Singaporean fund manager Golden Equator Group is set to launch a wealth unit in Brunei.

The firm will set up three businesses in Brunei, namely multi-family office Golden Equator Wealth (GEW), Golden Equator Consulting, and SPECTRUM.

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Aziemah Abdullah will be in charge of the new business. As the country head of Brunei, she will be responsible for leading the in-market expansion work of the firm.

She joins from Royal Brunei Technical Services (RBTS), where she headed business development and expansion efforts.

The aim of GEW will be to offer the ultra-rich in Brunei a holistic approach to preservation of wealth.

Commenting on the firm’s expansion, Golden Equator founder and group CEO Shirley Crystal Chua said: “From our conversations with Bruneian families, we understand that there’s a desire to understand proper wealth management and legacy preservation.

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“There is also an encouraging interest in initiatives that involve the next-generation members of these families, which shows that the older generations are starting to plan how to pass down the family business and wealth to their children to manage.”

The expansion comes after Golden Equator raised S$24.6m ($18.3m) from entrepreneur Taizo Son as well as individual investors from the Asia Pacific and the Middle East.