Founding and managing a single-family office is costly today considering the governance required with compliance Thomas von Rueti explains in an interview with finews.com The momentum in Southeast Asia is enormous and it has become an open secret that many wealthy private clients and families in the region But considering the increasing complexity and governance requirements it becomes more and more difficult for smaller single-family offices to operate professionally as a significant asset base is required to justify the structure and provide a high degree of governance quality «Only a midsize organization can provide that,» explains Thomas von Rueti, Chief Operating Officer (COO) and Chief Risk Officer (CRO) at Singapore-based Lumen Capital Investors (LCI) He is a 30-year veteran in the financial services industry and Singapore Life before joining LCI in March 2021 was originally conceived as a single-family office it has successfully embedded other single-family offices providing them access to our scalable operating platform,» says von Rueti «Our technology in combination with the seniority of the team provides the foundation for an effective governance.» Embedding Smaller Family Offices is a Great Opportunity Strict and enhanced governance has become a controversial topic recently all over the world but in Singapore to a larger extent some players complain about the new regime there is a misconception that strong governance is client-unfriendly,» explains von Rueti Strong governance protects clients and supports their achievement of long-term goals.» This is why embedding smaller family offices represents a great opportunity for LCI «We are always delighted to explore how we can integrate individual family offices allowing them to benefit from our open architecture a professional portfolio management and research team «offering comfort to clients and partners is LCI's aim – and an added-value for smaller players.» Entrepreneurial Advisors Have Enormous Possibilities There have been plenty of business opportunities since client advisors regained the ability to travel throughout Southeast Asia something that had fallen by the wayside in the previous years «Entrepreneurial advisors have enormous possibilities with our infrastructure» LCI employs now over 20 persons and manages about $2 billion in assets and other internationally active individuals from predominately Southeast Asia and the Middle East «Our scalable operating model provides the flexibility required by single-family offices while offering a platform with strong governance,» underscores von Rueti Besides the opportunity to embed family offices, LCI is looking for additional senior advisors, ready to become independent and support their clients in a more dedicated way and with the firm's wide offering. LCI partners with two valuable firms – Lumen Capital (Schweiz) in Zurich and Carret Private Investments finews.com publishes on its own Web-TV-Channel interviews with well-known figures of Swiss finance. + More on this topic + More on this topic + More on this topic Singapore-based Lumen Capital Investors is on a hiring spree to further strengthen its team and platform as the foundation for the next growth phase Thomas von Rueti was appointed as chief operating officer and chief risk officer to scale the multifamily office's platform capabilities, enabling Lumen Capital Investors (LCI) to further strengthen its value proposition for senior advisers and clients Von Rueti is a 30-year veteran in the financial services industry He moved to Singapore in 2008 as the CEO of Swiss Life transforming the company from a greenfield operation to a leading HNW insurer He was previously chief commercial officer of homegrown fintech insurer Singapore Life «This senior hire reflects our continued strive to improve our platform capabilities providing our senior advisors with an efficient ecosystem to serve their clients at the highest level» LCI is continuously attracting senior financial service professionals with Takeshi Fujimoto (pictured above) joining the team as a senior advisor in June 2020 who held senior positions in large Japanese banks and insurers he was the head of the Japan desk for a large French bank since 2015 Subscribe to the finews.asia WhatsApp channel and receive regular updates with our news and background stories directly to your mobile phone + More on this topic + More on this topic "What you see here tonight is that wonderful collaboration between the genius of art and the genius of fashion Photo 1 of 12 Dato' Seri Farah Khan and Paul GreenPhoto 2 of 12 Dato' Seri Farah Khan Photo: Piers AllardycePhoto 3 of 12 Ally Mukhriz in a Lorenzo Quinn Couture jacket and Dato' Seri Farah KhanPhoto 4 of 12 A Farah Khan Couture dress inspired by a Dale Chihuly artworkPhoto 5 of 12 Lady Linda Davies Dato' Seri Farah Khan and Her Excellency Evelyne GentaPhoto 6 of 12 Katie Green Dato' Seri Farah Khan and Datin Chai SchnyderPhoto 7 of 12 Shaan Chan and Raisa SufianPhoto 8 of 12 A Pierre Bonnard-inspired Farah Khan Couture skirt Photo: Piers AllardycePhoto 9 of 12 Dato' Zaha Rina Zahari Datin Chai Schnyder and Datin Alissa FitriPhoto 10 of 12 Model Tini in a Charles Demuth-inspired dress of the work 'Sail In Two Movements'Photo 11 of 12 Vincent Van Gogh-inspired dress and skirt Photo: Piers AllardycePhoto 12 of 12 Dato' Seri Farah Khan and Paul Green now could be an interesting time to embark on an entrepreneurial path The Singapore-based independent asset manager wants to capitalize on supportive dynamics in the financial sector Lumen Capital Investors (LCI) has an exemplary track record behind it It was founded in 2010 by Wilfried Kofmehl (pictured below) he made a step that he would still recommend that all client advisors and relationship managers should consider