Securing Family Legacies

Pacific Hawk specialises in multi-family office wealth management to ensure peace of mind through successive generations.

The only constant in life is change. Classical Greek philosopher Heraclitus’ quote still rings true 25 centuries after his death. And while rags to riches stories provide aspirational goals to strive for, riches to rags tales are just as common. According to Ann Cooley, CEO of Pacific Hawk, up to 70 percent of wealthy families lose their wealth by the second generation. A further 90 percent of the money will be completely gone by the third generation.

“Those numbers are staggering, especially when it has taken a lifetime of hard work and sacrifice for our clients to have accumulated it,” Cooley observed. “That is why for decades, Pacific Hawk has built a reputation as a trusted advisor that continually outperforms other investment platforms by offering investment advice that is confidential, reliable and trustworthy.” For the many multi-family offices in Asia, it makes sense to seek advice from experts that can cater to their specific needs.

Cooley, a finance veteran who worked in numerous international banks in London and New York, founded Pacific Hawk in 1997. The company is itself a multi-family office that offers asset management, private equity and financial solutions tailored for multi-generational family goals and company needs. Its Global Fund of Funds adopts a multi-strategy and multi‑manager approach that includes global equity, fixed income and hedge funds. Furthermore, it offers Hong Kong’s first open-ended fund company (OFC) supervised by the Securities and Futures Commission (SFC). “An OFC is more cost effective and transparent than offshore fund structures,” Cooley revealed. “Open-ended funds fill a big gap in the range of investment options in Hong Kong, and will create new opportunities for fund management professionals, independent directors, and other legal and professional services.”

Protecting assets while creating legacies for multi-generations

In the past 23 years, Cooley has witnessed an explosion of wealth in Asia. “Markets have become more sophisticated,” she noted. “International families have many things in common: they all want to have family harmony, protect assets, and create legacies. As patriarchs and matriarchs have gotten older, succession planning has become more prevalent. With this surge in wealth also comes a steady influx of new opportunities. Many banks and investment firms across the globe have expanded into Hong Kong. We see growth in the Guangdong-Hong Kong-Macao Greater Bay Area as being a plus to obtain more clients, enhance our investment strategies and collaborate with other groups on new technologies and ideas.”

Cooley has appreciated both Hong Kong as a place to live and InvestHK as a source for collaboration. “InvestHK is a trustworthy source for delivering high level global insights, thought-provoking interviews from opinion leaders, and an entrée to a pool of strategic relationships,” she states. “Hong Kong offers excellent career and business opportunities, as well as diverse social and leisure options. It is a brilliant place to live and work.”