Bankers are often under pressure to deliver financial results, according to an interview with Lighthouse Canton managing director Charlene Lin, which can lead to missed opportunities to create real value for clients.
Founded in 2014, Lighthouse Canton is a Singapore-headquartered financial institution that serves a wide range of clients, including corporates, ultra-high-net-worth individuals (UHNWIs), family offices, and entrepreneurs across three main business lines.
First is asset management, where it builds its own in-house funds across hedge funds, private credit, private equity and real estate. Second is wealth management, where it provides treasury solutions and portfolio management services. Third is advisory and capital solutions which provides business support for M&A advisory, restructuring, refinancing, and more.
“Right now, we have over USD 6 billion in assets under management and aim to reach USD 10 billion by 2027,” said Charlene Lin, Lighthouse Canton’s managing director, strategic growth (North Asia and Southeast Asia), in an interview with Global Private Banker.
Global Indian launch
One of the growth drivers for the firm is the non-resident Indian (NRI) segment, for which it launched a dedicated wealth management platform in July called “Global Indian” to serve the segment’s multi-jurisdictional needs. On top of NRIs, the platform also targets Overseas Citizens of India (OCI), Indian residents with a global investment horizon, and global investors looking to invest in India.
“Our leadership has a strong foothold in India. Our Group CEO, Shilpi Chowdhary, is a Global Indian himself and saw the gap first-hand: wealth was being handled in a fragmented way, with NRI assets spread across the globe,” Lin remarked.
One of the ways which the firm is attempting to organize client’s global assets for better visibility is with the use of technology. Through a partnership with multiple firms, including asset managers and digital platforms, it launched Keenai Wealth in August to provide accredited investors and their advisers a single account to obtain a consolidated view for public markets, private funds, private credit, and insurance.
Taiwan partnership
Elsewhere in Asia, Lighthouse Canton has also deepened its footprint in Taiwan, which has seen massive wealth creation fueled largely by the semiconductor boom. In April, the firm announced a strategic partnership with Taiwan-based Draco Evolution that aims to “combine AI FinTech capabilities with international asset management expertise to promote cross-market investment research, asset allocation professional exchange, and FinTech development between Taiwan and Singapore”.
“Taiwan is an important stepping stone for us in North Asia,” Lin added. “There is a deep pool of capital and multi-generational family wealth, and more families are looking at independent wealth managers for holistic offerings.”
Middle East: Opportunities for entrepreneurs
In addition, Lighthouse Canton also has offices in the Dubai which is facing risks from the ongoing conflict in the Middle East. According to media reports, the UAE has agreed to re-enter the conflict in Yemen alongside Saudi Arabia to counter escalating Houthi attacks.
Despite the issues, Lin observes continued interest in the region, with some even considering increasing exposure.
“Dubai has been affected by the geopolitical tensions in the Middle East, but our clients typically will not remove themselves from the country,” Lin noted. “Many of them are entrepreneurs, and on the business side they are looking at deepening their investment. Every family has its own view, and we work with each of them on what is right for their plans, including wealth planning and structuring.”
“Think outside the box for clients”
According to Lin, Lighthouse Canton’s growth has been dependent on its ability to holistically serve client needs across their personal wealth and business, which requires “entrepreneurial talent” from bankers who are not only focused on delivering on basic financial metrics.
“The main KPIs for bankers are AUM and revenue. At an independent financial institution like ours, the focus is on creating value for the client,” Lin explained.
“That can mean structuring needs around a family office beyond what banks traditionally do. It could also include consolidating assets into a single view while emphasising privacy and data security. You are in a privileged position to understand a client and serve their needs holistically. We are aiming to hire experienced relationship managers who are entrepreneurial and think outside the box for clients.”
