand for investment solutions.