A boom in family offices is expected in Asia – particularly in Singapore. (Channel NewsAsia )

Lazard finally hires Glenn Porritt to head up its Singapore i-banking team, 18 months after the position was left vacant. (FinanceAsia)

Asian hedge funds are looking like a grim place to be in after several funds closed or shrank. Nevertheless some new launches are expected soon. But as James Fallon, director, financing sales in Asia Pacific, Bank of America,puts it: “Do you really want to be launching a new fund right now, particularly if it’s going to be on the smaller side knowing that the opportunity to raise any money right now is severely limited?”(Reuters)

Here’s someone who thinks hedge funds are a joke. (Christian Science Monitor)

Hong Kong’s unemployment rates fell further to its lowest since 2008. (The Standard)

China’s rich are heading to the US and Europe.(The Wall Street Journal)