Singapore reviews family office investment rules as BBVA unifies its wealth tiers

In Asia, Singapore’s regulator set out a review of single family office investment rules. In Europe, BBVA unified its wealth tiers across its markets and Rathbones gained an Irish licence. In North America, Scotia Wealth Management launched a service for ultra-high-net-worth clients, and globally, Art Basel and UBS published a survey of 3,100 high-net-worth collectors.

This brief covers 5 October to 11 October 2026.

Singapore weighs digital tokens and insurance for family offices

Gan Kim Yong, Deputy Prime Minister of Singapore and Chairman of the Monetary Authority of Singapore (MAS), said on 5 October that single family offices have asked for greater flexibility to deploy capital from Singapore, including into digital payment tokens and insurance policies. MAS is considering the feedback in its regular review of the tax policy framework, which includes updates to the Designated Investment list, and will announce the updated list and an implementation date in due course.

The Designated Investment list sets out the investments that can qualify for tax exemption under Singapore's tax incentive schemes for funds. Gan also said private banking client assets grew around 50% over five years and 15% between 2024 and 2025, and that the onboarding improvements MAS identified with the Private Banking Industry Group include artificial intelligence (AI) and digital tools and a risk-appropriate approach to establishing clients' sources of wealth.

BBVA puts three wealth tiers under one brand

Banco Bilbao Vizcaya Argentaria (BBVA) announced Global Wealth on 6 October, an umbrella brand that places its Premium, Private Banking and Ultra High Net Worth (UHN) segments under one name and identity in all countries from October. Local names remain for now, including UHN Patrimonios in Spain, Premium Patrimonial in Mexico and Premium and Premium Plus in Colombia.

Jaime Lázaro, Head of BBVA Asset Management and Global Wealth, said the launch gives high-net-worth clients a specialised and consistent offering with different service levels. The release describes the UHN tier as serving large fortunes and families with wealth planning, governance and legacy preservation, and also names BBVA platforms in Spain, the United States and Switzerland for position consolidation and advisory services.

Rathbones gains Irish licence to serve the EU

Rathbones Group received a Markets in Financial Instruments Directive (MiFID) licence from the Central Bank of Ireland on 7 October, allowing its Dublin-based subsidiary Rathbones Ireland to serve new and existing clients in Ireland and across the European Union (EU). Dolores Geaney, Managing Director of Rathbones Ireland, joined the group in April. Rathbones managed GBP 120.7 billion ($159.6 billion) in client assets at 30 June 2026.

The announcement sits alongside the group's research showing that nearly 6,000 high-growth entrepreneurs left the United Kingdom between 2024 and 2026, while more than 3,000 moved there over the same period. Rathbones Ireland now holds authorisation to serve new and existing clients in Ireland and across the EU from Dublin.

Early decision roles build next-generation readiness, WMI study finds

The Wealth Management Institute (WMI) published Stewardship by Design on 5 October, a study with Harvard Business School and University of Chicago Booth School of Business academics covering about 150 family offices. It found 49% of Asian respondents consider the next generation prepared, against 52% internationally, and families are almost seven times more likely to rate successors as ready when they contribute alongside senior members on consequential decisions.

The study finds no single structure suits every family, and only 32% of Asian family offices turn to advisers on strategic decisions, about a fifth lower than the international sample. WMI Chief Executive Foo Mee Har described that gap as room for a larger adviser role. Lim Chow Kiat, WMI Chairman and Chief Executive of GIC (formerly the Government of Singapore Investment Corporation), said capital is plentiful while patience is repriced as government borrowing, AI and energy compete for it.

Standard Chartered adds cash fund to $2.6 billion platform

Standard Chartered said on 5 October that its variable capital company (VCC) platform, set up in June 2024, holds more than $2.6 billion in assets under management (AUM) as at end June 2026, and launched its 10th sub-fund with BNY Investments. The Signature Select Premium Cash Reserve Fund is the fifth VCC fund launched in 2026, aims to beat the Secured Overnight Financing Rate and offers daily liquidity, with Insight Investment, the fixed income arm of BNY Investments, as manager.

