Set in 2022, the case follows the sustainability journey of Jiu Zhen Nan, a 133-year-old Taiwanese pastry brand headquartered in Kaohsiung, the southern city of Taiwan. Jiu Zhen Nan specialises in gourmet traditional Chinese Han pastry, often consumed during major festivals, weddings, and religious celebrations. The century-old brand has an established stronghold at domestic airports, high-speed rail stations, and upscale department stores. Eric Lee, Chairman and the fourth-generation owner, had been at the helm of the family firm since 1996. Given the increased focus on sustainability issues in recent years, he had aligned sustainability priorities with the baked goods business, its core values, and its long-term purpose. Since the mid-2010s, he had led the firm to achieve considerable progress on several aspects of sustainability - food ethics, environmental sustainability, social participation, the promotion of Han pastry culture, and talent cultivation. Those efforts were duly recognised, winning the firm an Excellence in Corporate Social Responsibility award from the CommonWealth Magazine twice, in 2019 and 2021. Lee conceded that realising sustainability goals needed time, given that it would not be a short-term pursuit but rather an ongoing commitment. As he mulled over the options for navigating the prevailing challenges amid the COVID-19 pandemic, he recognised that, at the same time, there was mounting pressure to take even more action toward reducing the business impact on climate change. What more could a food manufacturing business like Jiu Zhen Nan do for the good of the planet, the good of society, and its future success?

Set in 2020, this case focuses on the strategic roles of the Association of Independent Wealth Managers (AIWM), as an industry advocate of the independent asset managers (IAMs) in Singapore. This case is motivated by two observations: first, the rapid growth of the IAM sector in Singapore, and second, the need for self-regulation, self-education, and self-advocacy among the burgeoning group of diverse IAMs on the island. The case examines the motivation behind the establishment of the AIWM in 2011, its vision and mission, its roles toward members in terms of services provided, contributions to the sector, and the strategic plans to represent the IAMs as key stakeholders in the evolving wealth management ecosystem of Singapore. The case also explores the value propositions of the IAM's wealth management model, the public's awareness and reception of the model, and how the AIWM can more effectively advocate the IAM model to various stakeholders. Lastly, it prompts the reader to think deeply on the open question of how the AIWM can help its members address a pertinent question that clients are asking the IAMs - "How are IAMs able to help clients achieve a more holistic and inclusive wealth management offering?"

Officially launched on January 29, 2010, Bank of Singapore had grown rapidly in reputation and assets under management (AUM) over a short span of 11 years to become one of the fastest growing private banks in Asia. As of June 30, 2021, its AUM stood at US$125 billion. With the growth of family offices in Singapore, the demand for external intermediaries, such as the external asset managers (EAMs), to manage the growing wealth on the island had risen. Singapore's AUM by asset managers reached US$2.9 trillion in 2019 and it was estimated that EAMs accounted for 5% of the total AUM. Many private banks in Singapore had announced strategic plans to strengthen their presence in the EAM business. Bank of Singapore had to quickly compete with the foreign banks who had decades of experience managing the EAM businesses in Europe and United States. What strategies could the Bank implement to propel the bank's EAM business amidst competition? This case examines the EAM business from the perspective of Bank of Singapore as a custodian bank, the value propositions of Bank of Singapore in differentiating herself to the EAMs, the challenges faced, and the road ahead.

This case focuses on the growth journey of HP Wealth Management (HPWM), an early pioneer in the external asset manager (EAM) sector in Singapore. This case is motivated by two observations: (1) the inception of HPWM during a time of crisis when confidence in financial institutions was lost, and (2) the growth of EAMs in Singapore as her private banking sector matures. The case examines the motivations of the founders of HPWM in switching from salaried employees in private banking to entrepreneurs in a nascent EAM sector, in 2009. It goes on to examine the business and revenue models of a typical EAM and the value propositions of the EAM model to high net worth clients. The case then explores HPWM's differentiated value propositions to clients, which provides a competitive edge over other EAMs and the incumbent private banks. The case presents the investment philosophy of HPWM, the challenges, and the strategies adopted by HPWM. Lastly, it prompts the reader to think deeply of how HPWM can beat the competition and grow to the next level.

This case focuses on the entrepreneurial journey of Sino Suisse Pte Ltd, an external asset manager (EAM) in Singapore. This case is motivated by three observations: (1) the ability of Sino Suisse to rise rapidly from failure in a short span of 3 years to achieve an asset under management (AUM) of US$ 4 billion, (2) the strong conviction of the founder in the "triple-wins" positioning of the EAM business model, and (3) the use of technology to maintain a lean organizational structure. The case examines the motivations of Mr Albert Liu, founder of Sino Suisse, in switching from a salaried employee in private banking to an entrepreneur in 2017. It goes on to explore the entrepreneurship lessons learnt by Liu. The case further presents the business and revenue models of a typical EAM and the value propositions of the EAM model to high net worth clients. It illustrates the "three-win" positioning of an EAM espoused by Liu and continues with the differentiating value propositions of Sino Suisse to clients, which includes, • an open architecture with access to products, pricings and markets from multiple private banks and investment banks, • an aggregator platform called the "Happy Alliance" which allows other EAMs to participate in idea generation and sharing of best practices, new products and ideas via various channels including seminars, online forum, and events, • an exclusive business network called the "Hippo Club" where ultra-high net worth clients of Sino Suisse can source for direct investment deals and philanthropic ideas, among the members. Finally, the case prompts the reader to analyze a key concern of Liu, namely the risk of a negative externality on Sino Suisse from a reputational loss in the broader EAM industry, and brainstorm ways to mitigate this risk for Sino Suisse and the broader EAM sector.