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SINGAPORE and HONG KONG, Oct. 29, 2020 /PRNewswire/ -- Crossinvest (Asia), one of the leading privately-owned wealth & asset management companies in Asia and Singapore, announced today its change in business ownership with Mr. Cem A. Azak who joined as the Executive Chairman and is now the majority shareholder of Crossinvest (Asia). Before the move, Mr. Azak was Senior Managing Director, Market Head International & Member of the Private Banking Council at EFG Bank. Mr. Azak's move will result in Crossinvest (Asia) benefitting and more than doubling its client base of Ultra High Net Worth (UHNW) individuals and families.
Mr Cem A. Azak, Executive Chairman and majority shareholder, at the Crossinvest (Asia) office.
Sharing the future plans of Crossinvest (Asia), Mr. Azak said, "With the significant growth in client base, the most immediate plan is to actively recruit the right talents to join our existing excellent team across a variety of roles. We will further develop our family office services for wealth planning through our global network of experts to structure efficient and bespoke solutions for every client's specific estate planning objectives. Whilst we continue to focus on investing across the global financial markets with access to multi-asset class solutions, Crossinvest (Asia) will also be offering more private equity and venture capital opportunities for our clients. This could include financing solutions and investment opportunities for clients' companies as well. I like to call it "private investment banking". We aim to be a "one-stop-shop" for our clients where they can receive comprehensive advice and integrated solutions for all their needs – from investment needs to business financing needs, from wealth planning to legacy planning."
With a heritage and pedigree that dates back to 1985 in Switzerland, Crossinvest (Asia) is one of the first to have received a full licence from the Monetary Authority of Singapore for fund management in 2005. Crossinvest (Asia) is also a founding member and one of the largest members of the Association of Independent Asset Managers Singapore.
With this new business ownership by Mr. Azak, Crossinvest (Asia) will possess greater resources to enhance its private equity and venture capital arms and develop its family office services. Through Mr. Azak's global network of UHNW individuals and families established in several financial centres like London, Frankfurt, New York, Zurich, Dubai, Hong Kong and Singapore, the award-winning financial institution will see better access to investment products across multiple financial institutions globally. The company also continues to offer its expertise on sustainable investing as well as focus on providing digitised wealth management capabilities for its clients in the current and future generations.
Mr. Cem A. Azak is a veteran industry leader with vast experiences in both investment banking and wealth management where he was located across the United Kingdom, Germany, Switzerland and Singapore. Before joining Crossinvest (Asia), Mr. Azak held the role of Senior Managing Director, Market Head International & Member of the Private Banking Council at EFG Bank for more than five years. Prior to joining EFG Bank, he was with DBS Private Bank in Singapore as Executive Director, Head of Europe, Middle East & Africa (B). He was also previously with Barclays Bank Group for almost 10 years from Barclays Capital - the investment banking arm to Barclays Wealth Management, where he worked in various locations such as Frankfurt, London and Zurich.
