Google co-founder Sergey Brin’s family office to set up Singapore branch

Brin’s family office is operated through Bayshore Global Management, which set up an office in Singapore last year.

Deputy chief investment officer Marie Young has been appointed as director of the unit. She has worked with Bayshore for over 10 years and has had experience working as a financial analyst for Goldman Sachs.

The Google co-founder’s net worth is estimated to be about US$81.6 billion. Brin is among a slew of billionaires who are capitalizing on Singapore’s strong regulatory framework, developed infrastructure, and established financial industry.

As per filings with the corporate regulator, primary activity for Bayshore’s Singapore unit will be related to family offices. It is currently held through the holding company Parachute Capital.

Meanwhile, billionaire Ray Dalio is also set to open a family office in the city-state, following vacuum cleaner-maker James Dyson’s Weybourne Group, which has already established one.

See also: The key players in Singapore’s thriving fintech space

Asian family offices have outperformed their global peers in terms of investments, pushed by Chinese stocks and tech firms. About 200 single-family offices in Singapore were on track to manage assets worth US$20 billion as of October 2020.