Launch of WeWrise and VooTech and fresh senior executive leadership appointments all part of an expansion strategy to achieve assets under management (AUM) of US$5 billion by Dec 2023
HONG KONG SAR – Media OutReach – 5 July 2023 – WRISE Group, a wealth management enterprise, is broadening its capabilities to help ultra-high net worth individuals (UHNWIs) and family offices navigate the complexities of modern wealth management with fresh leadership appointments and the launch of two new businesses, namely WeWrise, a comprehensive corporate services organisation, and Voo Technologies (VooTech), a subsidiary wealthtech solutions provider of modular digital services from WRISE on a B2B software-as-a-service (SaaS) model.
This business expansion will allow the WRISE Group to broaden its scope of professional and digital service offerings supported by experienced senior leaders, leading to better tailoring of solutions to meet the wealth management demands of more UHNWIs and family offices.
Accelerating growth opportunities with new business units
WRISE Group’s two new business units, WeWrise and VooTech, will augment WRISE’s current capabilities with a holistic suite of offerings across the wealth management spectrum to serve a diversity of clients. These new services are detailed below:
- WeWrise: Comprehensive consulting and advisory services for financial management
WeWrise serves as the foundation for UHNWIs and HWIs, providing essential services for those looking to first structure their wealth. Managed by executive members experienced in both onshore and offshore fund structures, the new business unit will help clients to establish a solid financial framework, using their expertise in fund design, investment management, risk management, and compliance under financial licenses for a vast client base that spans diverse industries. WeWrise is currently represented in Hong Kong, Shanghai, and Singapore, with financial licences in key markets such as Hong Kong, Cayman Islands, and the British Virgin Islands.
- VooTech: B2B wealthtech solutions provider
VooTech is a wealthtech subsidiary of WRISE, complementing the Group’s comprehensive wealth management offerings with modular digital services from WRISE such as asset aggregation, analytic and reporting and price aggregation tool. VooTech is backed by an experienced team of IT and financial services professionals, to both support WRISE’s digital requirements and specialised digital services demanded by External Asset Managers (EAMs), family offices, trust companies, and fintech firms.
Simplification of wealth management through technology and people key to WRISE’s success
The differentiating factors of TREX, WRISE’s best-in-class technology platform and WRISE’s team expertise and capabilities are key to WRISE’s continued success.
“WRISE’s strategic new hires and astute alignment with market movements remain part of our impending success in hitting our year end target for an AUM of US$5 billion. I am confident that technical and enhanced professional expertise from our senior leaders will lead our exceptional team to drive continued growth of WRISE’s business and assets,” said Derrick Tan, Chairman of WRISE Group.
Appointment of Kevin Teng as the new CEO of WRISE WM Singapore
WRISE has appointed Kevin Teng as CEO of WRISE WM Singapore, effective 3 July 2023. Kevin brings over 20 years of experience in wealth management industry. He assumes CEO responsibilities from Derrick Tan, Chairman of WRISE Group, who is now focusing on the strategic initiatives, growth and leadership of the Group’s businesses.
“I am privileged to join WRISE at such an exciting time. Asia-Pacific is set to become the largest wealth hub by 2026, and more UHNWIs are looking to simplify their wealth management and transfer processes. WRISE’s expanded offerings fill a crucial gap in meeting the industry’s evolving needs. As the convergence of traditional and digital wealth management continues to create new possibilities in financial and investment services, I am delighted to be in a position to leverage such emergent capabilities for the success of our clients and partners,” said Kevin Teng, CEO, WRISE WM Singapore.
Appointment of Joel Tan and Megan Zhang as Co-Chief Executives of WRISE WM Hong Kong
WRISE WM HK has also appointed Joel Tan and Megan Zhang as Co-Chief Executives (CE), effective 3 July 2023. Collectively, both CEs bring over 24 years of experience in wealth management industry. Under the leadership of Derrick Tan, Chairman of WRISE Group and Marcus Wong, Vice Chairman of WRISE WM HK, Joel will head the strategic initiatives for Hong Kong market and Megan will focus on serving clients in the China market.
Serving needs across the region
Moving forward, WRISE will continue to establish offices in financial centres globally as opportunities arise. Its growth strategy remains affixed on building presence in major financial centres, to create a net of synergies that are key to its continuity and growth. Besides WeWrise and VooTech, WRISE has also established its first overseas office in Hong Kong earlier this year, focusing on the wealth management needs of Hong Kong’s UHNWIs, family offices, and clients across Greater China.
The issuer is solely responsible for the content of this announcement.
WRISE is a wealth enterprise that provides innovative client-centred solutions to make it easy for UHNWIs to grow their wealth and live their dreams. Its proprietary and cutting-edge digital platform, TREX, gives clients complete control and transparency over their total wealth. From intelligent portfolio management, wealth planning and expert, unbiased advice, to trust and corporate services, all the integral tools are available in one place for easy access, anytime and anywhere. Clients are assured of a frictionless route to unbiased, trusted investment advice and market insights across a broad spectrum of asset classes.
WRISE Group of Companies include WRISE Wealth Management (Singapore), , WeWrise Services, and Voo Technologies and affliliated companies WRISE Wealth Management (Hong Kong), WRISE Wealth Management (Middle East).