'Deposited Assets of 20 Trillion' Family Office... Samsung Securities Opens Dedicated Branch

'SNI Family Office Center' Opens
Family Office Custody Assets Reach 20 Trillion Won
Two Branches Staffed by PBs with 13.7 Years of Experience

Samsung Securities announced on the 30th that it will officially open the 'SNI Family Office Center,' a dedicated branch for related services, at the Gangnam Finance Center on Teheran-ro, Gangnam-gu, to expand its family office business with entrusted assets worth 20 trillion KRW.

The SNI Family Office Center provides specialized family office services based on Samsung Securities' know-how from the 'Family Office' service launched in 2020. Two branches composed of private bankers (PBs) with an average of 13.7 years of experience in managing super-rich assets will open simultaneously at this Family Office Center.

Samsung Securities introduced the industry's first dedicated brand for ultra-high-net-worth individuals, 'SNI (Success & Investment),' in 2010. Following the opening of 'The SNI Center,' a dedicated center for new rich (emerging affluent) in 2022, the opening of this Family Office Center establishes the only super-rich asset management organization in Korea.

Samsung Securities provides family office services to clients with assets exceeding 100 billion KRW among ultra-high-net-worth individuals. As of January 2024, it has grown to serve 80 families with total entrusted assets of 20 trillion KRW. The average entrusted assets per family reach 250 billion KRW, comparable to the asset size of major domestic mutual aid associations.

The core service of the SNI Family Office Center is family office exclusive products. These include club deals involving only a few investors and co-investment opportunities alongside Samsung Securities' own capital?institutional investor-grade products that are difficult for individuals to access. They have also offered exclusive products such as private alternative funds, high-quality unlisted domestic project deals, and private loan investments linked with investment banking (IB). In 2023, they raised the largest amount as a single institution in unlisted investment deals of domestic large conglomerate affiliates such as KT Cloud and SK Pharmteco.

Another differentiated service is the dedicated committee for each family. A total of 60 Samsung Securities headquarters experts can be appointed as committee members covering various areas including private deals, research, investment banking (IB), tax, real estate, human resources, and organizational culture. Through the dedicated committee, clients can receive not only asset management and corporate solutions but also non-financial heritage (asset succession) services such as inheritance, will drafting, and wealth transfer.

Family office exclusive products and the dedicated committee were the highest-rated services by family office clients as of the end of last year. Samsung Securities also plans to appoint 'Family Officers' who will manage family office families exclusively and advance related strategy development and service enhancement.

Kyunghee Park, Vice President and Head of WM Division at Samsung Securities, stated, "As the domestic ultra-wealthy market rapidly grows, clients are demanding family office services at the level of advanced countries. Starting with the opening of the dedicated center, we will enhance global investment services and non-financial services so that domestic family office clients can receive services comparable to global advanced multi-family offices such as UBS and JP Morgan when they come to Samsung Securities."

This content was produced with the assistance of AI translation services.