particularly ones that are both successful Although Lumen was originally conceived as a family office fiduciary and corporate finance services besides its classical suite of portfolio management services «The entrepreneurial freedom in an organization like LCI is a unique experience particularly for people who have worked in the rigid scaffolding of large financial institutions,» Kofmehl indicates in an interview with finews.asia He wants to give them a suitable platform with his team of 20 at LCI particularly now that authorities have fully lifted all Covid-19 restrictions over the past few months «We have the opportunity of the century here if you have the right kind of infrastructure» He started his career in 1996 at UBS and moved to Julius Baer in Singapore before starting at LCI in 2013 The name «Lumen» comes from Latin and means light Over the past decade, Dirkmann has contributed to LCI’s growth immensely, both on a personal and organizational basis. The number of staff it employs has gone from 7 to 21 and it even managed to hire highly rated advisors during the pandemic, as finews.asia previously reported A key argument in LCI’s favor is its use of technology which is a key part of its overall value proposition The firm has made significant investments in IT and process optimization over the past few years and it is something that supports client advisors in more intelligent fashion while ensuring regulatory compliance at the same time «I actually came to LCI because I believed in the potential of open architecture and technology to help offer clients individualized solutions» notes Thomas von Rueti during the same interview He is currently LCI’s chief operating officer and chief risk officer He joined LCI in 2021 after a 30-year career at a number of notable financial institutions such as UBS and Credit Suisse «We hired Thomas von Rueti with a view to improving our platform and giving our senior advisors an efficient ecosystem from which to manage their clients in the best way possible» Intensively Searching For Additional Advisors The firm manages about $1.5 billion dollars in client assets and has a highly diversified clientele made up of residents expats and other internationally active individuals from both Southeast Asia and Europe «Our clients determine how involved they want to be in the investment process We manage the assets together with partners and the relevant banking institutions in the best interests of the clients,» CEO Dirkmann points out «We still see significant upwards potential» maintains von Rueti while underlining that the firm is always intensively searching for additional advisors that the manager has more than enough space for the firm’s growth plans in the recently renovated building at Raffles Place in Singapore something that had fallen by the wayside in the three previous years «Entrepreneurial advisors have enormous possibilities with our infrastructure » the second ballroom of Raffles Jakarta opened its doors to a throng of socialites all of whom came decked out in both formal wear and fun fashion for the after-party the evening’s beats were ramped up a notch with performances from DJ Cream and DJ Agung W—a fantastic celebration of heart-pumping music and delicious drinks. The Indonesia Tatler Ball 2018 was made possible thanks to the generosity of Indonesia Tatler’s sponsors See also: Indonesia Tatler Ball 2018: Live from the Red Carpet of Pre-Dinner Cocktails Indonesia Tatler Ball 2018: Inside The Ballroom Who Wore What: Best Dressed Gents At The Indonesia Tatler Ball 2018 Who Wore What: Best Dressed Ladies At The Indonesia Tatler Ball 2018 10 Best Tatlergrams From The Indonesia Tatler Ball 2018 12 Splendid Highlights Of The Indonesia Tatler Ball 2018 Cathy Sharon and Mikha TambayongPhoto 2 of 47 Kris AdidarmaPhoto 3 of 47 Melicia Zaini Cindy Widjojo and Sherly WorthPhoto 4 of 47 Mikha TambayongPhoto 5 of 47 Monica and Clara ArabellaPhoto 6 of 47 Cindy Candiawan Angie Tjisnoyo and Monica SutedjaPhoto 7 of 47 Shinta Zahara Shasha and Ade AndiniPhoto 8 of 47 Stephen Wong and Joshua WongsoPhoto 9 of 47 Intan Soekotjo and Sarasin SoegomoPhoto 10 of 47 Kaisar Adam Natasha Veriskania and Jotua HandikaPhoto 11 of 47 Andrea Gunawan and Lius WidjajaPhoto 12 of 47 Jayne Singgih Riki Kono Basmeleh and Sastya WardaniPhoto 13 of 47 Henry Zaini and Melicia ZainiPhoto 14 of 47 Amalia Wirjono Patrick OwenPhoto 15 of 47 Kelly TandionoPhoto 16 of 47 Stephanie Nastasya and Revano SatriaPhoto 17 of 47 Rasyid Rajasa and Aliya RajasaPhoto 18 of 47 Sally Singgih Alexandra Prasetio and Jasmine PrasetioPhoto 19 of 47 Patrick OwenPhoto 20 of 47 Dina Rimandra HandayaniPhoto 21 of 47 Callista Daniella BachtiarPhoto 22 of 47 Callista Daniella Bachtiar and May FaridaPhoto 23 of 47 Samuel Wongso and Jacqueline SehonandaPhoto 24 of 47 Airyn TanuPhoto 25 of 47 Sherly WorthPhoto 26 of 47 Delia Von Rueti Datok Sri Farah Khan and Irna MaretaPhoto 27 of 47 Julie ChenPhoto 28 of 47 Susanti Tio and Carend DelanoPhoto 29 of 47 Irna Mareta and Indah JonassonPhoto 30 of 47 Patrick Von Rueti and Delia Von RuetiPhoto 31 of 47 Ita Handoko and Eliana Putri AntonioPhoto 32 of 47 Heidy Kandouw and Livienne RusseliaPhoto 33 of 47 Olla RamlanPhoto 34 of 47 Luna Maya and FitriPhoto 35 of 47 Kanty WijayaPhoto 36 of 47 Rinaldy A Yunardi and Kanty WidjajaPhoto 37 of 47 Pinz WijayaPhoto 38 of 47 Prof Dr Deby S VinskiPhoto 39 of 47 Natasha VinskiPhoto 40 of 47 Daniel Wardhana Calista Aurelia and Eugene SiswantoPhoto 41 of 47 James Cox and Vetty KaterinPhoto 42 of 47 Natasha Vinski Tifanny Leonardy and Rinita CristabellaPhoto 43 of 47 Aero Aswar Natasha Ratulangi and Hendra NugrahaPhoto 44 of 47 Rio Pasaribu and Cinta RappaPhoto 45 of 47 Endy Suryokusomo and spousePhoto 46 of 47 Millane FernandezPhoto 47 of 47 Penfold Wines Marlienna Suwito