Best boutique wealth manager 2023
Deyu Family Office
Deyu Family Office was one of the first multi-family offices in China: it was founded in 2015 by veteran banker Zhang Yong, who had previously helped to establish China Minsheng Bank’s top-notch private banking division.
In the past eight years, Deyu has made a name for itself in China’s private wealth circles. It wins two of Asiamoney’s 2023 awards – best boutique wealth manager and best for family office services.
First, the numbers. Despite a tough year in 2022 for China’s wealth management industry, Deyu reported a 30% increase in revenues, year on year, and a rise of more than 20% in profits.
Its client base proved especially loyal; Deyu recorded a 100% annual renewal rate, with some clients even signing up for a life-long contract, demonstrating their trust in the firm.
Deyu, led by chairman Zhang, now has a client base of over 40 families with assets exceeding Rmb2 billion ($288 million) apiece, as well as 200 or so ultra high net worth individuals, each with assets of more than Rmb100 million.