The fund is open to accredited and professional investors in the Priority, Priority Private and Private Banking segments in Hong Kong, Singapore, the United Arab Emirates, Jersey, Kenya and Nigeria, with other markets expected to follow. Sumeet Bhambri, Global Head of Advisory and Managed Investments for Wealth Solutions at Standard Chartered, described the launch as a milestone in expanding the bank's wealth offerings through partnerships with major asset managers.

Scotia gives UHNW clients one view of their portfolio

Scotia Wealth Management, part of Scotiabank, launched Scotia Global Intelligence in Toronto on 6 October for ultra-high-net-worth (UHNW) clients. The service gives a consolidated view of a client's entire portfolio wherever it is held, combining institutional investment expertise, portfolio reporting and strategic insights delivered by the Chief Investment Office. It draws on Marsh for private market solutions and on Addepar, a data and AI platform used by more than 1,500 firms in 60 countries.

Scotia Global Intelligence is a service of Scotia Capital Inc. and extends a UHNW offering that includes family office services, business transition and succession planning, governance advisory, trust and estate expertise, intergenerational wealth transfer and private banking. The release states no rollout date, client eligibility thresholds or pricing.

Ken Griffin adds $25 million to neuroscience gift

Kenneth C. Griffin, Founder and Chief Executive of Citadel, announced an additional $25 million gift to Baptist Health in Miami on 7 October, taking his support for neuroscience there to $75 million after a $50 million gift in 2024. Miami Neuroscience Institute is now the Baptist Health Kenneth C. Griffin Neuroscience Institute.

The new gift establishes the Kenneth C. Griffin Neuroscience Institute Transformational Impact Fund, which will support research, innovation, education and prevention. Baptist Health broke ground on the institute's new 197,000 square-foot home, which is due to open in early 2029, and the release describes the gift as among Griffin's largest supporting healthcare in Florida to date.

Gen Z tops collector spending, survey finds

Art Basel and UBS published the Survey of Global Collecting 2026 on 8 October, based on 3,100 high-net-worth (HNW) individuals in 10 markets and conducted by Arts Economics. Gen Z collectors spent more on fine art in 2025 and the first half of 2026 than any other generation, at more than twice the levels of older generations, and made up nearly half of buyers of works priced above $1 million in 2026.

Family is the main route into collecting for 40% of Gen Z collectors against 28% of collectors overall, and almost 90% of Gen Z collectors who inherited works kept them. Among all respondents, 23% planned to donate works to museums in the coming year.

Wealthspire opens sports and entertainment practice

Wealthspire launched Wealthspire Sports & Entertainment on 6 October, a practice for professional athletes, entertainers and creators with complex financial lives. The practice oversees about $2.88 billion in AUM and serves more than 200 UHNW clients, families and institutions, on approximate figures as at 1 September 2026.

Frank Marzano, Managing Director and Head of the Practice, also Co-Heads Wealthspire Family Office. The practice will operate as a direct vertical of Wealthspire Family Office and can connect clients with affiliate Ground Control Business Management, which serves clients with complex day-to-day financial needs in entertainment, media, sports and other industries.

Merit Financial Advisors acquires $1.1 billion Moldenhauer

Merit Financial Advisors announced on 8 October its acquisition of Moldenhauer & Associates of Orchard Park, New York, effective 25 September 2026. Moldenhauer has about $1.1 billion in client assets, nearly 1,900 households and 12 employees who join Merit; terms were not disclosed. Merit has more than 70 offices and $32.92 billion in assets as at 12 September 2026.

The release counts 63 acquisitions to date and 12 partnerships in 2026. David Wahlen, Executive Vice President of Strategic Partners at Merit, said succession does not have to mean exit and cited Moldenhauer as an adviser planning for continuity while staying engaged, and said Merit aims to give the Moldenhauer team more resources and scale.

What to watch next

Private Banking Industry Group member banks have committed to bring median private banking account opening times to within one month by the end of 2026. Nearly half of new accounts over the last three months already met that mark, and most member banks have shortened their median times since the end of 2025.

The Wealth Management Institute plans new programmes for next-generation family members on values, aspirations and stewardship responsibilities and on emerging technologies and new business models. It also expects 21,000 enrolments in role-specific AI training for wealth and asset management professionals over the next three years.

JPMorgan Chase reports third-quarter results on 13 October and UBS on 28 October, bringing the next published wealth-segment figures from both banks.