SINGAPORE (Mar 12): A new multifamily office with about US$300 million ($420 million) in assets under advisory has established itself in Singapore, aiming to attract wealthy clients and private bankers from across the region.

Envysion Wealth Management Pte was founded by Veronica Shim, who spent more than 16 years at private banks including Julius Baer Group Ltd. and EFG Bank AG.

The group is targeting assets under advisory of between US$1.5 billion to US$2 billion by year-end and plans to employ around 15 private bankers, up from eight currently, over that same time frame, she said at a media briefing in Singapore on Thursday.

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