Lewben Group is opening an office in Manila, the capital of the Philippines, to be run by finance and investment specialist Rytis Davidovičius. The office is being opened as part of the global expansion strategy of Lewben Group, since Asia and Oceania is considered to be one of the most promising regions for business development.
Lewben’s office in Asia and Oceania will be targeted at wealthy individuals who will be offered wealth management, tax, accounting, and business consulting services.
“Southeast Asia and Oceania is the fastest-growing market for this kind of services in the world; thus, expansion in this region is on the agendas of many similar groups. After extensive field research, we decided that our first stop would be in Manila, and the Philippines will become the jumping-off point for Lewben Group in that region,” said Rytis Davidovičius, Lewben Group regional manager for Asia and Oceania.
According to him, the first year in the Philippines will be designated for networking, marketing of specific Lewben products, and learning the local rules of the game.
“The work will start with talking and making relationships happen. In Asia, business is impossible without personal contacts, hundreds of meetings, and thousands of cups of tea. I spent a few months in Southeast Asia, and believe that this experience will make our start easier. We are not going to move any mountains in that first year, but I’m positive that in about two more years the Lewben asset management portfolio in this region will account for tens of millions of dollars. We also expect to open offices in financial centres in the region, such as Hong Kong and Singapore, in about the same time,” added Davidovičius.
Analysts estimate that this region presently has almost five million millionaires, the majority of whom live in Japan and China, and the assets of wealthy individuals are estimated at about 17.4 trillion US dollars. In 2025, their assets should amount to 42.1 trillion dollars, and the region will become a global leader based on this indicator.
“Additionally, capital in this region is moving from agriculture to industry and services, and young businessmen and their heirs are well-educated, modern businessmen willing to take risks. They need investment consultants who can operate globally, since local businesspeople keep almost 70% of their assets abroad,” noted the head of the Manila office of Lewben Group.
Davidovičius is also a member of the Inter Rao Lietuva supervisory board, a member of the Orion London Property Fund investment committee, and President of the Lithuanian Rugby Federation.
In the past, he has held leading positions in the investment management company Orion Asset Management and Finasta bank.
About Lewben Group
Lewben Group is an international group of companies providing clients with asset, wealth, and fund management services, as well as financial planning services, including tax, legal, business consulting, and accounting services. The group has offices in Amsterdam (the Netherlands), London (UK), Nicosia (Cyprus), New York (USA), and Vilnius (Lithuania).