DEEP IMPACT
Dr Mary Ann Tsao is fired up. She’s wearing a scarlet dress for this shoot—a gift from a family member and a sartorial departure from her customary black garb. Change is afoot. Next year, she will step away from her work at the Tsao Foundation, a non-profit organisation dedicated to eldercare founded by her grandmother, to assume the mantle of chairwoman of the Tsao Family Council, the beating heart of the Tsao Family Office that is setting an example for driving positive social and environmental change.
“I don’t normally give interviews, but I have something to share,” the 66-year-old says, the words tumbling out. “I want people with assets to know that they can make money and make a difference at the same time.” The vehicle is the family office. As it exists to manage family wealth, as long as the principals are not greedy for maximum returns in the shortest time, what’s to stop it from funding change for good?
The Tsaos set up their wealth management platform in 2016 in Singapore to oversee the family’s liquid and property assets. (The family’s IMC Industrial Group, a maritime and industrial solutions provider, remains a separate entity.) After decades of prosperity from an empire that includes manufacturing and
