UOB Private Bank, in collaboration with Boston Consulting Group (BCG) and NUS Business School, has unveiled a comprehensive White Paper titled “The Asia Generational Wealth Report 2025: Succession in a new era”. The report delves into the complexities of intergenerational wealth transfer in Asia, drawing insights from over 220 high-net-worth individuals and families across the region.
The White Paper addresses the challenges Asian families face in wealth succession, such as differing wealth ambitions and cultural sensitivities. It highlights that younger generations, aged 30 to 35, prefer equities and digital assets, whilst older generations favour traditional assets like investment properties. Additionally, many first-generation wealth holders wish to keep business leadership within the family, though a lack of interest from heirs is noted.
Chew Mun Yew, Head of UOB Private Bank, remarked on the rapid expansion of Asia’s private wealth market, noting that UOB’s high-net-worth client base has more than doubled since 2021. He emphasised the importance of early engagement and thoughtful planning in transforming succession processes.
Ernest Saudjana, Head of BCG in Southeast Asia, highlighted the projected growth of Asia’s private wealth to US$99t by 2029, stressing the need for proactive succession planning. He noted that Singapore and Hong Kong are key destinations for wealth inflows, with over 80% originating within Asia.
The White Paper suggests professionalisation of family businesses, structured governance, and appropriate ownership structures as key strategies for successful wealth transfer. It also underscores the importance of preserving intangible assets, such as business connections and industry knowledge, to maintain a family’s business edge.
